The United States African Development Foundation/Stanbic Kenya Foundation Grant Program 2022 is now accepting applications.
Small and medium enterprises, cooperatives, and producer groups are invited to apply for grant financing and local support from the United States African Development Foundation (USADF), in collaboration with the Stanbic Kenya Foundation (SKF), to help them address gaps in their internal systems and capabilities so that they can fully meet the investment requirements of commercial investors.
United States African Development Foundation Grant
The maximum grant amount available is $50,000 USD.
Requirements for the United States African Development Foundation Grant
Open to all Kenyan private companies that are registered.
The Applicant must show the following in order to be eligible for grant funding:
- For at least two years, it has had basic functional management and financial controls.
- For the last 12 months, it has used financial institutions for all of its commercial transactions. Bank statements may be backed up by money transfer statements.
- It had previously applied for commercial investment and satisfied some (if not all) of the criteria, but the application was declined owing to the internal system and capability limitations.
- It has paid all taxes on time to the appropriate authorities.
It is formally incorporated and operates from a set location.
It has the financial means to contribute at least half of the cost of executing grant-funded activities.
- For group-owned enterprises/cooperatives, the applicant must show that it has successfully worked together for at least two years, that it has the ability to effectively use grant funds, that the membership is in agreement on the challenges to be addressed with grant funding, and that it is committed to benefiting its community.
- It is entirely owned and controlled by Africans.
- Applications that include creative tactics and make use of new ideas and technology will be given special attention.
Women-owned businesses and applications that encourage youngsters will be given special attention.
Applicants that are chosen must:
- Have a well-defined and clearly stated issue that can be solved with grant financing to make the business investment-ready.
- With a defined investment strategy, be able to establish a route for development when the USADF/SKF award finishes.
- Must be able to contribute at least half of the total cost of resolving the identified issue.
- Have a well-defined market potential to enhance sales and thereby income.
How to Apply for the United States African Development Foundation Grant
By February 25, 2022, send your application form and financial statements, as well as bank statements for the previous two years and 12 months, and a copy of your registration document, to [email protected] After this deadline, applications will not be accepted.
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