AgriFI Kenya Challenge Fund is implemented by Self Help Africa with technical support from Imani Development Limited.Self Help Africa (SHA) is a leading international development organisation based in Nairobi with headquarters in Ireland and offices in the United Kingdom and United States of America. Imani Development is a private economic and development consultancy firm that facilitates the process of economic growth and poverty reduction in the developing world.
The AgriFI Kenya Challenge Fund is looking to award an indicative amount of EUR 18,000,000 to agri-enterprises as financial support. The funds will be allocated through three (3) separate calls for proposals. This second call will allocate up to approximately EUR 8,000,000.
Eligibility and Criteria
- The AgriFI Kenya Challenge Fund is aiming to support projects put forward by small and medium sized agri-enterprises with business models that are integrating smallholder farmers/pastoralists into value chains.
- The agri-enterprises need to demonstrate how they are benefitting smallholder farmers/pastoralists.
- This may be through the establishment of a new activity or expansion of existing activities in specific or all nodes of the value chain.
- Must be duly incorporated in Kenya as a company or a cooperative.
- Must be compliant with all national and local laws and regulations including but not limited to tax regulation, health and safety and environmental standards.
- Must be a for-profit entity; not-for-profit organizations and government bodies are not eligible to apply as lead applicants. However, they can contribute to projects as co-applicants.
- Must be willing and able to contribute at least 50% of the project cost through a blend of cash and cash equivalents, credit or equity from own or third-party sources.
- Must provide evidence in the project proposal of current or future integration of smallholder farmers/pastoralists in existing or new value chain(s) in the project’s areas.
- The business must have at least three (3) years of uninterrupted operations in Kenya with focus on eligible actions under the AgriFI Kenya Challenge Fund programme
- Must have an average yearly turnover for the last three years in the range of EUR 200,000 to EUR 50,000,000.
- Must have an asset base of less than EUR 43,000,000 (balance sheet total).
- Must have audited accounts for the three (3) most recent years.
- The audited accounts should have been prepared in accordance with International Financial Reporting Standards by ICPAK accredited accountant.
Awards and Benefits
- The funds specific objective is to integrate 100,000 smallholder farmers/pastoralists in sustainable value chains.
- By supporting and enabling at least 50 agri-enterprises to increase their turnover (by at least 25%), this will in turn increase incomes and food security for at least 100,000 smallholders/pastoralists and create a minimum of 10,000 jobs.
- The financial support will require match funding from the agri-enterprise making the application.
- The match funding may be through own resources available to the agri-enterprise or may be sourced through external finance such as credit or external equity investment. Match funding can also come from co-applicants.
- In line with AgriFI Kenya Challenge Fund objectives, as well as recent field studies, agri-enterprises will be considered for funding based on a set of weighted criteria including its potential for positive impact on smallholder farmers.
How To Apply
To apply please click here