Software Deadline: June 11th 2020
The REACT Kenya Reduction Fund will present emergency grants to distributed power service firms who’re struggling to take care of entry to power to their hundreds of rural prospects due to the unprecedented disruptions and challenges from working throughout the COVID-19 pandemic.
Since 2011, AECF has been supporting Kenyan companies attain off-grid rural communities with low price, clear power services. By offering affected person capital within the types of grants and nil curiosity loans to a fastidiously chosen portfolio of firms, AECF has been capable of contribute to enhanced power entry for over 700,000 off-grid households, create hundreds of recent jobs and alternatives for younger individuals, and enhance incomes and well being situations for rural communities.
The Covid-19 pandemic threatens to reverse this invaluable progress and improve power poverty and inequality throughout Kenya. Provide chains and distribution networks have been restricted by lockdowns, curfews, and social distancing measures. Rural prospects are battling steep decreases in revenue and can’t afford even micro-payments to entry lighting for his or her properties. They danger dropping the entry to the power and data companies that they should higher maintain themselves throughout the pandemic.
The REACT Kenya Reduction Fund is a USD2 million initiative that may award emergency grants to firms working in Kenya that may exhibit that (i) they’re serving the power wants of off-grid households in poor rural and peri-urban areas and (ii) they want monetary help if they’re to safeguard jobs and important companies throughout the coronavirus pandemic.
Funded by Sweden, and managed by AECF, help shall be supplied by disbursements of emergency grants (USD50,000 –USD200,000) to cowl short-term working capital wants (3-12 months) and technical help for enterprise continuity.
The precise targets of the fund are to:
- Present reduction to off-grid power firms in order that their staff, prospects, and provide chains should not adversely affected by Covid-19 financial shocks;
- Assure power entry as an important service (lighting, cooking and productive use of energy) throughout the COVID-19 emergency;
- Present focused technical help to allow firms to develop stable methods of dealing with the COVID-19 pandemic.
- Perceive the impacts that COVID-19 has had on low-income, off-grid households.
The fund is open to present AECF portfolio firms in addition to different firms in Kenya who meet the next standards:
- Be a restricted legal responsibility firm (LLC), legally registered and bodily established in Kenya;
- Minimal of USD250,000 turnover previously 12 months, with greater than 30 workers in Kenya, and a present portfolio of at the very least 3,000 lively power prospects;
- Enterprise aim is to extend entry to scrub and reasonably priced power options for all (SDG 7);
- Not less than 70% of revenues from gross sales of power entry merchandise/companies to low-income households;
- Demonstrates clear strategy to persevering with companies and preserving worth chain employment throughout and submit COVID-19;
- Should have working capitalcovered as much as June 2020 and a ten-month funding plan displaying liquidity situations from July;
- Has a financing hole created by the impression of COVID-19, break up per price range line (and never supported by different sources of funding);
- Can justify want for reduction funding of between USD50,000 – 200,000; and
- Has capability to quantify the socio-economic impression the help can have on the corporate’s prospects and staff throughout COVID-19.
The best way to Apply
To use for help, please click on on the “Apply” button and register on our safe on-line software platform. You’ll be anticipated to finish an software type together with sections on: the monetary and socio-economic impression of Covid-19 on what you are promoting, proof of working capital from January 2020 to June 2020, month-to-month forecasts for June to Dec 2020, and proof of enterprise efficiency previous to the pandemic.
Funding shall be tied to impression targets and progress towards these targets will have to be reported upon in line with agreed schedules and necessities
Functions shall be accepted on a rolling foundation till midnight (EAT) Thurs 11 June 2020.
We strongly suggest submitting earlier than that date as funds are restricted and the window will shut as soon as all funds are allotted.
Further pointers for submitting:
- Please full all obligatory fields in an effort to full the appliance course of. Obligatory fields are marked with an asterisk
- It can save you your progress and return to the appliance any time by clicking the ‘Save Draft’ button on the backside of the shape. The shape autosaves your progress, nonetheless we suggest that you simply manually save your progress.
- Bear in mind to click on the ‘Submit’ button on the finish of the shape. AECF can solely entry your software after you might have submitted it. We are going to ship you a affirmation e-mail after getting submitted your software.
Should you search additional clarifications relating to the appliance, please e mail [email protected]
For Extra Data:
Go to the Official Webpage of the REACT Kenya Reduction Fund 2020