The AECF runs competitions targeting specific economic sectors in agribusiness, renewable energy, resilience and rural financial services in specific countries in Africa, or development corridors involving several countries. Each competition typically can have more than one Funding Round for additional applications depending on funding partner support. The amount of funding that the AECF can award to a single business is between US $250,000 and US$ 1.5 million, although this amount may vary depending on the competition. Every business entering the competitions must meet specific eligibility criteria.
The competition will award innovative and transformational business models that help people to access electricity through off-grid solar household systems and give commercially viable businesses the developmental support to create sustainable Household (HS) markets. Through this we shall ensure that access to electricity is affordable to the rural and peri-urban poor; capture and disseminate ecosystem lessons on how solar household systems delivers positive social and economic impact. The countries targeted include Malawi, Zambia, Zimbabwe and Sierra Leone.
AECF will be announcing companies selected to receive funding from the REACT HS Competition 2017. Out of a total of 74 applicants, 10 companies have been selected for funding, totaling US $7.4 million. The competition is funded by UK aid from the UK government. Keep visiting our website to know which companies have been awarded funding.