AgriFI Kenya Challenge Fund is implemented by Self Help Africa with technical support from Imani Development Limited. The European Union initiative targets 50 Agri –enterprises in 2 windows. NB: Competition window closed on 20th November 2019
$908,300,000
Economic Drivers/Viability: Business model fit and growth prospect (i.e. profit, turnover, cash flow, efficiency and market potential) and the business capacity (i.e. governance, financial and risk management)
Social impact: Inclusion of smallholder farmers, pastoralists, job creation, influence on food security and improved nutrition, gender and youth inclusion, and inclusion of arid areas.
Environmental impact: Inclusion of climate smart approaches at farm and enterprise level
Additionality and level of leverage.
A minimum 50% match fund required –own sources or external equity investment
The ABC Fund is a blended-finance impact fund which provides catalytic financing to underserved yet profitable segments of agribusiness value chains in developing countries. The Fund is managed by Bamboo Capital Partners together with Injaro Investments as advisor and lead for direct lending in Africa. Agriterra manages the Technical Assistance Facility. The ABC Fund was initiated by the International Fund for Agricultural Development in partnership and with funding from the European Union, the African, Caribbean and Pacific Group of States, the Luxembourg Government and the Alliance for a Green Revolution in Africa.
$908,300,000
Funding to legally registered SME, cooperatives or farmers’ organizations
Leverage on our international network and expertise in structuring the right local and international trade solutions at competitive prices. These include Letters of credit, Import Loans, Post Import financing, Invoice discounting, all types of Guarantees and Bonds.
$5,903,950
+Maintain an operating account with Standard Chartered + Business to be in existence for at least 3 years + other considerations on business performance to be reviewed as part of the underwriting.
Bank statements for a period of 6 months
+Executed Board Resolution +Copy of National Identity card/ Passport for Director(s) +Copy of KRA PIN certificate +Copies of current contracts (as they case may be) +Detailed company profile +Business permit +Copy of business license + Additional documents may be requested based on required information
To facilitate acquisition of office space at competitive rates
$5,903,950
+Maintain an operating account with Standard Chartered + Business to be in existence for at least 3 years + other considerations on business performance to be reviewed as part of the facility
Bank statements for a period of 6 months
+6 months bank statements +Executed Board Resolution +Copy of National Identity card/ Passport for Director(s) +Copy of KRA PIN certificate +Copies of current contracts (as they case may be) +Detailed company profile +Business permit +Copy of business license + Additional documents may be requested based on required information
To provide expertise in (Environmental, social and governance) ESG risk and impact financing opportunities.
$5,903,950
+ Maintain an operating account with Standard Chartered + Business to be in existence for at least 3 years + other considerations on business performance to be reviewed as part of the facility + Business to be owned by a woman.
Bank statements for a period of 6 months
+Executed Board Resolution +Copy of National Identity card/ Passport for Director(s) +Copy of KRA PIN certificate +Copies of current contracts (as they case may be) +Detailed company profile +Business permit +Copy of business license + Additional documents may be requested based on required information
Working capital financing solution in domestic and foreign currency enabling business to finance operational expenses within the working capital cycle at competitive rates.
$5,903,950
+Maintain an operating account with Standard Chartered + Business to be in existence for at least 3 years + other considerations on business performance to be reviewed as part of the underwriting.
Bank statements for a period of 6 months
+Executed Board Resolution +Copy of National Identity card/ Passport for Director(s) +Copy of KRA PIN certificate +Copies of current contracts (as they case may be) +Detailed company profile +Business permit +Copy of business license + Additional documents may be requested based on required information
To finance other capital expenditure at competitive rates.
$5,903,950
+Maintain an operating account with Standard Chartered + Business to be in existence for at least 3 years + other considerations on business performance to be reviewed as part of the facility
Bank statements for a period of 6 months
+6 months bank statements +Executed Board Resolution +Copy of National Identity card/ Passport for Director(s) +Copy of KRA PIN certificate +Copies of current contracts (as they case may be) +Detailed company profile +Business permit +Copy of business license + Additional documents may be requested based on required information
Supports high-potential innovative agribusinesses, value chains, investors and scalable business models to stimulate equitable agro-based economic growth in Africa. We specialize in scouting, grooming, and scaling commercially viable Small and Growing
Agribusinesses (SGB) and agricultural innovations/ technologies in Africa and link them to capital and market.
