| African Enterprise Challenge Fund (AECF), March 2009 |
| Imani Development is in a consortium which was awarded by AGRA the AECF contract to run the program. Since its launch at the World Economic Forum last year much exposure and response for submissions to the fund has transpired. The Africa Enterprise Challenge Fund (AECF) is a US$50-100m private sector fund, backed by some of the biggest names in development finance and hosted by the Alliance for a Green Revolution in Africa (AGRA). The aim is to encourage private sector companies to compete for investment support for their new and innovative business ideas. The AECF was launched in Cape Town on 5 June 2008. The AECF is open to proposals from all countries in Africa. However, it will focus initially on 13 countries (Kenya, Uganda, Tanzania, Rwanda, Burundi, Ghana, Nigeria, Mali, Burkina Faso, South Africa, Mozambique, Malawi and Zambia) operating from three regional hubs (Nairobi, Accra and Johannesburg). Multi-country and regional projects are also eligible. Round three of the challenge fund is due to be announced any day now. There was a launch of the fund held in Dar es Salaam, Tanzania on the 19th of March 2009. Round 3 was launched on the 3 May 2009. Please visit www.aecfafrica.org for detailed information. |