The Mastercard Foundation Fund for Resilience and Prosperity is currently inviting applications from SMEs and entrepreneurs in the agricultural sector. Selected companies will benefit from grants ranging between US$500,000 and US$2.5 million, distributed over three years.
Focused on fostering scalable employment opportunities, the Agribusiness Challenge Fund is particularly targeting SMEs capable of generating significant job prospects for young women and men, including those with disabilities and refugee youth across Sub-Saharan Africa.
The fund aims to support innovative and commercially viable agribusinesses in 20 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. These SMEs will receive financial backing intended to help them expand and sustain employment for the youth, with a special emphasis on young women.
Each selected SME will receive financial support based on their development stage, scalability, and business model, aligning with predetermined milestone targets over the funding period.
“The agricultural sector offers tremendous potential for innovative SMEs in Sub-Saharan Africa to expand and create meaningful and lasting employment for our youth,” remarked Smita Sanghrajka, an engagement partner at the Mastercard Foundation Fund for Resilience and Prosperity.
Entrepreneurs interested in this opportunity can submit their applications until November 22.
