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CFAs: Unlocking Startup Financing through Strategic Partnerships (Tanzania)

September 14, 2024

Tanzanian startup team collaborating in a modern office, showcasing innovation and entrepreneurship in action.

FUNGUO and iMBEJU are launching a joint call to widen the scope for access to patient and flexible financing for Tanzanian startups and innovative MSMEs. This call leverages the equity-free catalytic grants from the FUNGUO Programme to de-risk eligible startups and increase their chances of accessing iMBEJU’s repayable soft loans and other ecosystem financing opportunities.

About the FUNGUO Innovation Programme

The FUNGUO Innovation programme advances Sustainable Development Goals (SDGs) in Tanzania by nurturing impact-driven startups and innovative Micro, Small, and Medium Enterprises (MSMEs). The programme aims to create an enabling environment for innovators and entrepreneurs, generating jobs and improving livelihoods, especially for women and youth.

Co-Funding and Partnerships

FUNGUO is co-funded by the European Union, the British Government through the Africa Technology and Innovation Partnerships (ATIP), and UNDP. The programme is implemented by UNDP Tanzania in collaboration with UNCDF, working closely with the Tanzanian Commission of Science and Technology (COSTECH) and other government agencies.

About iMBEJU

iMBEJU, an initiative of the CRDB Bank Foundation, revitalizes entrepreneurship in Tanzania through revolving soft loans. iMBEJU provides scalable business ideas with societal impact and offers youth and women entrepreneurs essential financial literacy, entrepreneurship skills, and business management training.

Funding Information

Applicants can raise funds through FUNGUO’s catalytic grants (TZS 50 million to TZS 100 million) or iMBEJU’s soft loans (TZS 30 million and above, based on business capacity and repayment ability). Up to 20 applications may receive FUNGUO Catalytic grants, and successful applicants can also access iMBEJU’s soft loan facility. At least 40% of the funding is earmarked for women-founded or women-led businesses.

Eligibility Criteria

For-profit entities or market-oriented social enterprises (startups).
Legally registered in Tanzania (incorporated or with a business name registration).
Majority-owned by Tanzanian citizens (51% or more).
Beyond ideation and pilot stage, with a minimum viable product and some market traction.
Have not raised more than $100,000 in equity or debt to date.