Overview

Donor: U.S. African Development Foundation (USADF)
Application procedure: Full Proposal
Donor base: United States
Reference number: -
Eligible applicants: Social Business
Deadline: 23.06.2024

Financial details

Grant size: Small - up to $100,000
Minimum grant size: -
Total available budget: -
Funding type: Grants
Maximum grant size: 25.000$
Funding ratio: up to 100%

Sectors

  • Agriculture & Rural Development
  • Capacity Building
  • Economic Development
  • Food Security

Project Locations

  1. Africa

      Kenya

Description

1) Objective

The United States African Development Foundation (USADF), in collaboration with the Stanbic Kenya Foundation (SKF), is launching a call for applications aimed at providing grant financing and local support to small and medium enterprises (SMEs) in Kenya. The objective is to assist these enterprises in addressing internal systems and capability gaps to become investment-ready for commercial investors, thereby fostering economic growth and job creation.

2) Eligibility

Only registered private entities operating in Kenya are eligible to apply. SMEs must be 100% African-owned and managed, legally registered in Kenya, and have basic functional management and financial controls for at least 2 years, with a banking history of no less than 12 months. Applicants must have previously applied for commercial investment but were denied due to internal systems and capability gaps.

3) Location

Actions must take place in Kenya.

4) Budget

The maximum award available is US $25,000 per selected SME. Applicants must be willing to contribute at least 50% of the total cost of addressing the identified problem and comply with minimum funds usage, monitoring, reporting, and disclosure requirements.

5) Application

Interested SMEs must complete the standard USADF/SKF application form, clearly identify a problem that can be addressed with the grant funding to make the enterprise investment-ready, and outline a path for growth after the grant ends. All applications must be submitted electronically to usadfskf@usadf.gov by midnight on June 23rd, 2024. Shortlisted SMEs will be invited to pitch as part of the selection process.

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