Second round of Africa Enterprise Challenge Fund
The second round of the Africa Enterprise Challenge Fund (AECF) Agribusiness Africa Window (AAW) is currently open for applications until February 28, 2015.
The AECF is a special fund that supports business ideas across Africa. The AECF AAW 2nd round will support business ideas in the fields of agribusiness, financial services and value chains which extend across Africa and international markets. Business ideas that qualify for funding must have positive impact on the rural poor: delivering increased employment reduced costs and improved productivity.
The Fund awards grants and repayable grants to private sector companies to support innovative business ideas in agriculture, agribusiness, renewable energy, adaptation to climate change and access to information and financial services.
Its purpose is to improve incomes of smallholder farmers and the rural poor. The AECF is supported by the governments of Australia, Denmark, Netherlands, Sweden and the United Kingdom, as well as the International Fund for Agricultural Development (IFAD).
Interested private sector companies can compete by submitting their new and innovative business ideas on the AECF website. To qualify, the business or institution must be one or more of the following:
- An agribusiness operating, or planning to operate, in an African country.
- A business idea that combines commercial success with a positive impact on hundreds or thousands of poor farmers.
- A business introducing an innovation and planning to do something that has not been done in your country before.
- A business planning to invest, or expand investments, in crop, livestock or aquaculture production, processing, packaging, marketing, or exports.
- A financial institution planning to engage in the agricultural sector, or an information provider for farmers or agribusinesses.
The best ideas are awarded up to USD 1.5m in grants and interest free loans.
The intended enterprise is supposed to enhance the farmers collective ability in marketing so as to enhance their incomes, also it will enable farmers access information on production methods and markets, the enterprise also seeks to create a pool of funds through which other farmers can be supported and helped to grow in business.