Does it ring a bell? As it is the year of the sequel, you might want to cast your mind back to the column of October 11, 2024, titled ‘Women exporters’ fund’. The fund’s full name is Women Exporters in the Digital Economy, abbreviated to WEIDE. It is a fund that aims to help women tap into opportunities in international trade and the digital economy.

The targeted beneficiaries are women-led small, medium-sized and microenterprises (SMMEs) in the formal sector that are already exporters or have the potential to become exporters.

On September 11, 2024, the World Trade Organisation (WTO) and the International Trade Centre announced the commencement of the implementation of the fund, following its launch on February 25, 2024, at the WTO’s thirteenth Ministerial Conference, in Abu Dhabi, in the United Arab Emirates (UAE).

The fund, made possible through the support of the UAE government, world football governing body FIFA, the World Cup Qatar 2022TM Legacy Fund, and the Kingdom of Bahrain, is a $50-million fund supporting women-led SMMEs to overcome barriers to trade by improving access to finance, digital skills, international markets and support networks.

On August 25, the WTO issued a media release titled ‘WEIDE Fund selects women beneficiaries in Mongolia as implementation gathers momentum’, in which it announced that 46 women-led businesses in Mongolia have been selected from 307 applicants as beneficiaries of the WEIDE Fund. The 46 selected beneficiaries comprise 26 Booster Grant recipients (receiving financial support of up to $30 000) and 20 Discovery Grant recipients (financial support of $2 000 to $5 000).

The beneficiaries will receive targeted support to boost their digital capabilities, financial readiness and export potential. The support organisations that will be supporting the implementation are the Jordan Enterprise Development Corporation, the Mongolian National Chamber of Commerce and Industry, the Nigerian Export Promotion Council, and ProDominicana. This aligns with the fund’s approach of selecting four business support organisations in developing countries as partners in the pilot phase through a competitive process.

For South African businesses to consider, the fund will actively seek partnerships with various stakeholders, including governments, international organisations, development banks, philanthropic foundations and the private sector to implement initiatives aimed at maximising the impact of the fund’s activities. Collaboration and knowledge sharing will be crucial to achieving sustainable and scalable solutions.

The fund’s activities will be implemented through projects in specific countries in cooperation with business support organisations selected through a competitive call for proposals. At the country level, the fund will implement a two-track system tailored to meet the needs of the targeted SMMEs. Both tracks will include a grant and complementary technical assistance.

Track 1 will focus on improving digital skills, expanding professional networks and enhancing market access. The programme of support is expected to last nine to 12 months. The fund will provide an initial grant of $2 000 to $5 000 to each selected business to provide working capital or for the purchase of equipment. This grant will be disbursed in two instalments, with each business required to set clear business objectives, demonstrate commitment to the aims of the fund and undergo performance checks.

Track 2 will help export or export-ready women-led SMMEs scale up their export activities and expand their markets, focusing on the use of digital platforms to do so. The programme for each business is expected to last about 18 months. The fund will provide grants of up to $30 000 to support the selected businesses with working capital and/or for the purchase of equipment. The fund’s technical committee may extend this threshold.

Grant payments will be linked to the achievement of milestones and performance checks. The financial support is intended to incentivise matching finance from other sources. The technical assistance for the Booster Grant includes bespoke coaching to help the enterprise develop a business acceleration plan. The plan will identify areas for support and investment under the Booster Grant. Technical assistance may include support to enhance export competitiveness, investment readiness, certification and intellectual property registration, the use of new equipment or technologies, market access and the development of other skills.

More information on the fund can be accessed at: www.wto.org/english/tratop_e/ womenandtrade_e/weide_e.htm