MEST Africa, Catalyst Fund, and Mastercard Foundation have launched a $4.3 million accelerator program in Ghana. The two-year program dubbed the Catalyst Fund Inclusive Digital Commerce Accelerator supports e-commerce companies that are building solutions to support MSEs in Ghana. BFA Global is the fund manager.
The global COVID-19 pandemic hit Micro and Small Enterprises (MSEs) the hardest. In Ghana, as well as other countries, many are still struggling to run their businesses. The Catalyst Fund Inclusive Digital Commerce Accelerator aims to scale 6 Ghanaian e-commerce ventures over the next two years.
E-commerce companies will be selected through quantitative and qualitative research. The Investment Advisory Committee will determine existing challenges faced by MSEs and evaluate those3 who meet the eligibility criteria.
The companies with proven desire to serve informal MSEs, that have raised a minimum of $100k investment, serves at least 500 customers, and whose products are in the scaling stage are eligible.
Also, the companies must have been in existence for 6-12 months, be based in Ghana, offers solutions across the e-commerce value chain, be youth-focused, and has the potential to scale within two years. Interest e-commerce startups can apply here.