Africa Enterprise Challenge Fund

The Africa Enterprise Challenge Fund (AECF) is a $ 120 million multi-donor private sector fund, hosted by the Alliance for a Green Revolution in Africa (AGRA). The aim is to encourage private sector companies to compete for investment support for their new business ideas that will lead to growth in the rural economies of Africa, generate employment and create new opportunities for systemic change in the markets that serve them.

 

Main features

  • AECF is a competition.
  • AECF is implemented via funding windows targeted at specific economic sectors AND at specific regions/countries (see below for specifications).
  • Each window will offer multiple funding rounds for new applications.
  • Each funding round is divided in two stages. After submitting the application form, a group of selected projects will be invited to submit a detailed business plan.

 

Current funding windows 2012

  • Post Conflict Window (round 1) (the Democratic Republic of Congo, Sierra Leone, Liberia and Somalia)
  • Tanzania Agribusiness window (round 2)
  • Zimbabwe Window (round 3)
     

Eligible applicants

The competition is open to companies from anywhere in the world, provided the business idea is implemented in Africa.

  • The applicant(s) must be able to fund at least 50% of the project budget themselves.

 

Funding

  • The AECF provides grants and interest free loans to businesses who wish to implement projects in Africa.
  • The maximum amount the AECF can award to a single business idea in the form of grant or interest free loan is $ 1.5 million and the minimum amount is $ 250,000. The average amount is around $ 750,000.

 

Eligible projects

  • Project should be in line with requirements of the funding window, but generally should support businesses working in the field of agriculture, agri-business and rural financial services.
  • Project should have a positive impact on a large number of smallholder farmers / poor people living in rural areas
  • Projects should deliver increased employment and income.
  • Applications will need to demonstrate that the project is commercially viable.
  • Applications should provide evidence that applicant is technical and financial capable to deliver.


Please contact us for a free assessment to find out whether your business plan may qualify for AECF grant-funding.
Grants