The African Enterprise Challenge Fund (AECF), which supports the development of rural communities in sub-Saharan Africa, has launched the Renewable Energy and Climate Change Adaptation in Sub-Saharan Africa (React SSA) competition. The winners will receive funding to provide rural households with independent solar systems.
Africa Enterprise Challenge Fund (AECF) launched the Renewable Energy and Adaptation to Climate Change in Sub-Saharan Africa (React SSA) competition on September 27 2018 in Bamako. Companies interested in this funding opportunity have until November 22, 2018 to register on www.aecfafrica.org.
The call for projects is open to companies offering clean energy access and cooking solutions in rural areas. “Our experience in Africa and the financing we provide in Mali through React SSA can encourage Malian companies to replicate models that have worked in other regions, and to convince companies operating in some advanced markets to replicate their models in a country like Mali,” said Steve Tawia, AECF’s Portfolio and Investment Director. The selected companies will receive grants and/or interest-free loans of between $100,000 and $1.5 million and technical assistance as needed.
ECF a competitive fund worth $250 million, supported by Sweden, in 7 sub-Saharan African countries
Mali, a West African country, has only 38% electricity coverage, which drops to 20% in rural areas. It will make significant progress thanks to the benefits of the React SSA program. The latter will contribute to economic development, job creation and improved livelihoods in areas cut off from the national electricity grid.
The AECF is an Africa-based challenge fund that aims to reduce poverty by supporting private sector companies that have a positive impact on rural communities in sub-Saharan Africa. It is funded by the Swedish International Development Agency (SIDA) to the tune of $250 million. It is a five-year programme, which in addition to Kenya, will be implemented in 6 other African countries, Burkina Faso, Ethiopia, Liberia, Mali, Mozambique and Zimbabwe. Over the past eight years, the AECF has transformed the livelihoods of more than 6.6 million people and contributed to the production of more than 20 megawatts of clean energy.