Africa Enterprise Challenge Fund

Africa Enterprise Challenge Fund Location: Equatorial Fidelity Centre Opposite New Safaricom House Behind Shell Petrol station 3rd Floor Waiyaki Way Nairobi Mailing Address: P O Box 13459-00100 GPO Nairobi - Kenya Contact: Phone: +254 20 2699137 / 8 / 9 General email: [email protected] Projects email: [email protected] Financed by: The Consultative Group to Assist the Poor (CGAP), the UK Department for International Development (DFID), the International Fund for Agricultural Development (IFAD), and the Netherlands Ministry of Foreign Affairs (NMFA) Website: link

Finance Finance mechanism: can be a grant only, a repayable grant only or a combination of both Budget: US$50-100m Funding range: Minimum: US$ 250,000 Maximum: US$ 1,500,000 Minimum return on investment: Period / deadlines: Competition rounds are consecutive, countdown on website. 2 to 4 times per year

Aim — The goal of the AECF is to accelerate pro-poor growth in Africa, thereby increasing employment, livelihood opportunities and incomes, and reducing poverty

More information — The AECF (the “fund”) is a competition, open only to for-profit private companies which have, or intend to, start business enterprises in Sub-Saharan Africa in the field of agriculture, agri-business, rural financial services and media and information services to these sectors. The fund will run a number of competitions each year for 6 years.

Sectors —

Who can apply

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Type of organisations targeted —

Specific organisations targeted — Pro-profit private companies which have, or intend to, start business enterprises in Sub-Saharan Africa

Type of projects —

Specific type of projects — Primarily ideas in the field of agriculture, agri-business, rural financial services and the value chain which extends from rural areas to their local and international markets. To qualify for funding your business idea should have a positive impact on the rural poor in Sub-Saharan Africa: delivering increased employment, reduced costs, and improved productivity

Project stadia — Business idea

Target world region —

Specific information on target countries — Sub-Saharan African countries

Criteria — 1. The applicant must be a fully registered and licenced for-profit company 2. The Company/applicant must at least match (in cash or kind) the AECF's contribution 3. The business idea must be innovative 4. The funds requested from the AECF must be additional 5. The business idea must have the potential to be commercially viable 6. The business idea/project must benefit large numbers of people living in rural areas in Africa.

How to apply

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Application procedure — The initial application form is available on this website. You have to register on line, complete the form and submit it via this website - it is easy to complete and only requires an outline description of your company and your project.

Selection procedure — Funding approval for successful applications will be granted within a maximum of 150 days from the closing date for initial applications: Within 60 days of the closing date for each round, the AECF will decide which applications should be invited to submit a full proposal or business plan. The full proposal will then be required within 60 days. The AECF will take a further 30 days to scrutinize projects for approval.