Project Description
The program aims to unlock the potential of agri-SMEs to transform African food systems by catalyzing growth and financing through targeted, fit-for-purpose technical assistance delivered through three complementary platforms:
- Seed Lab (Agri-SMEs with revenues below $500,000), a cohort-based training and coaching program for early-stage agri-SMEs seeking to strengthen core business capabilities, including strategy, financial management, operations, leadership, and investment readiness.
- Growth Facility (Agri-SMEs with revenues between $500,000 and $5M), a tailored one-on-one advisory and coaching platform for more established, growth-stage agri-SMEs requiring support in areas such as business planning, operational performance, financial management, capital raising, transaction execution, gender inclusion, and climate resilience.
- ACFM Connect, an ecosystem engagement platform that promotes peer learning, investor matchmaking, knowledge sharing, and connections between agri-SMEs, finance providers, development partners, and other sector stakeholders.
More specifically, the program focuses on strengthening the demand side for capital by building a stronger pipeline of investable opportunities in African food systems. It adopts a multi-pronged approach that recognizes the different levels of maturity, technical-assistance needs, and financing ambitions of agri-SMEs, enabling support to be delivered at an appropriate level of intensity while maximizing cost-effectiveness.
Project Objectives
- Develop a robust pipeline of eligible agri-SMEs that can benefit from capacity building support.
- Deliver targeted, high quality technical assistance that ultimately contributes to increased financing to agri-SMEs.
- Empower agri-SMEs to strengthen their alignment with 2X Challenge gender criteria and to enhance their climate-resilience credentials.
- Document key learnings and monitor program impact to inform future agri-SME support initiatives.
Key Results
- 193 agri-SMEs supported — 95% African-founded, 45% women-founded.
- 87% improved their business strategies; 82% felt better positioned to raise financing.
- USD 33M mobilized by 65 businesses (34% of participants) — roughly 17x the cost of investment.
- Women-owned businesses made up 43% if those raising finance, securing USD 8M (24% of total capital raised).
- 84% recorded positive annualized revenue growth (20% median).
- c.300 full-time jobs created; 1.9M farmers reached.
- 73% strengthened gender-related initiatives; 95% improved climate adaptation practices.