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Apply Now for the Mastercard Foundation Fund for Resilience and Prosperity Agribusiness Challenge Fund and recieve grants ranging from US$ 500,000 to US$ 2,500,000.
The newly established Agribusiness Challenge Fund by The Mastercard Foundation Fund for Resilience and Prosperity is calling for proposals from African SMEs and entrepreneurs operating in the agricultural sector.
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The Fund aims to support SMEs capable of creating dignified and fulfilling employment opportunities for young people, with a primary focus on the agriculture sector. SMEs will be selected based on the innovativeness, practicality, and scalability of their businesses.
The Mastercard Foundation Fund for Resilience and Prosperity has introduced the Agribusiness Challenge Fund to solicit proposals from SMEs within the agricultural sector. These SMEs should demonstrate the capacity to generate employment opportunities for young individuals, including young women, young persons with disabilities, and refugee youth.
The Fund, which succeeds the Mastercard Foundation Fund for Rural Prosperity, will offer financial support to innovative and commercially viable agribusinesses across 20 Sub-Saharan African countries. Selected SMEs will receive grants ranging from US$ 500,000 to US$ 2,500,000 disbursed over a 3-year period. Additionally, tailored technical assistance will be provided to successful applicants.
The Agribusiness Challenge Fund targets SMEs in 20 Sub-Saharan African countries, including 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.
Mrs. Smita Sanghrajka, Engagement Partner at the Mastercard Foundation Fund for Resilience and Prosperity, emphasized the significant opportunities available for innovative SMEs in the agriculture sector in Sub-Saharan Africa. She highlighted the need for financial support and capacity building to enhance the growth and impact of agri-SMEs.
Mr. Daniel Hailu, Executive Director of Pan-African Programs at the Mastercard Foundation, reiterated the Foundation’s commitment to creating job opportunities for young people in Africa. He emphasized the importance of the Agribusiness Challenge Fund in supporting SMEs to expand and generate employment for youth.
The call for proposals for the Agribusiness Challenge Fund is currently open and will close on November 22, 2024. SMEs operating in the agriculture sector in the target countries are encouraged to apply through the Fund website.
About the Mastercard Fund for Resilience and Prosperity
The Mastercard Foundation Fund for Resilience and Prosperity is a 7-year, US$ 126 million Fund aimed at supporting SMEs across three sectors in 20 Sub-Saharan African countries. The Fund seeks to unlock enterprise growth and create dignified employment opportunities for young individuals.
About The Mastercard Foundation
The Mastercard Foundation is a registered Canadian charity focused on advancing education and financial inclusion to enable young people in Africa and Indigenous youth in Canada to access dignified employment opportunities. Established in 2006, the Foundation operates independently of Mastercard and works with visionary organizations to achieve its mission.
Deadline: Nov 22, 2024
