Things You Should Know About Mastercard $2.5m Agribusiness Fund for Nigeria SMEs, others

Mastercard Agribusiness Fund for Resilience and Prosperity is the second phase of an eight-year program established in 2014 by the Mastercard Foundation. The first phase was the Mastercard Foundation Fund for Rural Prosperity. The Mastercard Foundation Agribusiness Fund supported 38 participants from 15 countries in Africa innovating and scaling financial products and services targeting the […]

General Apr 9, 2024 0 40 Add to Reading List

Things You Should Know About Mastercard $2.5m Agribusiness Fund for Nigeria SMEs, others

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INCREASE YOUR SALES WITH NGN1,000 TODAY!

Advertise on doacWeb

WhatsApp: 09031633831

To reach more people from NGN1,000 now!

INCREASE YOUR SALES WITH NGN1,000 TODAY!

Advertise on doacWeb

WhatsApp: 09031633831

To reach more people from NGN1,000 now!

Mastercard Agribusiness Fund for Resilience and Prosperity is the second phase of an eight-year program established in 2014 by the Mastercard Foundation. The first phase was the Mastercard Foundation Fund for Rural Prosperity.

The Mastercard Foundation Agribusiness Fund supported 38 participants from 15 countries in Africa innovating and scaling financial products and services targeting the rural population with a large focus on agriculture.

This article will provide an overview of the Mastercard Foundation Agribusiness Fund, covering its eligibility criteria, benefits, requirements, and application process.

Who is Eligible to the Mastercard Agribusiness Fund?

The Fund’s objective is to support SMEs in 20 countries in Sub-Saharan Africa. This will ensure a distribution of SME-based solutions that can sustainably create dignified and fulfilling work for young men and women, young people with disabilities and refugee youth even after the end of the program.
The countries are Nigeria, Benin, Burundi, Botswana, Cameroon, Côte d’Ivoire, Democratic Republic of Congo, Ethiopia, Ghana, Kenya, Malawi, Mozambique Nigeria, Rwanda, Senegal, Sierra Leone, South Africa, South Sudan, Tanzania, Uganda, and Zambia.

What's the benefits of Mastercard Agribusiness Fund?

It is estimated that the grant sizes will range from US$ 500,000 to US$ 2,500,000 depending on the size of SME and scaling potential.
The Fund will provide support to SMEs through four interventions:
- Challenge Fund intervention: Offering direct financial support to selected SMEs.
- Technical Assistance intervention: Adding value beyond financial support through
  technical assistance and capacity building.
- Connect intervention: Providing investor readiness support to the portfolio of selected SMEs and negotiating partnerships with potential financiers.
- Convening and Influencing intervention: Convening relevant stakeholders to
  encourage an enabling business environment that drives systematic change.

What types of businesses will be considered for the Mastercard Foundation Agribusiness Fund?

To be considered for the Mastercard Foundation Agribusiness Fund, your application has to meet the following criteria:

Only for-profit, Small and Medium-sized Enterprises can apply
Existing Mastercard Foundation partners are eligible to apply only if they are applying for a different project other than the one supported directly by the Mastercard Foundation.
SMEs can apply in all three sector challenges with different applications per challenge
that meet the specific eligibility criteria.
All challenges will seek proposals from SMEs that are innovative, commercially viable, and that will create dignified and fulfilling work opportunities for young women and men, young people with disabilities or refugee youth.
Selection will be based on applications meeting a certain threshold of the Fund selection criteria. Read more about this on the specific challenge page.