International Finance Corporation (IFC) – a sister organization of the World Bank and member of the World Bank Group – is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world.
About FCS Africa
IFC’s Fragile and Conflict Situations (FCS) Africa program was established in 2014 to support and help grow IFC’s investment and advisory engagements in African fragile and conflict situations. The FCS Africa program was built on years of experiences of the Conflict-Affected States in Africa Initiative (CASA).
The Africa Enterprise Challenge Fund (AECF) is a non-profit development institution that supports innovative, early and growth stage businesses in the agribusiness, renewable energy and climate technology sectors. Our aim is to transform lives by funding businesses that create jobs, reduce poverty, and promote resilient communities through private sector investment.
Since 2008, AECF has invested in 271 businesses across sub-Saharan Africa. Our investee projects have benefitted 17.1 million people in rural and low-income areas, created over 12,000 jobs, and leveraged US $750 million in matching funds from the private sector. Our headquarters are in Nairobi, Kenya and regional offices in Cote D’Ivoire, Tanzania, and Zimbabwe. A new operational branch office has been established in Kakuma camp and will be opened once Covid-19 restrictions are lifted.
AECF is leading on the delivery of the rolling business competitions, drawing on our substantial experience managing challenge funds that incentivise early stage companies to scale up to reach under-served communities across Africa. We have already invested in companies operating in Turkana County and look forward to replicating this success through open these competitions.
IFC is leading on promoting the initiative to large corporates to attract further investment into the market. We are also improving the policy and regulatory environment for new and existing businesses and enterprises in Kakuma town, Kakuma camp, and Kalobeyei settlement. We are working closely with the Turkana County Government and Government of Kenya on both these components