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IFC and AECF Launch Second Round of Business Competition to Support Kenyan Refugee Area
Nairobi, Kenya, December 8, 2021 – IFC and the AECF today launched the second round of a global competition for private sector and social enterprise projects to support investment, development, and job creation in Kenya’s Kakuma refugee camp and hosting area.
The competition, which runs from December 8, 2021 to January 31, 2022, is open to private sector businesses or social enterprises operating in any sector. Winners will be chosen based on their bids’ potential to raise incomes, provide goods and services, create jobs, and improve living standards in both the Kakuma refugee camp and the adjacent host community, home to over 240,000 people, including 220,000 refugees.
Winning entrants will be awarded technical support and performance-based grants of between $100,000 and $750,000.
A webinar will be held on December 15, 2021 at 2:00pm EAT to provide applicants more information and to answer any questions regarding the competition. For more information on the webinar and complete competition rules and guidelines, please visit www.kkcfke.org.
The competition is part of the Kakuma Kalobeyei Challenge Fund (KKCF), a joint initiative of IFC, a member of the World Bank Group, and the AECF, an Africa-based development organization. KKCF aims to increase economic integration and self-reliance among displaced populations and their host communities.
“We have already seen innovative companies coming onboard and we look forward to seeing even more innovations that can transform lives and livelihoods of refugees and the host community in Turkana County,” said AECF’s CEO Victoria Sabula. “Through this new competition, we hope to attract more businesses, especially those involved in underrepresented sectors like small manufacturing, aquaculture, retail services, and construction.
“IFC is committed to uplifting the lives of refugees and those living in host communities by championing private sector solutions,” said Jumoke Jagun-Dokunmu, IFC Regional Director for Eastern Africa. “Through this competition, IFC aims to nurture the business opportunities in the Kakuma Kalobeyei refugee area, support job creation, and help businesses deliver quality goods and services to refugees and Kenyan citizens in the region.”
The competition is being implemented with support from Kenya’s Turkana County Government and the United Nations High Commission for Refugees (UNHCR). It follows a first round in December 2020 that awarded over $5 million in grant funding to 13 social and private sector applicants in sectors including renewable energy, financial services, healthcare, and childcare. The KKCF initiative is a $25 million, five-year project designed to support private sector investment and unlock the economic potential of refugees and those living in the surrounding host communities in Kenya’s Turkana County.
The KKCF is supported by five development agencies: The Ministry of Foreign Affairs of the Netherlands, the Swiss Agency for Development and Cooperation, the German Federal Ministry of Economic Cooperation and Development through KfW, the UK’s Foreign Commonwealth and Development Office, and the European Union.
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About KKCF
KKCF is a five-year program designed to support private sector investment and unlock the economic potential of refugees and their hosts in the Kakuma-Kalobeyei refugee-hosting area in northern Kenya. KKCF aims to attract private companies to the area and support local entrepreneurs to create jobs and improve service provision in the Kakuma area. The program targets all private sector players, from small companies and medium-sized family businesses to social enterprises and large firms. For more information, visit www.kkcfke.org
About AECF
AECF is a non-profit institution that supports early and growth stage businesses in the agribusiness and renewable energy sectors to reduce poverty, promote resilient communities and create jobs through private sector investment. AECF invests in businesses that strive to find innovative solutions to tackle development challenges across Sub-Saharan Africa. Our aim is to transform lives, one business at a time by funding early and growth stage businesses that improve the lives of rural communities and display potential for credible commercial viability and growth. For more information, visit www.aecfafrica.org
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About IFC
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit www.ifc.org.
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For AECF
Robert Magori
E-mail: press@aecfafrica.org
For IFC
Devon Maylie
E-mail: dmaylie@ifc.org
