Can I apply in this round if I have a project or Business Idea that will be implemented in a country other than Zimbabwe?

No, not for this Zimbabwe Window. New Windows will be launched in 2010 with different criteria but only business ideas that are to be implemented in Zimbabwe will be funded under the AECF Zimbabwe Window.

Do I have to be based in Zimbabwe to apply for a project in this round?

No. As long as the project or business idea is going to be implemented in Zimbabwe and has a positive development impact on Zimbabwe’s rural poor you can apply for funding under the AECF Zimbabwe Window.

What is the AECF Zimbabwe Window?

The AECF Zimbabwe Window (ZW) is a special Fund of the AECF that is open to business ideas for Zimbabwe only.

Which ideas is the AECF ZW prepared to support?

AECF ZW will support business ideas in the fields of agribusiness, rural financial services and the value chain, which extends from rural areas to their local and international markets. To qualify for funding your business idea should have a positive impact on the rural poor in Zimbabwe: delivering increased employment, reduced costs, and improved productivity.

How does the Challenge Fund work?

The AECF ZW is a competition, open only to for-profit companies. The ZW Fund will run competitions for Zimbabwe starting in December 2009. The AECF ZW will provide grants and zero interest rate repayable grants up to a maximum of US$1.5m for each project (the average grant/loan size is expected to be US$750,000).

How does my business apply?

From this website, you need to complete the online application form and submit it to the AECF before the deadline - it is easy to complete and only requires an outline description of your company and your project.

How are successful proposals selected?

All proposals received will be screened and the best will be short-listed and forwarded to the AECF ZW’s independent Investment Committee. Proposals that are considered to have the greatest positive impact on the rural poor in Zimbabwe will be invited to present a detailed business plan. The final selection of business ideas will then be made.

What are my chances of winning?

The AECF ZW operates like a “social” venture capital fund – seeking and engaging with many companies to find those projects and business ideas with the greatest rate of return against our objectives. We anticipate that one in ten of the applications made to the AECF ZW will be awarded funds.

Does my company have to contribute?

Yes. Your company must provide matching funds equal to, or greater than, 40% of the total cost of the project. The AECF ZW aims to leverage its funds and thus applications where companies provide a greater % of the funds for the project from their own resources will be treated more favourably. Similarly, those projects with a greater repayable grant % will have a greater chance of winning.

How long does the approval process take?

Funding approval for successful applications will be granted within a maximum of 120 days from the closing date for initial applications.

Who funds the AECF and the AECF ZW?

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 major funders of the AECF. The Australian Government (AusAID) is the initial funder of the AECF ZW. Others may join in due course.

Who manages the AECF ZW?

The Fund Manager of the AECF ZW is KPMG Development Advisory Services, in association with Triple Line Consulting (TLC) and Acumen Africa Consulting. Y&R Brands handle the AECF ZW’s marketing and communications.

Where can I get more information on the AECF ZW?

You should have all the information you need from this website. However you may contact Acumen Africa Consulting in Harare.