Deadline: 26 November 2018
Applicants are invited to apply for AgriFI Kenya Challenge Fund with an aim to contribute to improvements in the capacity of smallholder farmers/pastoralists to practise environmentally sustainable and climate-smart agriculture as a business in inclusive value chains.
The AgriFI Kenya Challenge Fund is a European Union initiative to support productive and market-integrated smallholder agriculture through the provision of financial support worth EUR 18,000,000 to agri-enterprises.
The Challenge Fund is funded by the European Union and co -funded by SlovakAid and is implemented in parallel with a planned European Investment Bank (EIB) facility provided to local banks. Self Help Africa and Imani Development Limited are the Fund Managers for the programme.
Specific Areas
- Economic Drivers/Viability: This assessment area looks at business revenue growth and market potential. In addition, the business capacity is assessed in terms of governance, financial and risk management.
- Social impact: how will the applicant include smallholder farmers and pastoralists and increase their incomes, create employment opportunities. Other social issues assess include food security and improved nutrition as well as inclusion of gender and youth in the proposed project. Creation of opportunities in Arid and Semi-Arid counties
- Environmental impact: to include climate smart approaches both at farm and SME level.
Funding Information
The first call for proposals targets to award Euro 6 million to 15 projects in total at an average of Euro 375,000 per project.
Eligibility Criteria
Additional eligibility criteria for the agri-enterprises are:
- 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 organisations 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 at least match the sum of financial support requested to fund the activities of the proposal 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 with a focus on any or a combination of the thematic areas of the AgriFI Kenya Challenge Fund programme;
- must have a yearly turnover in the range of EUR 200,000 to EUR 50,000,000;
- must have an asset base of less than EUR 43,000,000;
- must have audited accounts for the two (2) most recent years. The audited accounts should have been prepared in accordance with International Financial Reporting Standards (IFRS) by an accountant accredited by the Institute of Certified Public Accountants of Kenya (ICPAK).
How to Apply
Applicants can apply online via given website.
For more information, please visit Call for Proposals.