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United Nations Department of Economic and Social Affairs Sustainable Development

MSME Grant funding for Africans

Boma Prize for Africa (
Non-governmental organization (NGO)
)
#SDGAction57274
    Description
    Description

    The Boma Prize for Africa empowers small businesses, startups, and entrepreneurs across the African continent to scale their innovative startups for real impact. Participants join an exclusive global community of student entrepreneurs, mentors, and industry experts as they work to earn a spot in our Global Finals where finalists compete for over $20,000 US Dollars in funding and valued added services to bring their big ideas to life.

    Expected Impact

    This challenge is targeted at finding ways to eradicate the challenges facing SMEs in Africa. This will directly contribute to the United Nations goal of poverty eradication by 2030. We can achieve this, by amassing adequate support from additional partnerships , as we work together to inspire potentials in Africa to think of new innovative ways of doing business in Africa and bridging the gap with Africa and the rest of the world.

    Partners

    Boma Prize for Africa Foundation

    Goal 8

    Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

    Goal 8

    8.1

    Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 per cent gross domestic product growth per annum in the least developed countries
    8.1.1

    Annual growth rate of real GDP per capita

    8.2

    Achieve higher levels of economic productivity through diversification, technological upgrading and innovation, including through a focus on high-value added and labour-intensive sectors

    8.2.1

    Annual growth rate of real GDP per employed person

    8.3

    Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises, including through access to financial services

    8.3.1

    Proportion of informal employment in total employment, by sector and sex

    8.4

    Improve progressively, through 2030, global resource efficiency in consumption and production and endeavour to decouple economic growth from environmental degradation, in accordance with the 10-Year Framework of Programmes on Sustainable Consumption and Production, with developed countries taking the lead

    8.4.1

    Material footprint, material footprint per capita, and material footprint per GDP

    8.4.2

    Domestic material consumption, domestic material consumption per capita, and domestic material consumption per GDP

    8.5

    By 2030, achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value
    8.5.1

    Average hourly earnings of female and male employees, by occupation, age and persons with disabilities

    8.5.2

    Unemployment rate, by sex, age and persons with disabilities

    8.6

    By 2020, substantially reduce the proportion of youth not in employment, education or training
    8.6.1

    Proportion of youth (aged 15-24 years) not in education, employment or training

    8.7

    Take immediate and effective measures to eradicate forced labour, end modern slavery and human trafficking and secure the prohibition and elimination of the worst forms of child labour, including recruitment and use of child soldiers, and by 2025 end child labour in all its forms

    8.7.1

    Proportion and number of children aged 5‑17 years engaged in child labour, by sex and age

    8.8

    Protect labour rights and promote safe and secure working environments for all workers, including migrant workers, in particular women migrants, and those in precarious employment

    8.8.1

    Fatal and non-fatal occupational injuries per 100,000 workers, by sex and migrant status

    8.8.2

    Level of national compliance with labour rights (freedom of association and collective bargaining) based on International Labour Organization (ILO) textual sources and national legislation, by sex and migrant status

    8.9

    By 2030, devise and implement policies to promote sustainable tourism that creates jobs and promotes local culture and products

    8.9.1

    Tourism direct GDP as a proportion of total GDP and in growth rate

    8.10

    Strengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all

    8.10.1

    (a) Number of commercial bank branches per 100,000 adults and (b) number of automated teller machines (ATMs) per 100,000 adults

    8.10.2

    Proportion of adults (15 years and older) with an account at a bank or other financial institution or with a mobile-money-service provider

    8.a

    Increase Aid for Trade support for developing countries, in particular least developed countries, including through the Enhanced Integrated Framework for Trade-Related Technical Assistance to Least Developed Countries
    8.a.1

    Aid for Trade commitments and disbursements

    8.b

    By 2020, develop and operationalize a global strategy for youth employment and implement the Global Jobs Pact of the International Labour Organization

    8.b.1

    Existence of a developed and operationalized national strategy for youth employment, as a distinct strategy or as part of a national employment strategy

    Grants awarded to scalable businesses
    Grants are awarded to businesses, to scale and improve productivity, which creates more employment, reduce poverty, hunger and improves mental health.
    Financing (in USD)
    Money
    In-kind contribution
    Equipments
    Staff / Technical expertise
    Mentorship
    In-kind contribution
    Digital assets
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    False
    Action Network
    SDG Acceleration Actions
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    Timeline
    16 January 2025 (start date)
    19 December 2025 (date of completion)
    Entity
    Boma Prize for Africa
    SDGs
    Region
    1. Africa
    Other beneficiaries

    All African Countries.

    Countries
    United States of America
    United States of America
    Contact Information