AECF Investing in Women in the Blue Economy in Kenya Round III: SMEs Window

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Applications are now open for Investing in Women in the Blue Economy in Kenya: SMEs Window. The Africa Enterprise Challenge Fund (AECF) is currently accepting applications for its grant opportunity to provide funding to women and young women-owned SMEs open to all counties in Kenya and implemented in the Lake Victoria and Indian Ocean regions.

The AECF SMEs Window objectives.

Enhance financial inclusivity for women and young women-owned SMEs operating in Kenya’s Blue Economy sector by increasing access to credit, enabling market linkages, supplying inputs/ products/services along the value chain, and creating employment.
Provide targeted enterprise development services, and gender capacity and development support to SMEs.
Advocate and increase awareness of the business case for investing in women in the Blue Economy in Kenya.
Provide incentives for sustainable widespread adoption of climate-smart practices in Kenya’s Blue Economy.

AECF SMEs Window Geographical focus

Women and young-women-owned SMEs that are commercially active in the respective sectors of Kenya’s blue economy. The SMEs proposed value chain activities must be in one of the focus counties in the Lake Victoria and Indian Ocean regions. Those with linkages to women and young women-owned micro-enterprises will be preferred.

Focus area and sectors

Focus counties include Mombasa, Kwale, Kilifi, Tana River, Lamu, Taita Taveta, Busia, Siaya, Kisumu, Homabay and Migori.

The sectors include:

Fisheries
Productive use of renewable energy
Waste management
Biodiversity protection (marine and lake biodiversity)
Tourism-provision of products and services to the tourism sector
Supply of inputs and services(e.g., access to finance, climate-smart technologies – aquatic blue food storage and transportation, market information etc)
Social enterprises that reduce the burden of care for women and young women (e.g., daycare child services)

AECF SMEs Window Funding

Applicants must submit a funding application justifying their funding requirements, including the funding amount and project duration. The funding should be used for a specific project in one or more target counties, such as introducing new services or products, scaling up an existing enterprise, or expanding to a new market. Funding options vary based on development stages:
- Minimum fund award of KSh 5,000,000
- Maximum fund award of KSh 50,000,000
Funding will be provided as a performance-based grant in local currency. To be eligible for funding, applicants must meet the match funding criteria outlined in the matching contribution section. Businesses should apply for funding based on their development stage and capacity to handle the proposed project’s funding. Funding disbursements will be milestone-based, with payments tied to mutually agreed-upon milestones. The first disbursement will not exceed 30% of the total awarded amount.

Selection criteria AECF SMEs Window

Each applicant will be evaluated and scored against the following criteria:

Fulfilling the eligibility criteria.
Demonstrated market demand of the business’ products and/or services amongst rural community populations especially the poor and vulnerable, with a clear vision to achieve sustainability.
Present a business proposition that clearly highlight the participation of women and young women as beneficiaries of the business activities.
Entrepreneurs’ ability – commitment and dedication of the key person providing leadership and direction on the business.
Capacity of the project to deliver and sustain social impact, particularly on communities poor and vulnerable.
Demonstrated capacity of the entreprenuer and team to implement the proposed business / project (adequate internal resources/capacity).