United States African Development Foundation/Stanbic Kenya Foundation Grant Program 2022 (up to $50,000)
Deadline: February 25, 2022
Applications are open for the United States African Development Foundation/Stanbic Kenya Foundation Grant Program 2022. The United States African Development Foundation (USADF), in partnership with the Stanbic Kenya Foundation (SKF), invites applications from small and medium enterprises, cooperatives, and producer groups for grant financing and local support to help them address gaps in their internal systems and capabilities to 100% meet investment requirements by commercial investors.
- The maximum amount of grant to be awarded is US $50,000.
- Open to registered private entities operating in Kenya.
To be considered for grant funding, the Applicant must demonstrate that:
- It has had basic functional management and financial controls for a minimum of 2 years.
- It has been using financial institutions for all its business transactions for the last 12 months. Money transfer statements can be used to back up the bank statements.
- It has in the past applied for commercial investment and met some (if not most) of the financing requirements, but the application was denied due to internal systems and capabilities gaps.
- It has paid all taxes to the relevant authorities in a timely manner.
- It is legally registered and has fixed premises for business operations.
- It has the capacity to make at least a 50% contribution towards the cost of implementing activities under the grant funding.
- For group-owned enterprises/cooperatives, the applicant must demonstrate that it has successfully worked together for a minimum of two years, has the capability to effectively use grants funds, and the membership is in agreement on the challenges to be addressed with the grant funding and has a commitment to benefit its community.
- It is 100% African-owned and -managed.
- Special consideration will be given to applications that incorporate innovative strategies and make use of new approaches and technologies.
- Special consideration will also be given to women-owned enterprises and applications that promote youth.
Successful applicants must:
- Have a clearly identified and well-defined problem that can be addressed with the grant funding to make the enterprise investment-ready.
- Be able to identify a path for growth after the USADF/SKF grant ends with a clear investment plan.
- Be able to contribute at least 50% of the total cost of addressing the identified problem.
- Have a clearly defined market opportunity to grow revenues that can increase incomes.
Submit your application form and financial statements together with bank statements for the last 2 years and 12 months, respectively, and a copy of the registration document to [email protected] by February 25, 2022. Applications received after this date will not be considered.
For more information, visit USADF.