- AECF has launched a call for innovative projects across Africa.
- This initiative aims to provide financing to entrepreneurs and companies innovating sustainable technologies.
- The initiative would focus on renewable energy and green cooking projects.
The African Enterprise Challenge Fund (AECF) has launched a call for innovative projects across Africa. This initiative aims to provide financing to entrepreneurs and companies innovating sustainable technologies. The initiative will provide a total of $1.2 million and select businesses across seven African countries; Burkina Faso, Ethiopia, Kenya, Liberia, Mali, Mozambique and Zimbabwe.
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Solutions will have to improve resilience to the impacts of climate change, water supply or sustainable refrigeration on the African continent. The AEFC stated that it would focus on renewable energy and green cooking projects.
AEFC believes that its funds will enable companies to move their solutions from the prototype stage to the production stage. The AEFC, via its Renewable Energy and Climate Change Adaptation in Sub-Saharan Africa (React SSA) competition, supports rural development in sub-Saharan Africa. Selected companies receive grants and/or interest-free loans of up to $1.5 million each and technical assistance to enable them to improve electricity access.