Request for Applications: USADF Stanbic Accelerator Program (Uganda)

Deadline: 8 September 2023

United States African Development Foundation (USADF), in partnership with the Stanbic Business Incubator Limited (SBIL) and Stanbic Bank Uganda (SBU), invites 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 Uganda can apply. This program is intended to benefit MSMEs on the agriculture value chains (Farm to Market). Priority shall be given to women and youth owned MSMEs.

Award Information

Up to US $40,000 to each of the selected winners.

Eligibility Criteria

To be considered for grant funding, the Applicant must demonstrate that:

They have had basic functional management and financial controls for a minimum of 2 years.
They have been using financial institutions for all their business transactions for the last 12 months. Mobile money transfer statements can be used to back up the bank statements.
They have in the past applied for commercial investment and met some (if not most) of the financing requirements, but the application was denied due to weak internal systems/ processes, capability gaps, failure to present a compelling investment request, or related reasons.
They have paid all taxes to the relevant authorities in a timely manner.
They are legally registered and have fixed premises for the business operations.
They have invested as much as US $20,000 in their business.
For group-owned enterprises/cooperatives, the applicant must demonstrate that they have successfully worked together for a minimum of two years, have the capability to effectively use grants funds, and the membership is in agreement on the challenges to be addressed with the grant funding, and have a commitment to benefit their community.
The enterprise is Africa-owned and managed.
Applicant must not be an employee of government, or employee of an entity owned by government.
Successful applicants must:
- Complete the standard USADF/SBIL 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/SBIL grant ends with a clear investment plan.
- Be able to provide proof that they have invested as much as US $20,000 in their business.
- Have a clearly defined market opportunity to grow revenues that can increase incomes.