Application window for the Mastercard Foundation Fund for Resilience and Prosperity Agribusiness now Open
This initiative marks the continuation of the Mastercard Foundation’s efforts in fostering resilience and prosperity in Africa. Following the success of the Mastercard Foundation Fund for Rural Prosperity, which ran from 2014 to 2023, supporting 38 participants from 15 countries in innovating and scaling financial products and services, particularly in agriculture, the Foundation launched the Mastercard Foundation Fund for Resilience and Prosperity.
The initial phase of the program exceeded expectations, enabling over 5.3 million individuals to access financial services, surpassing the target of 1 million.
Building on this success and the insights gained, the Mastercard Foundation Fund for Resilience and Prosperity was established in 2023, with a substantial commitment of US$ 126 million over seven years.
The focus
The focus of this new Fund extends beyond agriculture to encompass Small and Medium-sized Enterprises (SMEs) in the agriculture, climate adaptation, and digital economy sectors across 20 countries in Sub-Saharan Africa.
The primary objective remains consistent:
To unlock the growth potential of enterprises and facilitate the creation of dignified employment opportunities for young women and men.
Through targeted support, the Fund aims to catalyze and scale up initiatives that address key challenges facing these sectors, such as access to finance, market opportunities, and technological innovation.
By empowering SMEs, especially those led by youth, and leveraging digital solutions, the Fund seeks to foster resilience and prosperity in communities across the region.
Application process
The application process for the Agribusiness Challenge Fund presents an opportunity for eligible enterprises to access funding and technical assistance tailored to their needs.
Successful applicants will not only receive financial support but also benefit from capacity-building initiatives and access to networks and markets.With the application deadline approaching, interested entrepreneurs and enterprises are encouraged to seize this opportunity to contribute to the transformation of Africa’s agricultural and digital landscape.
By harnessing innovation and collaboration, the Mastercard Foundation Fund for Resilience and Prosperity aims to drive sustainable growth and prosperity for generations to come.
Apply now
Apply now for the Mastercard Foundation Fund for Resilience and Prosperity Agribusiness Challenge Fund, supporting SMEs across Africa. Deadline: November 22nd, 2024. This initiative aims to unlock enterprise growth and create dignified work opportunities for young women and men in agriculture, climate adaptation, and the digital economy sectors.
Eligibility
Eligible SMEs should propose innovative and commercially viable solutions. The program offers financial support, investor readiness assistance, technical expertise, and convenes stakeholders to foster an enabling business environment. Countries of focus include Benin, Burundi, Botswana, and more.
For More Information:
Visit the Official Webpage of the Mastercard Foundation Fund for Resilience and Prosperity Agribusiness Challenge Fund Apply now
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