Ugandan Agribusiness startups eligible for up to UGX 9.5 billion in funding

The Agribusiness Challenge Fund, a prestigious initiative aimed at supporting innovative and scalable agribusinesses in Africa, has announced a call for applications from Ugandan Small and Medium-sized Enterprises (SMEs).

This exciting opportunity offers grants ranging from UGX 1.9 billion to UGX 9.5 billion, disbursed over a three-year period, to successful applicants.

The fund is specifically designed to support agribusinesses that create job opportunities for young women and men, young people with disabilities, or refugee youth. By doing so, it aims to contribute to the reduction of youth unemployment and promote agricultural development in Uganda and other focus countries.

To be eligible, Ugandan SMEs must be involved in the agricultural sector, be an existing for-profit business, and be implementing their business in at least one of the 20 focus countries. They must also provide a matching contribution of at least 30% of the total project cost, equivalent to UGX 570 million for the minimum grant amount.

The Agribusiness Challenge Fund is particularly interested in supporting businesses that work in primary production, processing and aggregation, trading and market linkages, and other parts of the agriculture value chain. This includes businesses involved in forestry, fishing, horticulture, plant breeding, agro-input supplies, and cash crops like cocoa, cotton, coffee, and tea.

Applicants must demonstrate how their business will create work opportunities for young people and align with the fund’s priorities. They must also submit a comprehensive project description, financing plan, and team structure.

Successful applicants will not only receive funding but also benefit from tailored technical assistance to help them achieve their objectives. This support will be provided over a three-year period, ensuring that businesses receive the guidance they need to succeed.

The application deadline is November 22, 2024, and interested Ugandan agribusinesses are encouraged to apply. This is a unique opportunity to access funding and technical assistance, grow their businesses, and contribute to the development of Uganda’s agricultural sector.