CALL FOR APPLICATIONS
The United States African Development Foundation (USADF), in partnership with the Stanbic Bank Zambia Limited (SBZ) invite applications for grant financing and local support from Micro, Small and Medium Enterprises (MSMEs), cooperatives, and producer groups. The aim is to help them improve their internal processes and capabilities so that they can fully meet the investment requirements of commercial investors.
Only privately-owned businesses that are registered and operating in Zambia can apply.
Award: Up to US $25,000 to each of the selected winners
Who qualifies?
MSMEs to be considered must be African-owned and managed, legally registered in Zambia, with basic functional management and financial controls for at least 2 years and banking history of no less than 12 months. Applicants must have applied for commercial investment in the past, but the application was denied due to internal processes and capability gaps. Priority shall be given to women and youth owned MSMEs.
Successful applicants must:
- Complete the standard USADF/Stanbic application form.
- Have a clearly identified and well-defined problem that can be addressed with the grant funding to make the enterprise investment ready.
- Be able to identify a path for growth after the USADF/Stanbic grant ends with a clear investment plan.
- Be able to provide proof that they have invested as much as US$10,000 in their business.
- Have a clearly defined market opportunity to grow revenues that can increase incomes.
- If selected, be willing to comply with minimum funds usage reporting requirements applicable to the grant.
- If selected, be willing to share details and evidence of why their past application for commercial investment was declined.
- Must not be an employee of government or employee of an entity majority owned by the Government.
All applications must be submitted by email to usadfsbz@usadf.gov no later than 23:59 Zambia time on Friday, October 18, 2024.