Africa Enterprise Challenge Fund
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The Africa Enterprise Challenge Fund (AECF) is seeking applications for its REACT SSA Somalia programme that seeks to reduce poverty through a transformational increase in the use of renewable energy by off-grid households in the Federal Government of Somalia (FGS) and Somaliland.

This programme aims to promote private sector investment and innovation in low-cost clean energy and climate change catalysed at scale.

Objectives

The specific objectives of the fund are:

• Support transformational business models adapted to target markets in order to accelerate access to low cost, clean energy i.e. cleaner fuels, cook stoves, alternatives to grid power.
• Support commercially viable companies and markets in target countries, out of which 25 percent will be women owned and/or managed.
• Support innovative ideas that stimulate next generation approaches in the renewable energy sector in Sub-Saharan Africa.
• Capture and disseminate lessons on how increased access to clean energy can deliver positive impact on the rural poor, especially women and youth, through: i) business models, ii) improved business environment, through policy influencing and advocacy, and iii) improved business environment through crowding in, replication and copying best practice.
• Stimulate stakeholder engagements for an improved policy, legal and regulatory environment for renewable energy businesses within the target countries.

Funding Information

The AECF will award grants from US$100,000 to US$1,500,000 to selected qualifying companies under this competition. Funding will be milestone based, where disbursements are based on mutually agreed milestones that have to be delivered/achieved.

Eligibility Criteria

Applicants must meet the following requirements:

• Be private sector enterprises that are aligned with the focus areas. Joint ventures are allowed
• Must be legally registered and physically established in the FGS or Somaliland
• Must show a commitment to match AECF funding. Matching contributions are required in order to demonstrate interest and trust from the wider investor community
• Request for funding should be within the stipulated range of US$ 100,000 to US$ 1.5 million. This is a full grant. The funding must, however, be used for a specific project in the FGS or Somaliland
• Be compliant with fundamental in-country and international human rights, labor standards and environmental management laws
• Must NOT be involved in any act of terrorism or support terrorists’ activities 
• Must allow regular due diligence by AECF

Post Date - 16-Dec-2020