Introduction
The Mastercard Foundation Fund for Resilience and Prosperity is championing a new wave of innovation and growth in the agricultural sector through its Agribusiness Challenge Fund. Designed to support SMEs and entrepreneurs, this initiative aims to create sustainable employment opportunities for young people across Sub-Saharan Africa, particularly focusing on young women, young persons with disabilities, and refugee youth.
Agribusiness Challenge Fund: Fueling Growth and Impact
The Agribusiness Challenge Fund offers a unique opportunity for SMEs with innovative and commercially viable agribusiness models to receive support for upscaling their operations. Selected companies stand to benefit from grants ranging from US$500,000 to US$2.5 million, disbursed over a three-year period. This funding will be allocated based on the applicants' development stage, scalability, and business model, with a focus on achieving agreed-upon milestone targets.
Targeted Support for SMEs Across Sub-Saharan Africa
With a specific focus on 20 countries in Sub-Saharan Africa, the Agribusiness Challenge Fund aims to reach SMEs operating in diverse agricultural landscapes. From Kenya to Zambia, selected entrepreneurs will receive tailored support to drive growth and create meaningful employment opportunities for young people within their communities.
A Catalyst for Change
Smita Sanghrajka, Engagement Partner at the Mastercard Foundation Fund for Resilience and Prosperity, highlights the immense potential of the agriculture sector to foster innovation and generate employment opportunities. By prioritizing the inclusion of young women, young persons with disabilities, and refugee youth, the Fund seeks to create a more inclusive and equitable future for all.
Call for Applications: Seizing the Opportunity
Entrepreneurs and SMEs in the agricultural sector are encouraged to seize this opportunity by submitting their applications before the deadline on November 22. By harnessing the power of innovation and entrepreneurship, the Agribusiness Challenge Fund aims to drive sustainable growth and prosperity across Sub-Saharan Africa.
Paving the Way for Agricultural Transformation
As the agricultural sector continues to evolve, initiatives like the Agribusiness Challenge Fund play a crucial role in driving innovation and resilience. By providing targeted support to SMEs and entrepreneurs, the Mastercard Foundation Fund for Resilience and Prosperity is paving the way for agricultural transformation and economic empowerment in Sub-Saharan Africa.
