MasterCard, through its Agribusiness Challenge Fund, is seeking proposals from Small and Medium-sized Enterprises(SMEs) in the agriculture sector in Kenya and 20 other African Countries, with projects that can create employment opportunities for the youth, women, those with disabilities as well as refugees.
SMEs selected by MasterCard will receive grants ranging from US$ 500,000 to US$ 2,500,000, disbursed over 3 years, based on the applicants’ development stage, scalability, and business model.
MasterCard said any funding will be done after the evaluation of the SME and its proposal and will also include the provision of technical assistance for three years.
The Agribusiness Challenge Fund targets SMEs in 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.
“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, those with disabilities and refugees,” said Smita Sanghrajka, MasterCard Foundation Fund for Resilience and Prosperity Engagement Partner.
Potential applicants for the Agribusiness Challenge Fund can register and access the application platform through the Fund website www.frp.org
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