$4,995,650
Agribusiness and Agro-processing.
Light Manufacturing - Food processing and value-addition.
Renewable Energy in particular productive uses of solar, wind, geothermal, hydropower and any other economically competitive energy sources.
ICT use -innovative mobile-based applications, software development and customization.
Grow a portfolio of strategically-aligned tech-enabled start-ups for deeper commercial partnership and/or acquisition by Safaricom whilst Transforming Lives. he fund will be made available to tech-enabled start-ups as an enabler in the verticals; Agriculture; Education; Healthcare;
$4,541,500
Kenyan presence
A Core diverse skilled team
Refined Working mobile based product/service
Commercially viable business model
Active user base
Generating revenues
Partnership with Safaricom signed or being discussed
Raising equity or quasi equity
Application process:
The Fund Manager is S&B Ventures, based in Kenya, who will source deals, perform due diligence and recommend the investments.
Provides accessible and efficient trade finance loans up to 70% of the value of export contracts that enables agricultural exporters to pay their farmers upon delivery of their produce.
$2,997,390
Financially and commercially sustainable
Size of the enterprise: minimum annual exports of USD 800,000 or the equivalent in Euros
Minimum annual turnover of USD 1,000,000 or the equivalent in Euros
Three years of track record in export
Sustainability certification (such as organic, fair trade, Utz, and Rainforest) or a conversion plan in place.
Enables purchase of commercial farm machinery and equipment such as green houses, irrigation kits, oil processing equipment, chaff cutters, tractor implements, trucks for transport produce.
$2,270,750
Past crop production records
Projected cash flow
Suitable security requirements
Must have been in production for at least two crop cycles
Accelerates the development of the clean-technology by making patient-capital commercial investments in small to medium early-stage enterprises that are focused on the clean-technology, agribusiness, and water management sectors.
$299,739
Have innovative approaches to tackling pressing social challenges including environment and sustainability, employment, and economic wellbeing.
To provide the best solutions to businesses to purchase movable assets such as commercial motor vehicles, personal vehicles and motor bikes for bodaboda.
KIE provides affordable medium to long-term finance to MSMIs for the purchase of machinery, equipment and working capital, either for start-ups, expansion, modernization or rehabilitation focusing on priority sectors identified in Vision 2030.
$127,162
It should be either be a manufacturing business or a service business.
It should be either be a manufacturing business or a service business.
It should employ at least 5 people • It should be running for at least 2 years to qualify as a working capital loan.
The applicant will be required to provide the following documents
Photographs and sketch-map of business location
Landed security to cover a minimum of 140% value of the loan requested.
Valuation report from a registered land valuer. This will be verified by KIE officers.
An original certificate of Official Search from land registry
Two credible guarantors
Current trading license
Current bank statements
Copy of PIN certificate of applicant and guarantors
The business must be in existence for at least 12 months.
The minimum facility amount is KES100,000.
The debt-service ratio is 50%.
Certificate of incorporation or certificate of compliance if not locally incorporated
Memorandum and articles of association
Company PIN certificate
National identification card (for Kenyan citizens)/Passport (for foreigners) for all directors (plus ultimate beneficiary owners if company is owned by other companies) and signatories/known agents
1 passport-size photo each for all the signatories and directors/known agents
Board resolution specifying the signing powers on the company letter head sealed with the company seal
Signed Absa account opening pack (sealed )
Residential address confirmation (name estate, road and house number) for all directors and signatories (use the attached format)
Company physical address confirmation (can be found in the new PIN certificates)
Annual returns (for companies registered over one year ago)
Applicant must have operated account satisfactorily with CBL for a minimum period of 6 months channelling their cash flow through the account
Applicant must have operated account with CBL satisfactorily for at least 2 months and have a record of satisfactory account record with another bank over a minimum period of 6 months.
