Grey, a prominent FinTech company, has introduced UpGreyed Her, an equity-free grant initiative, with the aim of promoting financial inclusion for African women and celebrating Women’s History Month 2024.
The initiative, launched on International Women’s Day, garnered an impressive response, attracting nearly 1,000 applications from six African countries within a fortnight.
Female entrepreneurs across various industries and regions showcased their passion for growth and outlined their business expansion needs, presenting their pitch decks in their applications to detail their scaling plans and go-to-market strategies.
Applicants cited reasons such as acquiring new technology/equipment, building their brand, raising capital, and hiring new staff as their primary motivations for applying.
A distinguished panel of women leaders from diverse industries evaluated the applications based on scalability, leadership, business viability, unique value proposition, and social impact. The panel shortlisted five finalists, each demonstrating innovative approaches, strong leadership, and a commitment to sustainability and inclusivity.
Following a rigorous selection process, three winners were chosen based on their unique approaches to enhancing product competitiveness, developing new product concepts, demonstrating sustainability commitments, and emphasizing diversity.
Grey announced the winners through their social media platforms on April 12, 2024. Ameenah Kazeem, founder of OfadaHub Ltd, emerged as the winner, receiving a $4,000 prize, while Chinazom Arinze, founder of AutoGirl Ltd, and Zigwai Fanda, founder of LadyBambooLtd, were named runners-up, each winning $2,000.
The grant presentation ceremony took place on April 15, 2024, in Lagos, with founders of the winning companies and the UpGreyed Her team in attendance.
During her keynote address, Iheakachi Nwabueze emphasized Grey’s goal of hosting a meaningful Women’s History Month celebration. She highlighted UpGreyed Her’s objective to bridge the $42 billion funding gap faced by African female entrepreneurs, expressing pride in the campaign’s success and the emergence of three exceptional female business owners.
Nwabueze commended the 773 applicants for their participation and emphasized the innovative and impactful businesses led by women across the continent.
Ameenah Kazeem expressed gratitude for Grey’s investment in her business, acknowledging the challenges faced by female entrepreneurs and sharing her aspirations for OfadaHub’s future success.
Judge Nishita Devanand praised Grey for its inclusive and forward-thinking initiative, emphasizing the importance of encouragement and support for entrepreneurial dreams. She congratulated the winners and expressed confidence that the grants would propel their businesses forward.
Blessing Abeng applauded Grey’s efforts to promote gender diversity and inclusion in the workplace, congratulating the winners and predicting that the grants would facilitate their businesses’ growth.
The UpGreyed Her Initiative partnered with Her Network, a global media platform amplifying women’s voices and impact stories.
Grey, a leading provider of secure global banking solutions, focuses on emerging markets, offering services such as currency exchange and access to virtual cards to enable individuals and businesses to own and manage their foreign bank accounts easily.
