Do you have a business idea?
Do you already run a business?
Are you looking to raise capital?
Here are seven grants and loan programmes you should explore in 2021.
1. Lagos State Employment Trust Fund (LSETF) MSME Loan Programme
Status: Open — Apply at apply.lsetf.ng
The LSETF provides affordable loans to help small businesses grow, create jobs, and build wealth. The loan carries a 5% annual interest rate and is open to registered residents of Lagos State.
Loan Categories:
- Women Entrepreneurs Fund: Up to ₦5,000,000
- Must be a registered company with CAC
- Provide personal tax details
- Must have LASRRA ID + federal government-issued ID
- Two guarantors
- Commitment to hiring new employees
- SME Owners: Up to ₦5,000,000 (same criteria as above)
- Micro Enterprises: Up to ₦500,000
- Personal tax details
- LASRRA ID + federal government-issued ID
- One guarantor
- Micro Start-Ups: Up to ₦250,000
- Relevant training certificate(s)
- LASRRA ID + federal government-issued ID
- One guarantor
📍 Learn how to get a LASRRA ID at lagosresidents.gov.ng
📍 Learn how to register your business with CAC here.
2. The Anzisha Prize (with Mastercard Foundation)
Status: Applications open February–April 2021 — Apply at anzishaprize.org/apply
The Anzisha Prize supports young African entrepreneurs (ages 18–22) running small businesses. Each year, 20 entrepreneurs share over $100,000 in prize money.
Eligibility:
- Must be a national of an African country
- The business must operate in Africa, serving African customers
- Must already have an active business (not just an idea)
- Any sector is welcome — tech, arts, sports, social projects, etc.
3. Tony Elumelu Foundation Entrepreneurship Programme
Status: Open until March 31, 2021 — Apply at tefconnect.com
The TEF Programme is a $100 million initiative to empower 10,000 African entrepreneurs over 10 years. It provides training, mentorship, and seed funding for innovative start-ups and scalable business ideas.
Programme Stages:
- Application
- Training & Mentorship
- Business Plan Submission
- Pitching
- Seed Capital
4. GroFin SME Finance
Status: Ongoing — Apply at grofin.com/assessment-form
GroFin provides loans and business support to SMEs in sectors such as Education, Healthcare, Agri-processing, Manufacturing, and Essential Services (Energy, Waste, Water, Recycling).
Loan Details:
- $100,000 – $1.5 million (₦38m – ₦571m)
- 3–8 year duration
- Businesses must operate for 2–3 years with an annual turnover at least 1.5x the loan amount
- Start-ups considered case-by-case
- Personal guarantees and collateral may be required
Beyond loans, GroFin offers tailored support and access to global business networks.
5. Orange Corners Nigeria
Status: Applications open until Jan. 26, 2021 (next round in June) — Apply at orangecorners.com/nigeria
Orange Corners is a 6-month incubation programme for Nigerian entrepreneurs (ages 18–35). It provides training, mentorship, market access, and financing opportunities.
Focus Sectors: Circular Economy, Agribusiness, Health, Education, Creatives.
Requirements:
- Passport photo
- Birth certificate
- School certificate/statement of result
- CAC registration (optional)
6. African Women’s Development Fund (AWDF)
Status: Ongoing — Apply at awdf.org
AWDF funds African women’s organisations advancing women’s rights across the continent.
Focus Areas:
- Body & Health Rights
- Economic Security & Justice
- Leadership, Participation & Peace
Eligibility:
- Women-led organisation with a majority of women staff/board
- Registered in an African country
- Minimum three years in operation
- Solid organisational & financial structures
- Ability to report measurable outcomes
Applications can be submitted in English, French, or Portuguese via email: proposals@awdf.org.
7. Shell LiveWIRE Nigeria
Status: Applications open in Q4 each year — Learn more at ng.livewire.shell
Shell LiveWIRE supports youth entrepreneurship in the Niger Delta (ages 18–35). The programme provides training, business development services, and start-up capital.
Eligibility:
- Resident of Edo, Delta, Bayelsa, Rivers, Abia, Imo, or Akwa-Ibom
- Age 18–35
- Innovative business idea
- University degree or HND
- NYSC completion (if applicable)
- Not in paid employment
Final Note
These opportunities offer more than funding — they provide training, mentorship, and networks that can take your business further. Apply early, prepare thoroughly, and position yourself for growth.
