Global Affairs Canada (GAC) is providing grants totalling KES 1.2 billion through the Africa Enterprise Challenge Fund (AECF) to women-led businesses in Kenya.
The Global Affairs Canada fund aims to assist women and young women in running medium-sized businesses in the blue economy in counties such as Kwale, Mombasa, Kilifi, Tana River, and Lamu.
Taita Taveta, Busia, Siaya, Kisumu, Homabay, and Migori are among the other countries targeted by the fund, and applicants must submit their request for proposal by January 20th.
Applicants must have a yearly revenue range of $500,000 (KES 62 million) to $2.5 million (KES 309 million).
“The business applying for the fund should have a duty of care to ensure they are not dealing with suppliers on debarment, suspension, exclusion and anti-terrorism on its suppliers, consultants and staff,” said AECF on its website.
According to AECF, women-led businesses applying for funding must be involved in fisheries, agriculture or forestry, renewable energy, and waste management.
Women-led businesses in sectors such as marine and lake biodiversity protected areas, tourism, and aquatic blue food storage will be considered, as will those in social enterprises that reduce the burden of care for women and young women.
The Global Affairs Canada grant will provide a minimum of $50,000 (KES 6 million) and a maximum of $400,000 to qualified women-led businesses (KES 49 million).
Applicants must submit a funding application outlining their requirements for the business or idea to be funded, as well as the funding amount and project duration.
Companies applying for the Global Affairs Canada fund must show that women and young women are active participants in business decision-making and operations.
“Funding must be used for a specific project in one or more of the target counties,” said the non-profit development organisation.
The AECF supports innovative agribusiness and renewable energy enterprises to reduce rural poverty, promote resilient communities, and create jobs.
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