Applicant must have no existing non-performing account as demonstrated in their credit bureau report, accounts statements and records with CBL.
Completed loan application form with required documents attached.
Copies of last 12 months bank statements from banks other than CBL.
Must have an account with CBL for at least 2 months.
KYC Documents : National ID, KRA Pin, Certificates of Business Registration etc.
It is a temporary facility that may be utilised by a customer and is normally regarded as being short term borrowing. Requests are usually associated with an unexpected expense that has been incurred.
$90,830
Account holders for a period of 6 months
Business must have operated for a period over 1 year
This is a short to medium term loan granted to customers to finance Expansion and the growth of their business i.e. working capital and business expansion
$90,830
KYC documents i.e. directors ID and PIN, Company PIN, MEMART and certificate of registration
Business records
Copy of security
Dully completed loan application as per account mandate and appraisal form, resolution to borrow.
Current Valuation Report from bank’s authorized valuers is required for used motor vehicles
Complete security perfection after the approval.
Detailed call report including photos and sketch maps
12 months bank statement with Maximum EMI(Equated Monthly instalment) of 30% of MACAT(monthly Average Credit Account Turnovers)
Provide documentary evidence of at least three year experience in the line of business
For limited companies Specific debenture over the asset being purchased
Applicant must have operated account satisfactorily with CBL for a minimum period of 6 months channelling their cash flow through the account.
Applicant must have operated account with CBL satisfactorily for at least 2 months and have a record of satisfactory account record with another bank over a minimum period of 6 months.
Applicant must have no existing non-performing account as demonstrated in their credit bureau report, accounts statements and records with CBL.
Minimum 3 years business experience
Completed loan application form with required documents attached.
Copies of last 6-12 months bank statements.
Must have a transactional account with CBL for at least 2 months.
KYC Documents : National ID, KRA Pin, Certificates of Business Registration etc.
Geo tagging of residence/business premises.
N.B - New clients to bank for at least 6months to access unsecured loan.
36
Women Enterprise Fund -Jiimarishe Loan/Sacco Funding
Finances women led SACCOs and SACCOs with a good credit history for on lending purposes. Through a partnership with 13 SACCOS, borrowers access individual loans at a subsidized Interest rate of 8% reducing balance per annum.
$90,830
Reputable Kenyan SACCO/Co-operative Union/Women owned institution legally registered in Kenya.
Evidence of certificate of incorporation/registration. • Valid KRA tax compliance certificate.
Valid Trading license.
Copies of National IDs and PIN Certificates for all directors/officials.
Resolution to borrow in case of a Limited Company capturing amount, purpose, and proposed security (Must be sealed).
CR12 in case of a Limited Company.
Articles and Memorandum of Association.
Contact details i.e. postal, physical and email address of the SACCO/Co-operative Union/institution's headquarter and name of contact person for purpose of seeking clarification.
Have a minimum of three years’ experience in SACCO lending operations.
Have women- friendly products, offering financial services to urban and/or rural women enterprises (provide list of products & services offered).
Must have an appropriate governance and management structure.
Their branches geographical coverage/geographical representation by counties and constituencies.
Must submit certified copies of audited accounts for at least, the last three (3) years.
Provide a summary of their loan book portfolio.
Must have a robust automated system for their loan book management.
Must demonstrate ability to pledge marketable collateral securities: bank guarantees, fixed deposits and shares listed in the stock exchange.
Have Competent Management & Personnel; Management MUST be gender responsive. The CVs of members of the management must be attached.
Have sufficient and experienced credit staff; profile and qualification must be availed.
Statement of litigation history.
Clean Credit Reference Bureau (CRB) reports of directors/officials of the SACCO.
License from SACCO Society Regulatory Authority (SASRA), where applicable.
Borrowing Powers as approved by the Commissioner of Co-operatives, where applicable.
