session 3 i hugh scott
DESCRIPTION
TRANSCRIPT
Introduction to the
Africa Enterprise Challenge Fund
EMRC Kampala, Uganda 5th October 2010
Hugh Scott, Director, AECF
Presentation Outline
Introduction to the AECF
AECF Performance to date
AECF Research into Business Window
AECF REACT East Africa Window
AECF Tanzania Agribusiness Window
AECF Zimbabwe Window
AECF The future
An introduction to the AECF
A challenge fund for the private sector
Funders, Governance and Management
Aims, objectives and outcomes
The AECF application and selection process
AECF Competitions to date & future
Initial capital was US$35m and is now US$89m – and growing...
AECF FOCUS
Finding the right projects
SCALE
(SOCIAL) IMPACT
VIABILITY
AECF Performance
40
105
232
1570
3124
Business plans
Shortlisted for IC
Concept notes submitted
Registered companies
7 Rounds completed
5 June 2008 to
30 September 2010
Performance to date
Awarded grants
AECF – Performance
40 projects in 16 countries
US$37m committed (US$13m grant, US$14m repayable)
US$50m matching funds committed (US$77m into projects)
Estimated 2.5 million rural people will benefit from these
projects
AECF Research into
Business (RIB)
Commercializing agricultural research and technology
A special window open only to business ideas that are based on agricultural research, Africa-wide
Funded initially by DFID (US$20m)
Virtual Market Place
1st Round winners announced 5 November, 2010
Round 2 opens 15th October 2010
AECF REACT Window
A special funding window for business ideas that are based on renewable energy and adaptation to climate technologies
1st Round for East Africa (Burundi, Kenya, Rwanda, Tanzania, Uganda): Launch 1st November, 2010
Funded by UK aid (DFID) - US$15m
Key strands within REACT:– Increased access to low cost, clean energy for rural businesses and
households
– Products and services 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
REACT: Project Examples
Renewable Energy Adaptation to Climate
Technologies
Financial Services
•Micro solar PV solutions
for households &
businesses that have little
hope of grid access
•Power generation from
agricultural waste, with
excess supplied to local
households
•Drought resistant seeds
•Early weather warning
systems that increase
resilience and reduce
vulnerability
•Small scale irrigation
systems
•Increased access to
finance for renewable
energy & adaptation to
climate technologies eg
through credit guarantees
•Weather insurance for
smallholder farmers
Lighting Africa ILRIILRI
Tanzania Agribusiness Window (TZAW)
Special window for Tanzania agribusiness, funded UKAid (DFID).
US$7.5m for 2 rounds
Minimum US$100,000 and max US$1m
Round 1 opens 1 November, 2010
Closes 31st January 2011
Launch events: Dar, Arusha, Mwanza & Mbeya
Special window for Zimbabwe agribusiness and rural financial services, funded AusAID
Round 1: 570 registrations, 375 Concept Notes, 42 shortlisted
US$6m awarded to 10 winners
Good synergy and business to business; 6 input & distribution projects + complementary services
Round 2: Opens 15/10/10, closes 30/11/10
Soros Economic Development Fund providing
additional debt/equity finance
AECF Contact Information
Website: www.aecfafrica.org
General Enquiries: [email protected]
AECF Director: Hugh Scott