The Innovative Finance Lab (IFL), funded by GIZ, has awarded $150,000 in grants to 30 startups and small and medium-sized enterprises (SMEs). Each grantee received $5,000 to boost their investment readiness by strengthening their institutional capacity.

The grant was awarded following a pitch competition for 43 SMEs and startups who were part of the first alumni of the Technical Assistance Facility (TAF) programme run by the IFL.

Launched in 2022 by UNDP and the National Bank of Ethiopia, the IFL aims to establish a hub for piloting and scaling up flexible and innovative financial instruments that cater to the capital needs of Ethiopia’s startups and SMEs.

Speaking to Shega Dagmawit Shiferaw, Director of the Innovative Financial Lab, highlighted that the companies were connected to existing financing opportunities to provide them with institutional capacity until IFL’s financing arm is up and running.  

As part of its intervention programmes, IFL initiated TAF in early 2023,…

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