Call for Applications: Mastercard Foundation Apply to the Agribusiness Challenge Fund
Call for Applications: Mastercard Foundation Apply to the Agribusiness Challenge Fund
Apply to the Agribusiness Challenge Fund: The second part of a program from the Mastercard Foundation is called the Mastercard Foundation Fund for Resilience and Prosperity. The MasterCard Foundation Fund for Rural Prosperity, an eight-year initiative launched in 2014, was the first stage. 38 participants from 15 African nations were sponsored by that fund to innovate and scale financial products and services aimed at the rural population, with a primary focus on agriculture.
The Fund exceeded its initial aim of one million people by enabling almost 5.3 million people to gain access to financial products and services. This is a significant accomplishment.
The Mastercard Foundation Fund for Resilience and Prosperity is a new, seven-year, US$ 126 million fund that was formed in 2023 as a result of this success and the lessons learned. In 20 Sub-Saharan African nations, this fund seeks to assist small and medium-sized enterprises (SMEs) in the fields of digital economy, agriculture, and climate adaptation. The Fund’s primary goal is to encourage enterprise growth and to sustainably and expeditiously create possibilities for young men and women to engage in meaningful and respectable work.
Eligibility Requirements
Every challenge fund industry is unique. All challenges, however, will look for solutions from SMEs that are creative, financially feasible, and that will provide young men and women, young people with disabilities, or young refugees with respectable and rewarding employment prospects. Applicants will need to fulfill specific requirements for each challenge.
Applications that satisfy a specific threshold of the Fund’s selection criteria will be the basis for selection. Visit the challenge page specifically to learn more about this.
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Interventions
The Mastercard Foundation Fund for Resilience and Prosperity uses four actions to target a wide range of macro concerns and obstacles unique to SMEs:
Challenge Fund
providing direct financial assistance through a challenge fund to help SMEs overcome resource flow obstacles so they may grow and, in turn, generate and maintain job opportunities for young men and women.
Connect Fund
assisting SMEs in becoming investor-ready and forming alliances with possible lenders to guarantee development and sustainability.
Technical Assistance (TA)
bringing value above and beyond financial support by addressing the obstacles related to human capital and market access through technical assistance and capacity building.
Bringing people together and exerting influence
bringing together pertinent parties to promote a business climate that is supportive of growth through seasoned collaborators and digital channels to promote systemic change and tackle the problems impeding the development of employment prospects for young people, particularly women.
Focus Countries
The Fund’s goal is to assist SMEs throughout 20 Sub-Saharan African nations. This will guarantee the dissemination of SME-based solutions that, even when the program is over, can sustainably provide meaningful and dignified employment for young men and women, young people with disabilities, and youth refugees.
South Africa, South Sudan, Tanzania, Uganda, Zambia, Benin, Burundi, Botswana, Cameroon, Côte d’Ivoire, Democratic Republic of the Congo, Ethiopia, Ghana, Kenya, Malawi, Mozambique, Nigeria, Rwanda, Senegal, and Sierra Leone.
Termination date: November 22, 2024
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