An agriculture product tailored to supply finances to farmers who are facing collateral constraints; able to accommodate a number of agricultural activities involving cereals like wheat, rice, maize, sorghum, millet, barley, beans, coffee etc. The loan is meant to help farmers meet their post-harvest credit needs; Purchase seed and farm implements, land preparation and land leasing; The loan is available to all business persons involved in transportation and distribution of goods, specialized services like construction, sinking bore holes, car hire, farmers etc.
$45,415
Stock Insurance Cover – Stock insurance facility for stocked commodities
Warehouse receipt from the cereals board (Original)
A duly signed verification form indicating authenticity of the warehouse receipt (signed and stamped by an authorized officer of the concerned cereals board)
Signing of the verification form should be witnessed by a commissioner for oath
Existence of On-going cereals farming activity for at least three seasons
Two previous consecutive warehouse receipts
6 months Certified bank statement
ID and PIN copies
2 passport size photos (colour)
Lease agreement of the land if leased or copy of the title deed if owned
A business financing facility where businesses are able to sell their outstanding invoices to a Factor so as to get a cash advance of up to 85% of the invoice value within 24 hours.
$45,415
Any business that engages in credit transactions. As long as there is a delivery note to show that goods were delivered and an invoice which would have to be presented to Momentum Credit for factoring.
Copy of certificate of incorporation
Copy of CR12
Copy of Company PIN
Copy of Tax Compliance Certificate
Company Profile
Copy of Director’s PIN
Copy of Director’s National ID
Audited Accounts (for the past 3 years)
Bank Account Statements (for the past 12 months)
Current Debtor Ageing Report (for the client company)
Current Creditors Report (for the client company)
Current Creditor Ageing report (for each proposed factoring customer)
3 sample invoices (for each proposed customer in the past 12 months)
DTB holds financial literacy training sessions aimed at equipping SMEs with business management skills. DTB also offers affordable, relevant insurance services to cushion SMEs from market risks.
$45,415
National identity card / passport / KRA PIN certificate of borrowers - original and copy
Copy of LOF and account status in respect of loans / other facilities from other banks if any
Certified copy of memorandum and articles of association
Certified copy of the resolution authorising borrowing from DTB
Audited accounts for the last three years together with a copy of the latest management account
Schedule of debtors and creditors as per the latest management accounts – age-wise
Financial projections and plans for the business i.e. cash flow month by month for the next twelve months
Valuation report(s), if available and copy of the document evidencing ownership of the asset offered as security
Copies of bank account statements for the last twelve months
Organization chart and employees’ statistics CVs of the promoters and top management on the lines of format
Company profile
Present marketing set-up and strategies adopted/introduced to increase the sales volume
Sales target for the current year with projected profit & loss and balance sheet
List of major customers and suppliers
Volume of orders and enquiries on hand, as on date
Request should contain the need and purpose of the loan with a justification on economic return
Working capital and asset financing targeting Smallholder farmers in Tea, Dairy, Livestock and horticulture as well as traders in the agribusiness value chain.
$45,415
Farmers with at least 2 years in the financed agricultural activity.
For Tea and Dairy farmers; produce deliveries must be to marketers with MOU with the bank.
Applicant must have operated account satisfactorily with CBL for a minimum period of 6 months channelling their cash flow through the account.
Applicant must have operated account with CBL satisfactorily for at least 2 months and have a record of satisfactory account record with another bank over a minimum period of 6 months.
Applicant must have no existing non-performing account as demonstrated in their credit bureau report, accounts statements and records with CBL.
Completed loan application form with required documents attached.
Copies of last 6-12 months bank statements from banks other than CBL.
Must have a transactional account with CBL for at least 2 months.
KYC Documents : National ID, KRA Pin, Certificates of Business Registration etc.
SME Bizna loan is designed with the needs of small business people in mind to supply them with a short-term financing facility for working capital needs
$27,249
Duly constructed business financial statements for at least 12 months
Certified 12 month bank statements
Business Licences
Minimum of 3 years trading history within local markets to support loan amounts
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