From the AECF website: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). Our aim is to encourage private sector companies to compete for like-for-like investment support for their new and innovative business ideas.
How does it work?
The AECF (the “fund”) is a competition, open only to for-profit private companies which have, or intend to, start business enterprises in Sub-Saharan Africa in the field of agriculture, agri-business, rural financial services and related service industries. The fund will run two competitions per year for 6 years starting in mid-2008. The AECF has an agreed sum of money (currently US$7.5m) available (in the form of grants and non-recourse loans) for each round of its competition for which private companies are invited to submit proposals for funding.
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