Two funding windows have been launched by the Growth and Employment in States – Wholesale and Retail Sector (GEMS4); a market development project in Nigeria funded by DFID/UKaid and the World Bank.
It has been identified that 7 out of every 10 baskets of perishable food produce such as tomatoes, pepper, and vegetables are lost within the value chain before it gets to the end consumer due to poor preservation techniques and storage facilities, while many women in the wholesale and retail sector which contributed (N22 trillion) to the 2014 national GDP are poor.
The GEMS4 Enterprise Challenge Fund is a £3.5 million private sector development matching grant fund set to provide financial and technical support to innovative business ideas that will either tackle the loss of perishable produce due to spoilage and wastage, or create income opportunities in the sector for women.
The funding windows were created in a bid to spur the private sector into developing and providing the needed solution. Although the fund is focused on business innovation and solutions, applying organisations and projects must meet certain key criteria to be eligible to apply for grant funding support.
The best ideas will receive grant investment of up to £150,000 with special consideration for applications from women owned or managed enterprises.
Eligible organisations are encouraged to apply for the GEMS4 Enterprise Challenge Fund through the following Funding Windows which are currently open for application:
Women Economic Empowerment -Term Sheet
Women Economic Empowerment – Application Form
Off Grid Storage Solutions – Term Sheet
Off Grid Storage Solutions – Application Form
Each funding window seeks to address a specific market problem facing small and medium enterprises, small-holder farmers/producers, poor and vulnerable men and women engaged in economic activities within the wholesale and retail sector, and its value chain.
It is intended that the impact of funding given to an individual project will be multiplied by the resulting and recurring changes to perceptions and practices in the Wholesale and Retail Sector.
Deadline for submission of applications is 24th August, 2015. Applications submitted after the deadline date will not be accepted or processed.
Please send clarification questions and enquiries to the fund manager on challengefund@coffeynigeria.com or call +23413428155
Visit
www.gems4nigeria.com/challengefund/ for information on how to participate.
Follow #GEMS4ChallengeFund online for updates.
