The AECF was launched at the World Economic Forum Africa in 2007 to respond to the need for an Africa based fund that would support African business, particularly in the areas of finance and agriculture. It was begun with start-up capital from the British and Dutch Governments, the Consultative Group to Assist the Poor (CGAP) and the International Fund for Agricultural Development (IFAD).
The AECF launched the first competition in 2008 and since then has grown to be one of the largest challenge funds in Africa. During the past 8 years, the AECF has opened 8 funding windows which include several rounds of funding. In total the AECF has conducted 21 competitions. The AECF has received over 8,000 applications and has approved funding to over 250 business projects.
To get a better idea of the AECF journey use the time scale under our history page to navigate to key milestones.