African farmers face many challenges, from limited access to financing to technological barriers. However, several funding opportunities are available to support agricultural growth and development. Here are 7 notable funding opportunities including their details, websites, and contact information.
1. Financing for Agricultural Small-and-Medium Enterprises in Africa (FASA)
At the 2023 U.N. General Assembly, USAID and Norway announced the Financing for Agricultural Small-and-Medium Enterprises in Africa (FASA) Fund. This initiative aims to spur investment in Africa’s agricultural sector by reducing investment risk and catalyzing commercial financing.
- Details: $35 million initial commitment from both USAID and Norway, aiming for a total of $200 million through additional donor contributions.
- Objective: Support 500 agri-SMEs and 1.5 million smallholder farmers, benefiting nearly 7.5 million people and creating nearly 60,000 private sector jobs.
Contact:
- Website: USAID
2. Agriculture Fast Track Fund (AFT)
The Agriculture Fast Track Fund (AFT) supports financially sound, environmentally sustainable, and socially beneficial food security projects. It provides grants for project development costs like feasibility studies, market research, financial modeling, and environmental and social impact studies.
- Objective: Increase the number of investment-ready agriculture infrastructure projects and public-private partnerships.
- Funding: Defrays front-end project development costs and risks.
Contact:
- Website: Agriculture Fast Track Fund
3. LAFCo
LAFCo lends to agricultural SMEs that work directly with smallholder farmers and have constrained access to working capital. LAFCo aims to support businesses that advance local and regional food security, focusing on staple food crop value chains.
- Objective: Serve the day-to-day working capital needs of agricultural businesses in sub-Saharan Africa.
- Funding: Provides loans to agricultural SMEs.
Contact:
- Website: LAFCo
4. John Deere Foundation
The John Deere Foundation has granted $2.5 million to Opportunity International’s “Banking on Africa” initiative. This initiative provides savings-based microfinance services for farmers and entrepreneurs in Ghana, Malawi, Mozambique, Rwanda, and Uganda.
- Objective: Create 450 new access sites, provide agricultural loans to over 500,000 new clients, and open 1.4 million interest-bearing savings accounts.
- Impact: Empower small farmers and entrepreneurs with financial freedom to grow their businesses.
Contact:
- Website: John Deere Foundation
5. Agri-Business Capital (ABC) Fund
The ABC Fund supports smallholder farmers and agribusiness SMEs in developing countries. The Fund aims to transform rural areas into prosperous ecosystems, creating sustainable jobs and economic opportunities, especially for women and youth.
- Objective: Improve livelihoods of over 4 million people through sustainable agriculture initiatives and climate change adaptation solutions.
- Funding: Focuses on projects generating jobs and supporting sustainable agriculture.
Contact:
- Website: ABC Fund
6. Africa Agriculture and Trade Investment Fund (AATIF)
AATIF is a public-private partnership that aims to uplift Africa’s agricultural potential. It focuses on improving food security and providing employment and income to farmers, entrepreneurs, and laborers by investing in efficient local value chains.
- Objective: Enhance food security and economic growth through responsible investments.
- Funding: Supports local value chains with patient and responsible investment.
Contact:
- Website: AATIF
7. United States African Development Foundation (USADF)
USADF provides grant capital to support agricultural cooperatives and agribusinesses. In 2023, USADF awarded 114 grants focused on agriculture, totaling $17.52 million.
- Objective: Improve productivity, increase incomes for smallholder farmers, and enhance food security for over 2.3 million people.
- Funding: Grants to support the self-sufficiency of agricultural cooperatives and agribusinesses.
Contact:
- Website: USADF
These funding opportunities provide crucial support for African farmers, enabling them to overcome financial barriers and achieve sustainable agricultural growth. For more information, visit the respective websites and contact the organizations directly.
