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
KES 100 Billion
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.
KES 100 Billion
Funding to legally registered SME, cooperatives or farmers’ organizations
Provides loans to organisations active in financial inclusion, agriculture and renewable energy in Africa, Asia and Latin America. Oiko works with partner organisations aiming to contribute to improving the lives of low-income people and communities.
KES 10 Billion
Oiko seeks partners that:
Create jobs and income for disadvantaged groups
Are cooperatives, financial institutions or small to medium enterprises
Have women in influential positions such as in management
Are environmentally sustainable and respect animal welfare
Have suitable management in place and are (or can soon become) financially sustainable
Provides equity and (subordinated) debt to scalable enterprise in the sustainable food value chain in Asia, Africa or Latin America. (Catalysing early-stage enterprises)
KES 654,000,000
Profitability or a clear quantifiable path towards profitability
Proof of concept around the business model
Annual revenue generation of more than EUR 500,000 • Social and environmental mission embedded throughout the organisation
Experienced entrepreneur with proven ability to execute
Complete or plan for completing management team
Basic organisation structure and governance in place
Online application for Sustainable Food & Agriculture Financing
Accion Venture Lab provides capital and extensive support to innovative, scalable fintech startups that improve the reach, quality, and affordability of financial services for the underserved.
KES 654,000,000
Mobile phone–based financial services or business models built on mobile payment platforms;
Specialized credit assessment or delivery models (e.g., underwriting/credit scoring approaches, housing, education, small and medium enterprise finance, energy);
Online or social media platforms for enabling financial access (e.g., peer-to-peer, social media);
Pay-as-you-go, collaborative consumption, and other “embedded” financial service models (e.g., micro-leasing, rent-to-own, modular housing); and
New products (e.g., savings, remittances/payments, microinsurance, and credit) for people living in poverty.
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.
KES 550,000,000
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;
KES 500,000,000
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.
KES 330,000,000
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.
KES 250,000,000
Past crop production records
Projected cash flow
Suitable security requirements
Must have been in production for at least two crop cycles
GroFin considers business applications on the basis of their potential and credibility of the entrepreneur. GroFin understands SMEs and have a proven track record of helping entrepreneurs and business owners start or grow successful businesses.
KES 165,000,000
Entrepreneur Profile: The entrepreneur should have significant own investment in the business, have the ability to manage a business – from operations, sales, financial management, administration, and leadership. They must be willing to work with GroFin as a value adding financier and share management information regularly. They must have growth ambition and demonstrate integrity as well as professionalism in their dealings.
Collateral requirements: Though GroFin has no minimum requirement, they expect entrepreneurs to (partly) secure the loan if collateral is available. Quality and value of collateral does play an important part in the overall risk assessment. Personal guarantees of the entrepreneur(s) is required.
Social Impact: The business must be able to have a measurable impact in terms of the number of jobs supported and sustained, female ownership, female employment and semi-/unskilled labour. SMEs that provide indirect job opportunities (e.g. training, skills development) and/or environmental services (water, waste, energy, ecotourism) are also attractive to GroFin.
Business support: GroFin delivers business support to clients prior to the investment and during the tenor of the loan – focusing on improving business viability, sustainability and growth through identifying material business risks/opportunities across a range of generic areas as identified during the screening/due diligence stage. For this reason, entrepreneurs need to be receptive to receiving advice and implementing recommendations, normally around improving formalisation of their business.
Alterfin extends funding to microfinance institutions and to associations of smallholder farmers or companies.
KES 165,000,000
Number of years of operation > 2
Gross Loan Portfolio > USD 1,000,000
Broad outreach: minimum 1000 clients or members
Deep outreach: oriented towards poorer sections of society: rural, agricultural, women
PAR 30 days + restructured + write-off < 10%
Operational Self Sufficiency > 80% and positive trend
Leverage < = 5
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Challenge Funds
Visit Website Off Muthangari Drive / Waiyaki Way
CALL
+254 703 033 394
MAIL
P.O. Box 1996 Westlands 00606
info@aecfafrica.org, Kenya Get a call back
Agriculture Enterprise Challenge Fund
Unlocking private financing in Agricultural lending
KES 165,000,000
Innovative ideas that stimulate and/or enrich/contribute to next generation approaches in growing Africa’s Agriculture
Models that seek to scale new, in-demand publicly-bred varieties of food crops (climate-smart and nutrition focus will be considered an advantage.
Crops must go beyond hybrid maize.
Ability to leverage partnerships that increase the availability of other key inputs necessary for maximizing the benefits of improved seed varieties including farmers’ access to appropriate finance, extension services, technologies and output markets.
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.
KES 33,000,000
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.
KES 14,000,000
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.
KES 10,000,000
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
KES 10,000,000
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.
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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.
KES 10,000,000
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.
KES 5,000,000
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.
KES 5,000,000
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.
KES 5,000,000
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.
KES 5,000,000
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
KES 3,000,000
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
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
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)
Channel farm sales proceeds directly to Transnational Bank or check off arrangements must be in place.
A minimum own contribution of 30% of asset value
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
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)
An Agribusiness loan designed for crop farmers who do not have contracts with reputable off takers. The loan gives farmers flexibility of repayment cycles designed to correspond to the respective crop seasons.
KES 2,000,000
Past crop production records
Projected cash flow
Suitable security requirements
Must have been in production for at least two crop cycles
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