How Startups And SMEs In South Africa And Nigeria Can Access Facebook’s New Grant Programme

Social media site Facebook has launched a grant programme to provide funding for eligible startups small businesses in Nigeria and South Africa

Nunu Ntshingila, Regional Director, Facebook Africa
Nunu Ntshingila, Regional Director, Facebook Africa

The grant, valued at over R8.5-million will be used to support 217 local small businesses in South Africa. For Nigerian SMEs and startups, Facebook is also offering N400,128 in cash grants and Naira 240,077 in ad credits to help during this challenging time. This grant programme forms as part of Facebook’s $100-million Global Grants Programme which was announced earlier this year.

“We know small businesses are the engines of the South African economy, the COVID-19 pandemic has extended beyond a public health crisis to an economic emergency, with these small businesses most affected. We’re listening to the challenges these small business owners are facing right now and want to provide useful resources for them during this difficult and uncertain year,” Nunu Ntshingila, Regional Director, Facebook Africa said. 

  • The Global Grants Programme aims to support 30 000 small businesses in over 30 countries across the globe and is aimed at stimulating economic recovering following the devastating effects of Covid-19.

How Startups And SMEs in Nigeria Can Have Access To The Grant

To be eligible to apply, a Nigerian SME or startup must:

  • Be a for-profit business
  • Have between 2 and 50 employees
  • Have been in business for over a year
  • Have experienced challenges from COVID-19
  • Be in or near a location where Facebook operates
  • All locations in Nigeria are eligible
  • Applicants must also include a copy of their financial statements or accounts along with a legal document proving that the business has been established for at least one year, such as annual tax return, business registration document (CAC documents), business licence or partnership agreement.
  • At a minimum, the financial statements provided should include a balance sheet and an income statement/profit or loss statement. A balance sheet typically includes a summary of all of the business’ assets and liabilities.
  • For example assets include items such as cash, balances due from customers, buildings owned by the business, stock held by the business etc. For example, liabilities include balances due to suppliers, loans due to financial institutions etc.
  •  An income statement/profit or loss statement includes a summary of income, expenses and profit for a year. 
  • Abridged financial statements or accounts will not be accepted.

For Nigerian applicants, applications are open from 2pm on 24 August 2020 to 5pm on 04 September 2020.

For more information about Facebook ‘s grant programme, click here.

To apply as a Nigerian SME or startup, click here.

The grants will be managed and administered by Deloitte Nigeria. Provided as a combination of cash and ad credits, the grants aim to assist small businesses in their rebuilding, re-engineering, and recovery operations.

Read also: How Startups In Nigeria Can Benefit From Pioneer Status Tax (Free Tax) Incentive

How South African SMEs Or Startups May Apply For The Funding

Small business owners are encouraged to apply for the funding and will undergo an eligibility selection process.

Eligibility criteria

In order to be eligible to apply for the grant programme, small businesses must meet the below requirements:

  • Have between 2 and 50 employees
  • Have been in business for over a year
  • Have experienced challenges due to Covid-19
  • Be in or near a location where Facebook operates

Applications will be open from 27 August and will close on 5 September 2020 at 6pm.

Businesses can apply here .

More information about Facebook ‘s grant programme can be found here.

The grants will be managed and administered by Deloitte South Africa. Provided as a combination of cash and ad credits, the grants aim to assist small businesses in their rebuilding, re-engineering, and recovery operations.

Free digitalisation training for small businesses

Facebook has also launched a series of free webinars that offer training in digitalisation and improving social connection infrastructure as more consumers are moving to online purchasing.

Titled, ‘Boost with Facebook Across South Africa’, small business owners are encouraged to attend these webinars as it will cover a range of topics from businesses resilience, how to take your business online, and more.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer