Kampala — The German Federal Ministry for Economic Cooperation and Development (BMZ) has announced a grant of USD12 million to support investment companies working in various agricultural fields in the states of eastern Sudan: Gedaref, Kassala, and Port Sudan.
The project, coordinated by Moaz Osman of the African Enterprise Challenge Fund (AECF), aims to invest in 60 crop farming and livestock farming projects, as well as renewable energy.
Osman spoke to Radio Dabanga following his talk at the Sudan SME Catalyser event in Kampala, the capital of Uganda, organised by AECF and 249Startups, where BMZ announced the grant. 50 projects will receive grants ranging from USD50,000 to USD250,000, while 10 projects will receive between USD250,000 and USD750,000, according to Osman. Applicants must be registered companies in Sudan with at least two years of investment experience in the agricultural sector.
"The project launched in April, and will continue until July 15. Companies that apply will undergo screening by economic experts. Those meeting the criteria will receive funding upon signing a financing agreement, ensuring support throughout the project's implementation", he explained to Radio Dabanga.
"AECF's partner, 249Startups, is responsible for training, guidance, and capacity building." Osman added that while the grant is non-refundable, the donor organisation and its partners will monitor and evaluate the projects during the first year of implementation. "If a project shows signs of failing, further grant instalments will be halted."
