Founder of African Fashion Foundation and managing partner for Annan Capital Partners, Roberta Annan just spearheaded the launch of IFFAC in Paris, this past weekend. IFFAC which stands for Impact Fund For African Creatives in a capital investments vehicle set to support African creative entrepreneurs via grants, angel and early investments for sustain and develop their businesses, which working towards a structured form of mentorship for participants.
The investment company will be awarding creatives grants ranging anywhere from 10,000 Euros to 50,000 Euros for selected projects. According to BusinessOfFashion.com, Entrepreneurs who prescribe to their skill-building exercises will be eligible for consideration of funds ranging from 250,000 to 2million Euros.
According to Annan, the idea for IFFAC grew out of the African Fashion Foundation, which she founded in 2011 to empower emerging designers on the continent.
“When I was just starting to build my brand, the support I received from Roberta and the African Fashion Foundation was essential,” said Nigerian designer Kenneth Ize, one of the entrepreneurs slated to receive funding from IFFAC. “That support was what allowed me to elevate my work to a global audience.”
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