The Absa Young Africa Works (YAW) project is in partnership with Mastercard Foundation to fund and train 5,000 local businesses with the aim of creating 50,000 jobs in Ghana.
The project achieves this through capacity building and innovative lending solutions with a strong focus on women-led, youth, Fintech and Agric businesses. The Absa Young Africa Works Fintech Grant, an aspect of the project, provides much-needed financial support to youth operating in the Fintech and Agritech environment to close the access to funding gap.
Fintech and Agritech businesses, including startups with promising business models, will be the key focus for this grant. It is expected that by the end of the project in 2025, 20 Fintechs/Agritechs will be supported through financing (unsecured loans totaling about US$2.4 million) and a US$250,000 grant budget allocated to promote innovation and job creation in line with the Absa Young Africa Works objective.

Describe the format of your programme.:

YAW is a 5-year (2020-2025) strategic partnership between Absa Bank Ghana LTD and the Mastercard Foundation (MCF). The goal of the foundation is to create 50,000 dignified and fulfilling jobs for young men and women by 2025.
– Available to youth-led SMEs
– Available to women-led MSMEs
– Available to FinTech and Agritech businesses
– Available to Agribusinesses
– Available to non-bank financial institutions
– To qualify for the programme, your business should have the capacity to employ additional staff
– To qualify for capacity building opportunity, you must actively operate a business account with Absa Bank for a minimum of 3 months
– To qualify for funding, you must actively operate a business account with Absa Bank for a minimum of 1 year
– New customers can open an account with Absa today.
(Must have identified a successor who is ready to take over the business in your absence as the business owner and must have no adverse findings from Credit Reference Bureau)

Three ways to apply
– Visit any Absa Bank branch nationwide or speak to your Relationship Manager to sign up for the Absa – – – Young Africa Works Programme
– Download the Expression of Interest (EOI) form and email the completed form to: YAWProjectTeam1@absa.africa or Call: +233 (0)302 66 7686

Applicants will be notified through their preferred channel of communication of the decision of the steering committee. The communication will explain the basis of your application decision.

Qualification criteria:
– The business must be registered
– Must be a Fintech/Agritech in the ideation stage or an SME looking to introduce digitalisation into their business operations
– All Fintech/Agritech businesses must have owners younger than age of 36
– Must have a functioning team
– Must pass all regulatory checks
– Must be willing to open a business account with Absa Bank Ghana LTD
– Must have the potential to create jobs
– Must be willing to undergo a training programme
– More advantage will be given to women-led Fintechs and people with disabilities (PWDs)

Brief detail of instructors used:

Other partners and funders: Mastercard Foundation

Non Financial Support Provided: Technical Assistance & Capacity Building

Financial Support Provided: Grant