AECF SME Investment Window Round 2 Investing in Women in Kano State

The AECF SME Investment Window Round 2 Investing in Women in Kano State is an integral part of the Investing in Women in Nigeria (IIW-Nigeria) initiative, which is supported by a funding allocation of CAN $15.7 million from Global Affairs Canada (GAC). This segment of the fund includes non-repayable grants amounting to CAN $7.75 million. Administered by the AECF, the initiative aims to bolster women’s economic empowerment by facilitating their involvement in both traditional and non-traditional agribusiness sectors.

The AECF SME Investment Window Round 2 Investing in Women in Kano State initiative aims to:

1. – Strengthen the engagement of women in the private sector as key economic contributors within essential agricultural value chains.
2. – Augment investments from both private and public sectors in women-owned Small and Medium Enterprises (SMEs) and other ventures that generate economic opportunities for women.
3. – Mitigate systemic gender disparities that obstruct women’s full economic participation in climate-smart agriculture.

Objectives of the AECF SME Investment Window Round 2 Investing in Women in Kano State fund include:

1. – Providing financial support to small and medium-sized enterprises and financial institutions that leverage innovative technologies and other creative solutions to foster gender-transforming, climate-smart economic opportunities for women, such as through job creation, market connections, and suppliers of inputs/produce/services along the value chain.
2. – Offering specialized business development technical assistance and capacity building focused on gender mainstreaming for enterprises.
3. – Promoting and raising awareness of the business rationale for investing in women in Kano.
4. – Creating incentives for innovations that will facilitate the sustainable and widespread adoption of climate-smart practices in the agricultural sector, thereby enhancing the resilience of both businesses and the women they engage with against climate-related shocks.

Geography and Focus Area – AECF SME Investment Window Round 2 Investing in Women in Kano State

 

Eligibility Criteria – AECF SME Investment Window Round 2 Investing in Women in Kano State

1. To qualify for funding, private sector enterprises must fulfill the following requirements:
2. – The entity must be a private sector organization that aligns with the designated focus areas, specifically within the geographical scope of agricultural value chains.
3. – Companies are required to show that they employ women, offer products and services that support women farmers and agro-business entrepreneurs, and/or significantly incorporate women as suppliers of raw materials and/or distributors of products and services.
4. – There should be evidence of female ownership or a management team that is predominantly composed of women, along with a business model that provides transformative advantages for women.
5. – Companies must illustrate their business models and commitments aimed at enhancing women’s representation as employees, customers, distributors, and/or suppliers, while actively addressing obstacles to women’s involvement in climate-smart agricultural value chains.
6. – Proposals should include investments in innovative, climate-smart technologies or business solutions that are gender-transformative for women throughout agricultural value chains and enhance resilience to climate-related shocks.
7. – The organization must demonstrate a commitment to match AECF funding according to the ratios specified in the matching contributions section below.
8. – Grant funding requests should fall within the specified range.
9. – Compliance with essential laws and regulations within the country, including tax compliance, is mandatory.
10. – Adherence to human rights, labor standards, and environmental management laws is required.
11. – A commitment to gender equality and the empowerment of women, particularly young women, in business operations must be demonstrated.
12. – The company must be legally registered and physically established in Nigeria, having been operational for a minimum of two (2) full accounting years at the time of application.
13. It is imperative that the entities involved do not engage in activities prohibited by the Government of Nigeria, such as terrorism or money laundering, nor should they appear on any blacklist issued by organizations like the International Finance Corporation (IFC), USAID, the United Nations (UN), the European Union (EU), or any lists established under United Nations Security Council resolutions pursuant to Chapter VII of the UN Charter. A thorough screening process will be implemented for all applicants and their associated parties, utilizing platforms such as https://sanctionssearch.ofac.treas.gov/, www.worldbank.org/debarr, World-Check, and the EU sanctions list.

Eligibility – AECF SME Investment Window Round 2 Investing in Women in Kano State

1. Eligible businesses are required to demonstrate that their products and services are both accessible and affordable, providing direct benefits to women and young women while promoting the adoption of technologies, products, or services that are suitable for both climate and gender considerations.
2. Proposed initiatives may encompass any segment of the value chain but must exhibit a commitment to tackling systemic barriers that hinder women’s effective participation in agricultural markets to qualify for funding.
3. Business models that are likely to be favored include, but are not limited to:
4. – Market aggregators that offer reliable and innovative market opportunities for women or women-owned enterprises, thereby enhancing their profitability and income.
5. – Information and media organizations that deliver market information services to women and women-owned enterprises via both traditional and digital channels.
6. – Electronic and technology services that connect value chain participants to the products and services offered by women-owned small and medium-sized enterprises (SMEs) in areas such as markets, finance, and knowledge.
7. – Processing, manufacturing, or market agent companies that create economic opportunities for women through job creation and by serving as suppliers of goods and services throughout the value chain.
8. Models for production and distribution that foster local entrepreneurship and the development of small and medium-sized enterprises (SMEs) and women’s groups within the agricultural value chains in Kano.
9. Business frameworks that encourage women to utilize and embrace enhanced environmentally sustainable and climate-resilient solutions and technologies.
10. Business frameworks that focus on climate-smart solutions and technologies at various stages, including household, production, transportation, and processing within value chains.
11. Information technology firms offering digital platforms to facilitate connections among stakeholders throughout value chains, ensuring access to inputs, markets, and financial resources.
12. Solutions that establish connections across multiple tiers of agricultural value chains.

Available Funding – AECF SME Investment Window Round 2 Investing in Women in Kano State

1. Applicants are required to submit a funding application that clearly outlines their business needs and/or the idea for which they seek financial support, specifying the desired funding amount and the duration of the project.
2. The funds must be allocated to a particular initiative, such as launching new services or products, expanding an existing business, or entering a new market. Depending on their stage of development, applicants can request funding within the following ranges:

3. Minimum funding award: CAN $65,000

4. Maximum funding award: CAN $1,300,000

5. The funding will be provided as non-repayable grants. It is important to note that funding is contingent upon meeting the criteria for matching contributions (refer to the section on Matching Contribution). Businesses should apply for funding that aligns with their developmental stage and their ability to effectively utilize the funds for the proposed project. The capacity of businesses to absorb funding will be evaluated during the application process and may be determined to be either less than or greater than the amount requested.
6. Disbursements will be made based on milestones, with payments contingent upon the successful completion of mutually agreed-upon objectives. AECF reserves the right to impose additional conditions on disbursements for individual applications prior to finalizing contracts.
7. The duration of the funding agreement is set for four years.

Application – AECF SME Investment Window Round 2 Investing in Women in Kano State

1. For more details and to apply visit the official AECF SME Investment Window Round 2 Investing in Women in Kano State website
2. Deadline is September 11, 2024