What is the AECF?
The Africa Enterprise Challenge Fund (AECF) is a US$50-100m private sector fund, backed by some of the biggest names in development finance and hosted by the Alliance for a Green Revolution in Africa (AGRA). Our aim is to encourage private sector companies to compete for investment support for their new and innovative business ideas.

Where does the AECF work?
The AECF is open to proposals from all countries in Africa. Multi-country and regional projects are also eligible. We operate from three regional hubs (Nairobi, Accra and Johannesburg).

What is the relationship between AGRA and the AECF?
AGRA is an alliance jointly created in 2006 by The Rockefeller Foundation and the Bill & Melinda Gates Foundation aimed at improving agricultural productivity and small holder farmer well-being throughout sub-Saharan Africa. AGRA is registered as a non-profit entity in the United States, but operates out of Nairobi, Kenya, where it is registered as the branch of a foreign corporate entity. From Kenya, AGRA is managing programs supporting agricultural development across sub-Saharan Africa. The AECF is a special partnership initiative of AGRA that supports AGRA’s mission. The Board of AGRA provides the governance structure for the AECF and is responsible to the AECF’s donors. However, in practice, the AECF operates as an independent fund reporting to its own Investment Committee which in turn reports to a Governing Council made up of its donor funders and ultimately AGRA’s Board.

Who funds The AECF?
The Australian Government Aid Program, the Consultative Group to Assist the Poor (CGAP), the UK Department for International Development (DFID), the International Fund for Agricultural Development (IFAD), and the Netherlands Ministry of Foreign Affairs (NMFA) are the current funders of the AECF. Others may join in due course.