Businesswoman, Ujama Mushimba on Wednesday launched the Good Women Good Business (GWGB) Network and Venture Capital Fund, aimed at mobilising funding for women entrepreneurs in the growth phrase of their businesses and are unable to secure capital.
GWGB is a network and fund for women doing business or aspiring to run their own businesses, enabling them to get funding through a venture capital model that includes equity funding.
Mushimba, who is the founder of GWGB, said during the official launch of the fund that the network deals with real business, sustainability and discussing the economic impact and contributing to the national gross domestic product and how they complement the efforts of the Government.
A start up fund is set up to support women entrepreneurs beyond funding with expertise including operational, financial and marketing, training, coaching and mentoring.
The fund manager, Charmaine Nyandoro said funding is provided for a portion of equity in the business.
“All our investments are carefully selected based on the merit by our investment and portfolio management using the top down approach,” she said.
She explained that the fund’s minimum investment value was N.dollars 250
000 while the maximum value would be determined by the type of business, and that the proprietor would have the first right of refusal to buy back their equity at a value to be determined between the buyer and seller.
Nyandoro said GWGB would invest in all sectors with the exception of mining, agriculture and construction due to the exposure associated.