The Africa Enterprise Challenge Fund (AECF) is a US$50-100m private sector fund, backed by some of the biggest names in development finance and hosted by the Alliance for a Green Revolution in Africa (AGRA). Their aim is to encourage private sector companies to compete for like-for-like investment support for their new and innovative business ideas.
The AECF is open to proposals from all countries in Africa. However it will focus initially on 13 countries (Kenya, Uganda, Tanzania, Rwanda, Burundi, Ghana, Nigeria, Mali, Burkina Faso, South Africa, Mozambique, Malawi and Zambia) operating from three regional hubs (Nairobi, Accra and Johannesburg). Multi-country and regional projects are also eligible.
AGRA is an alliance jointly created in 2006 by The Rockefeller Foundation and the Bill & Melinda Gates Foundation aimed at improving agricultural productivity and small holder farmer well-being throughout sub-Saharan Africa. AGRA is registered as a non-profit entity in the United States, but operates out of Nairobi, Kenya, where it is registered as the branch of a foreign corporate entity. From Kenya, AGRA is managing programs supporting agricultural development across sub-Saharan Africa. The AECF is an AGRA initiative that supports AGRA’s mission. The Board of AGRA provides the governance structure for the AECF and is responsible to the AECF’s donors. However, in practice, the AECF operates as an independent fund reporting to its Investment Committee which in turn reports to AGRA’s Board.
Guidelines for Entry
- The applicant must be for-profit company with at least 3 years of audited accounts.
- The AECF’s minimum grant+loan size is US$250,000 and maximum is US$1.5m
- The Company/applicant must at least match (in cash or kind) the AECF’s contribution.
- The business idea/project must benefit large numbers of people living in rural areas.
- All applicants should register on-line through the AECF website.
For more details on entry rules and conditions click here. If you are an African Entrepreneur with a Big Idea you have 34 days to submit your application!
About the author: Jonathan Gosier is a software developer, writer and social entrepreneur. He currently lives in Kampala, Uganda where he incubates and invests in East African entrepreneurs as the CEO of Appfrica Labs. He's also a TED Fellow.
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Africa Enterprise Challenge Fund: Investing in African Ideas
The Africa Enterprise Challenge Fund (AECF) is a US$50-100m private sector fund, backed by some of the biggest names in development finance and hosted by the Alliance for a Green Revolution in Africa (AGRA). Their aim is to encourage private sector companies to compete for like-for-like investment support for their new and innovative business ideas.
The AECF is open to proposals from all countries in Africa. However it will focus initially on 13 countries (Kenya, Uganda, Tanzania, Rwanda, Burundi, Ghana, Nigeria, Mali, Burkina Faso, South Africa, Mozambique, Malawi and Zambia) operating from three regional hubs (Nairobi, Accra and Johannesburg). Multi-country and regional projects are also eligible.
AGRA is an alliance jointly created in 2006 by The Rockefeller Foundation and the Bill & Melinda Gates Foundation aimed at improving agricultural productivity and small holder farmer well-being throughout sub-Saharan Africa. AGRA is registered as a non-profit entity in the United States, but operates out of Nairobi, Kenya, where it is registered as the branch of a foreign corporate entity. From Kenya, AGRA is managing programs supporting agricultural development across sub-Saharan Africa. The AECF is an AGRA initiative that supports AGRA’s mission. The Board of AGRA provides the governance structure for the AECF and is responsible to the AECF’s donors. However, in practice, the AECF operates as an independent fund reporting to its Investment Committee which in turn reports to AGRA’s Board.
Guidelines for Entry
For more details on entry rules and conditions click here. If you are an African Entrepreneur with a Big Idea you have 34 days to submit your application!
Apply Now