Need money for your agro business? Apply for the Agribusiness Challenge Fund to get $2.5 million in grants

The Agribusiness Challenge Fund is a unique funding opportunity aimed at supporting small and medium-sized enterprises (SMEs) in the agriculture sector across Africa.

With a focus on creating sustainable jobs, particularly for young men and women, this initiative offers grants between $500,000 and $2.5 million to help businesses scale their operations, increase productivity, and foster economic growth in their regions.

Whether you’re working in livestock, climate-resilient crop varieties, or horticulture, this challenge fund provides crucial financial support for projects that have the potential to transform African agriculture. Categories of interest in the Agribusiness Challenge Fund include:

• Primary production

• Processing and aggregation

• Trading and market linkages

Benefits

Participants in the Agribusiness Challenge Fund can access:

• Grants between $500,000 and $2.5 million for scaling their agribusiness.
• Opportunities to create sustainable employment, especially for youth and women.
• Sector-specific support for projects in key agricultural areas such as livestock and climate-resilient farming techniques.
• Tailored financial and technical assistance to ensure projects are not only viable but also scalable for long-term success.

Judging Criteria

Eligible businesses will be judged on:

1. Innovation: How innovative is the solution being proposed? Does it present a new way to address an existing problem within the agriculture sector?
2. Scalability: Can this business or project be scaled to impact a larger audience? How many jobs will it create, and what is its potential for market expansion?
3. Impact on Youth and Women: Special consideration will be given to projects that aim to empower young people and women, especially in underserved or rural communities.
4. Sustainability: The long-term viability of the business will be key in determining who receives funding. Can this initiative sustain itself beyond the initial grant period?

Eligibility Criteria

To be considered for the Agribusiness Challenge Fund, applicants must meet the following requirements:

• Be an SME operating within the agribusiness space, with a focus on areas like livestock, climate-resilient crop varieties, or other agricultural innovations.
• Businesses must be registered and operational in eligible African countries.
• Have a clear plan for creating employment, particularly for young people and women in the region.
• Provide details of how the grant will be used to scale operations, improve productivity, and create lasting impact.

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Previous Success Stories

The Agribusiness Challenge Fund has already made a significant impact on African SMEs. Previous winners include companies focused on sustainable livestock farming and precision agriculture technologies, which have gone on to create hundreds of jobs across multiple African countries. Their projects have not only boosted local economies but also introduced innovative farming techniques that have improved crop yields and livestock management.

Why You Should Apply

With agriculture being a cornerstone of African economies, opportunities like the Agribusiness Challenge Fund are essential for startups and growing businesses looking to make a meaningful impact.

By securing up to $2.5 million in funding, your business could:

• – Expand operations into new markets.
  – Introduce cutting-edge agricultural practices that improve productivity.
  – Create sustainable, long-term employment opportunities, particularly for youth and women.

In a region where agriculture is critical to food security and economic development, this funding could be a game changer.

How to apply

Applications for the Agribusiness Challenge Fund are now open, and if your business meets the eligibility requirements, you can apply by visiting the official website, filling in the application form, and providing details about your project, its potential impact, and how the funding will be used. Eligible SMEs must submit their proposals by November 22, 2024. 

This is a fantastic opportunity for agribusinesses to gain financial backing while contributing to sustainable development in Africa’s agriculture sector.

Opportunities such as the Agribusiness Challenge Fund offer a lifeline to African SMEs working to transform agriculture. With a focus on sustainability, job creation, and innovation, this fund will support projects that make a lasting difference in local economies and communities.

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Do you have an innovative business (small, mid-scale business or start-up) that  adds value, creates opportunities or solves practical problems? then you`ve got a story worth telling? Shoot us an email with SUBJECT — “Story Worth Telling (+ Name of Business)” — to editorial@smepeaks.com