A grant of between US $500,000 and US $2.5 million, distributed over three years, will be awarded to selected SMEs and entrepreneurs in the agricultural 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 can generate employment opportunities 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.
Based on the applicants’ development stage, scalability, and business model, and in compliance with predetermined periodic milestone targets, the fund will support selected SMEs with grants ranging from US $500,000 to US $2.5 million, distributed over a three-year period.
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 among the 20 Sub-Saharan African nations that the Agribusiness Challenge Fund targets.
“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,” said Smita Sanghrajka, Mastercard Foundation Fund for Resilience and Prosperity engagement partner.
Applications are open until November 22.
