Programme Overview
Young underserved entrepreneurs face significant barriers to accessing finance that hinder their growth and limit their potential. Running from September 2024 to August 2027, the ‘Unlocking Opportunities for Inclusive Financial Growth’ programme, funded by Standard Chartered Foundation as part of Futuremakers by Standard Chartered, is a transformative three-year initiative designed to address the financial barriers faced by young, underserved entrepreneurs in Kenya, Nigeria, and Vietnam. Working with local YBI members — Somo in Kenya, Fate Foundation in Nigeria, and Startup Vietnam Foundation —the programme aims to empower 884 young entrepreneurs to create and sustain over 2,700 jobs, driving social transformation and economic growth.
The programme is committed to breaking down barriers and empowering traditionally marginalised young business owners. By prioritising gender and disability inclusion, as well as enhanced access to financial resources, it aims to uplift rural and low-income communities, people living with disabilities and women entrepreneurs. This programme is designed to provide critical support to those who face limited access to essential resources, enabling them to thrive and contribute to sustainable economic growth.
Programme Structure
The programme spans three YBI member-led projects delivering locally tailored innovative access to finance projects:
- Somo in Kenya aims to support 185 young entrepreneurs, including 90 per cent women, from low-income communities to create and sustain 1,242 jobs. The initiative focuses on providing alternative financing access through a unique credit-scoring system, positioning entrepreneurs to build investable, commercially viable businesses. Activities include training in Somo’s digital tools DigiKua and SomoInvest, disbursement of 150 microloans ranging from $1,000 to $25,000, and support to achieve investor readiness.
- FATE Foundation in Nigeria aims to empower 300 young entrepreneurs, including 60 per cent women and 30 people with disabilities, to create and sustain 600 jobs through comprehensive support that emphasises financial literacy and business development. FATE Foundation will select 120 entrepreneurs to receive tailored advisory services and microloans to foster sustainable growth.
- Startup Vietnam Foundation’s ‘Master the Money Game’ project aims to deliver five six-month accelerators for 400 underserved young entrepreneurs, focusing on commercial viability and resilience, with the aim to create and sustain 820 jobs. The project offers training in green skills, investment readiness, and mentorship, with participants showcasing their businesses to investors on Demo Days, and 25 stand-out businesses receiving seed funding.
In addition to these member-led projects, YBI is delivering activities aimed at scaling and refining financial access and inclusion strategies by harnessing insights and best practices from the programme:
- Inclusive Access to Finance Guide and Assessment: In collaboration with experts and programme members, YBI will develop a comprehensive guide to help enterprise support organisations (ESOs) provide targeted financial support. This will empower ESOs to adopt tailored strategies to enhance funding accessibility for young entrepreneurs.
- Access to Finance Community of Practice: YBI facilitates collaborative learning sessions and knowledge sharing among programme members, enabling them to improve their financial support services. The YBI learning management system (LMS) acts as a central hub for resources, insights, and ongoing engagement.
- Research paper on Access to Finance: YBI will be collecting qualitative and primary data in the form of key informant interviews with programme stakeholders including programme staff (members) and participating young entrepreneurs. Learnings will be analysed, evaluated and synthesised with a research paper being published at the end of the programme.
