The Africa Enterprise Challenge Fund (AECF)

DFID-led initiative to stimulate pro-poor growth and create employment in Africa

10 July 2008

A $100 million multi-donor fund was recently launched to boost economic growth in Africa. The Africa Enterprise Challenge Fund (AECF) came out of discussions between the Commission for Africa and the G8 in which the role of private enterprise in growth and development was a major theme.

Offering grants on a competitive basis to private sector companies to test innovative business models, the fund should result in greater participation by the poor in markets, both as consumers and as workers and producers. Over the next seven years, the AECF is expected to stimulate over US$200 million additional private sector investment in financial and agricultural markets across Africa. DFID is committed to working with other donors to deliver this fund.

Launch

The AECF was successfully launched at the World Economic Forum in Cape Town on 5th June 2008 . Following the initial launch, the AECF held a launch event in Nairobi, Kenya on 10th June 2008 and in Accra, Ghana on 12th June 2008.

Further information

For more information on the AECF www.aecfafrica.org