In 2018, Immy Nakyeyune embarked on a transformative journey, founding Mkazipreneur with a resolute mission: to support women entrepreneurs across Africa. Through strategic funding and purposeful partnerships, Mkazipreneur in Uganda has trained over 10,000 women entrepreneurs and transformed non-tech-enabled, women-led SMEs into technologically adept enterprises. The organization has also played a pivotal role in facilitating access to capital and markets, propelling the growth and sustainability of women-led ventures.
There are many similar stories of organizations spurring the growth and sustainability of startups across sub-Saharan Africa. These organizations, often called Entrepreneur Support Organizations (ESOs), operate as incubators, accelerators, and tech hubs. They provide invaluable and contextualized support that African entrepreneurs need to grow within and beyond their local markets. The region boasts over 600 active ESOs, a testament to the continent's high rate of entrepreneurship.
Over the past few years, the ecosystem in sub-Saharan Africa has seen unprecedented growth. Between 2018 and 2022, early-stage funding increased by 227%, highlighting the rapid development of the startup scene in the region. Despite this surge in funding, substantial capital and training shortfalls persist, hindering meaningful advancements to ensure sustainable growth and development. Investors' skepticism adds another layer to this challenge as startups in the region are often overlooked and considered high-risk and lacking the necessary infrastructure and support systems for scalability. De-risking startups is, therefore, key to boosting investor confidence, and this means going beyond directing funding to startups to investing in ESOs, the first line of support for early-stage startups in the region.
Ecosystem Building: Strengthening ESOs for Sustainable GrowthDespite their importance, only a small fraction of funding reaches ESOs. Organizations such as the Argidius Foundation are at the forefront of ecosystem-building initiatives, supporting the creation of effective ecosystems for small and medium enterprises. Through the Uganda Ecosystem Builders program , the foundation partnered with Village Capital to support Mkazipreneur and 12 other ESOs to improve their strategy and sustainability.
"After seven years of offering free services, the program challenged us to shift to paid-for-services, and we have not turned back. The start was slow, but we have attracted a new caliber of startup founders who are able and willing to pay. The beauty of paid-for programs is
