The Africa Enterprise Challenge Fund (AECF)

DFID led initiative to stimulate pro-poor growth and create employment in Africa

10 July 2008

The Commission for Africa and G8 discussions highlighted that private enterprise is a prime engine of growth and development. To boost economic growth in the region, a US$100 million multi-donorAfrica Enterprise Challenge Fund was recommended. The fund offers grants on a competitive basis to private sector companies to test innovative business models resulting in the greater participation of the poor in markets – both as consumers and also as workers and producers. The AECF is expected to stimulate over US$200 million additional private sector investment in financial and agricultural markets across Africa over the next seven years. The UK’s Department for International Development (DFID) is committed to working with other donors to deliver this fund.

Launch

The AECF was successfully launched at the World Economic Forum in Cape Town on 5th June 2008 . Following the initial launch, the AECF held a launch event in Nairobi, Kenya on 10th June 2008 and in Accra, Ghana on 12th June 2008.

Further information

For more information on the AECF www.aecfafrica.org

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