Financing Source: AECF - Africa Enterprise Challenge Fund
From energypedia
Last edited on 6/10/2023 by Maria Yetano
(Date format: DD/MM/YYYY)
Key facts
Grants and interest-free loans to businesses in Africa that are engaged in sustainable agriculture, renewable energy and adaptation to climate change, and financial services.
Type of financing
- Grant
- Debt
- Other
Technology scope
- SHS
- Minigrid
- Other
Target beneficiaries
Depending on current competition
Geographical scope
Depending on current competition
Application
Application window
URL
Further information
AECF announces business competitions on its website. Each competition has its own objectives and criteria. The AECF accepts proposals from private-sector entities in Africa and worldwide for business ideas that will be implemented in Africa.
Applications for funding follow a two-stage process. Companies wishing to apply in a particular competition submit an initial application to AECF before the specified calendar deadline. AECF reviews the initial applications. The leading ones are selected for the second stage of the competition.
In the second stage, AECF requires a full business plan. During this stage, AECF visits the applicants to offer guidance. The final business plans are presented to an independent committee for funding decisions.
As of 2020, AECF had supported 145 companies across three regions and 14 countries through its Renewable Energy and Adaptation to Climate Technologies (REACT) portfolio.
The amount of funding that the AECF can award to a single business is between US $15,000 and US $1.5 million, although this amount may vary depending on the competition.
