Collaboration with OvO
Support for Entrepreneurs in Benin
The Project
Entrepreneurship is growing in Benin, but entrepreneurs face numerous challenges. Young and female entrepreneurs, in particular, encounter significant difficulties. Access to financing is limited, administrative processes are complex, and quality guidance is often lacking. As a result, many SMEs struggle to transition from start-ups to sustainable organizations.
This is why the Hubi & Vinciane Foundation has partnered with Entrepreneurs for Entrepreneurs (Ondernemers voor Ondernemers – OvO). Together, they provide entrepreneurs the tools they need to succeed through grants, loans, and high-quality guidance.
Objectives
Our goal is to support young and female entrepreneurs from the Ariziki Center in sustainably growing their businesses and taking them to the next level.
Project Description
The program consists of three steps:
- Selection Process
Entrepreneurs begin with an incubation program at the Ariziki Center. Only businesses that show sufficient potential are selected for the OvO program. - Financial Support
Businesses that have been active for at least two years are eligible for guidance and financial support. This support can come in the form of grants or loans with an interest rate as low as 7%—a much more favourable rate than those offered by banks in Benin. - Tailored Guidance
Each business receives support from both a local and an international expert. Together, they analyze the business, develop a business plan, and make concrete improvement proposals.
Results and Evolution
The initial results are positive. Businesses that received support from OvO have experienced stronger growth, better structuring, and increased resilience to competition. Thanks to the loans and personalized guidance, they now have a solid foundation for further development.
We aim to expand this project so that even more entrepreneurs can benefit from OvO’s support. This partnership contributes to the development of budding entrepreneurs, fosters the creation of new jobs, and reduces poverty in rural areas.
Our Partners
Our collaboration with Entrepreneurs for Entrepreneurs (OvO) makes this project possible. Together, we are building a sustainable future for entrepreneurs in Benin..
