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Introduction to the Africa Enterprise Challenge Fund
AECF London Event 10th November 2011
Hugh Scott, Director, AECF
Presentation Outline
Introduction to the AECF
AECF Performance to date
AECF Agribusiness Africa Window
AECF South Sudan Window
AECF REACT Round 2
An introduction to the AECF
A challenge fund for the private sector in AfricaFunders, Governance and ManagementAims, objectives and outcomesThe AECF application and selection processAECF Competitions to dateInitial capital was US$35m and is now US$120m – and growing...3 new AECF competitions now live
Some Key Points about AECF
Companies compete for AECF moneyAECF provides minimum amount of funds to make a business idea happen that would otherwise not happenMust be commercially viable and have a measurable development impact (large numbers of poor rural people that benefit)Innovative (disruptive) business ideas that will impact the market system (replication etc)
AECF FOCUSFinding the right projects
AECF Performance
87
190
399
3053
5459
Business plans
Shortlisted for IC
Concept notes submitted
Registered companies
11 Rounds completed 5 June 2008 to
30 September 2011
Performance to date
Projects Approved
AECF – Performance
87 projects in 17 countries
US$66.80m committed (US$31.58m grant, US$35.22m repayable)
US$242.26m matching funds committed
Estimated 3 million rural people will benefit from these projects
Key Results AECF 2010400,000 households: 2m poor people
$ mn40
35
30
25
20
15
10
5
2
-2
$ mn
TOTAL AECF DISBURSED
BUSINESS PROFIT
ANNUAL BENEFIT 2010
to 3rd Parties
EMPLOYEE WAGES
NET BENEFITS
AECF Agribusiness AfricaWindow (AAW)
Agribusiness Africa Window (AAW)
A special window open to business ideas that are based on agribusiness, agribusiness value chains and financial services, Africa-wideFunded by DFID (US$17m)Open for applications from 15th October 2011 to 15th December 2011To apply: Go to www.aecfafrica.org
AECF Agribusiness AfricaWindow (AAW)
Agribusiness Africa Window (AAW)
AAW is a competition like all AECF windows, but with Africa-wide Agribusiness focus
Two stage competition: concept note and business plan
The offer: A mixture of grants and zero interest loans between US$250,000-US$1.5m per company
AECF Agribusiness AfricaWindow (AAW)
What counts as Agribusiness?
AECF takes the broadest possible definition
Farmers, planters, horticulturalists, ranchers, forestry, aquaculture, outgrower schemes
Inputs manufacturers, distributors & suppliers
Traders, merchants, exporters
Agro-processors and value adders
Service providers e.g banks, the media
AECF Agribusiness AfricaWindow (AAW)
Eligibility: what conditions apply?
Same as for all AECF competitions
Applicants must be private sector entities
Companies limited by shares, partnerships, sole traders
May be registered/domiciled anywhere but investment project must take place in Africa
Trading track record highly desirable
We do fund start-ups but they must demonstrate capacity (physical & financial)
Principle of shared risk – matching funds
Example Selection Criteria
AECF Proposal Process Stage One
Development impact of the project 35%
Strength of the business case 20%
Applicant’s technical & financial capacity to deliver 25%
Innovation 10%
Additionality Eligibility
Environmental impact / Research relevance 10%
Potential to influence systemic change Considered
AECF REACT Round 2 Window
Agribusiness – broadly definedSpecial window for the Republic of South Sudan, funded by UKAid - US$ 10m Minimum US$100,000 and max US$1.5mOpen for applications from 15th October, 2011 to 15th December 2011To apply: Go to www.aecfafrica.org
South Sudan Window (SSW)
AECF REACT Round 2 Window
A special funding window for business ideas that are based on renewable energy and adaptation to climate technologies
Funded by UK aid and DANIDA – approx. US$27m. For countries in the East African community.
2nd Round launched on 15th October 2011 closes 15th December. NOW OPEN for applications
To apply: Go to www.aecfafrica.org
AECF REACT Round 2 Window
Key strands within REACT Round 2:
– Increased access to low cost, clean energy for rural businesses and households
– Technology that help smallholder farmers adapt to climate change
– Financial services that increase access to finance for low cost clean energy and climate resilient technologies or catalyse financial solutions
How do I apply?
Log onto: www.aecfafrica.org
You can only apply by following the procedures set out on the website
Please take some time to read the information on the AECF home page, as well as on the specific microsites (AAW, SSW and REACT R2)
Please do not send paper feasibility studies etc.
AECF Contact Information
Website: www.aecfafrica.org
General Enquiries: [email protected]
AECF Director: Hugh Scott [email protected]
