By Russel A
Monday December 28, 2020
REACT stands for Results-based Financing Programme
AECF is a development competition helping support businesses in innovation, job creation, and leveraging of investment markets to create resilience and sustainable income among rural and marginalized communities.
The REACT SSA Somalia programme is funded by the Swedish International Development Cooperation Agency (Sida) to provide grants to companies dealing in clean energy across Somalia and Somaliland. The program empowers women and youth by funding renewable energy initiatives. Clean energy companies can place bids for grants from $US 100,000 to $US 1.5 million.REACT stands for Results-based Financing Programme. AECF Africa has committed up to $US 500,000 to the top clean energy companies. The programme seeks solutions that deliver low-cost, good quality, and affordable clean energy products and services to peri-urban communities and internally displaced people. The programme also invites applicants from the private sector and microfinance institutions that are commercially active in the renewable energy markets of Somalia and Somaliland.
According to its website, AECF has provided funding through a competitive process. 268 businesses have received funding across 26 countries in sub-Saharan Africa.
The grant application window remains open till 22 Jan 2021. Apply here