- Grant Amount – $300,000–$500,000
- Deadline – May 11, 2025
- CLICK HERE TO APPLY
Applications are now open for the $500,000 REACT Kenya Programme Results-based Finance to target more mature companies by providing incentives for additional sales achieved beyond the pre-determined baseline.
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Purpose
- The purpose of this intervention is to contribute to the green growth of Kenya, providing low carbon and lower polluting employment opportunities, increased income, enhanced resilience, and a better quality of life.
Specific Objectives
- The intervention will aim to achieve the following specific objectives:
- To increase access to modern energy services to underserved communities.
- To increase access to quality productive use of energy (PUE) solutions for MSMEs and agricultural value chains.
- To accelerate the growth of reliable and affordable e-mobility services (mainly 2 and 3-wheelers) in Kenya.
- To transform the circular economy into a more sustainable system that emphasizes ecosystem restoration, waste recycling, reuse and value reduction, optimizing resource use, and promoting continuous resource circulation through green transition technologies).
Focus Areas
- The project shall focus on companies with the most impact and transformation anywhere in Kenya. Companies meeting eligibility and selection criteria shall be invited to bid for the funding.
- This project is technology agnostic and shall be open to companies participating from any region in Kenya.
Funding Information
- Applicants are expected to submit a funding application (concept note) presenting a project to be funded, explaining how the applicant meets the funding requirements, and stating the funding amount and the proposed project duration. The funding range will be determined by the company’s turnover and the business stage of development, as tabulated below. Companies seeking results-based financing (RBF) are eligible for milestone-based grants (MBG), as long as the MBG funds constitute no more than one-third of their overall funding.
- Company Size (Turnover, USD) : ≤ 200,000
- Business – Stage of Development : Early stage (≥ 2 years of operation)
- Funding Range (USD): 100,000 – 250,000
- Company Size (Turnover, USD): ≥200,000
- Business – Stage of Development: Growth stage (≥ 2 years of operation)
- Funding Range (USD): 300,000 – 500,000
- Maximum duration of the agreement: 4 years.
Eligibility:
- To be eligible for funding, businesses must meet the following criteria:
- Request a grant within the stipulated range.
- Legally registered as a for-profit company (e.g., corporation, LLC, etc.) or a branch/subsidiary of an international forprofit company and physically established in Kenya at the time of awarding of investment by AECF.
- Have been in operation for at least two years, with the ability to produce two years of audited accounts [these could be from the parent company if recently established as a branch/subsidiary in Kenya].
- Compliant with all governmental statutory requirements.
- Passes AECF’s KYC (know your customer), AMT/CFT (anti-money laundering and counter-financing of terrorism), PEP (politically exposed person), and IDD (integrity due diligence) screening.
- Businesses must comply with all applicable national laws relating to human rights, labor, and social and environmental management and respect internationally recognized human rights standards, as expressed in the International Bill of Human Rights and the core labor standards established through the International Labor Organization.
- Companies should demonstrate the need and demand for concessional capital.
- Companies should not participate in other programmes providing grants or RBF incentives for the proposed technologies. Where a company is involved in other RBF interventions but proposes different technologies for this project, the company will be required to disclose all the details of the other RBF programmes supporting them including specific products and locations being funded under the disclosed programmes. Failure to disclose will lead to automatic disqualification.
- Companies participating in other programmes that provide grants or RBF incentives may be eligible if they can demonstrate complementarity. In this regard, the companies shall be required to:
- Disclose the complementary programmes and the specific products supported by the disclosed programmes. Failure to disclose this will lead to automatic disqualification.
- Propose new products for this RBF facility and ensure they are not supported by or benefiting from the complementary programmes disclosed.
- Commit that the proposed products for this RBF initiative will be exclusive.
- If complementarity cannot be demonstrated by the shortlisted companies, they will be automatically disqualified.
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