The Mastercard Foundation’s agri-focused fund is accepting applications.
A grant of between US$500,000 and US$2.5 million, distributed over three years, will be awarded to chosen SMEs and entrepreneurs in the agriculture sector by the Mastercard Foundation Fund for Resilience and Prosperity.
Agribusiness Challenge Fund of the Mastercard Foundation Fund for Resilience and Prosperity targets small and medium-sized enterprises (SMEs) in the agriculture sector that may generate employment possibilities on a large scale for young men and women, young people with disabilities, and youth refugees.
The Agribusiness Challenge Fund will give SMEs in 20 Sub-Saharan African countries that have creative and profitable agribusinesses the chance to get support to grow their companies in an effort to give young people—especially women—long-term employment opportunities.
According to the applicants’ growth stage, scalability, and business strategy, the fund will provide support to selected SMEs in the form of grants, which can range from US$500,000 to US$2.5 million. The funds will be awarded over a three-year period in compliance with predetermined monthly milestone targets.
20 Sub-Saharan African nations—Kenya, Benin, Burundi, Botswana, Cameroon, Côte d’Ivoire, DRC, Ethiopia, Ghana, Malawi, Mozambique, Nigeria, Rwanda, Senegal, Sierra Leone, South Africa, South Sudan, Tanzania, Uganda, and Zambia—are the focus of the Agribusiness Challenge Fund.
According to Smita Sanghrajka, an engagement partner for the Mastercard Foundation Fund for Resilience and Prosperity, “the agriculture sector presents great opportunities for innovative SMEs in Sub-Saharan Africa to grow, with opportunities to create dignified and fulfilling work for young people, especially young women, young persons with disabilities, and refugee youth.”
Applications are open here until November 22.
