Monday, 28 September 2009

The Africa Enterprise Challenge Fund in support to private sector

André Dellevoet, Executive Manager of the Africa Enterprise Challenge Fund (AECF), is our special guest this week. He explains the main objectives, funding and eligibility of the Fund which aim is to catalyse private sector entrepreneurs in Africa to innovate and find profitable ways of improving market access and functioning for the poor – especially in rural areas. The donors who have already agreed to contribute to the AECF are the African Development Bank (AfDB), the Consultative Group to Assist the Poor (CGAP), the UK Department for International Development (DfID), International Fund for Agricultural Development (IFAD), and the Netherlands Ministry of Foreign Affairs, (NMFA). Until now, the Fund disposes of a start-up capital of 36 million USD. It is hoped that this will grow to 100 million USD in 3 years.