On April 20, 2018, the development institution Africa Enterprise Challenge Fund (AECF) Informed renewable energy stakeholders about the upcoming Renewable Energy and Adaptation to Climate Technologies in sub-Saharan Africa (REACT SSA) competition.
Africa Enterprise Challenge Fund supports businesses to innovate, and leverage investments to create sustainable incomes in rural communities in Africa. The AECF is seeking to invest in the Renewable Energy industry in Liberia through existing private sector companies.
The aim is to increase access to renewable energy products and services to the rural communities to benefit the poor, especially women.
REACT SSA is a US$ 48 million programme funded by the Swedish International Development Agency (Sida). REACT SSA will catalyze the private sector to increase supply of cleaner fuels (e.g. ethanol) and cook stoves, and to raise awareness of the dangers from indoor air pollution.
The programme will run for five years in seven countries (Ethiopia, Burkina Faso, Kenya, Liberia, Mali, Mozambique, Zimbabwe). For Liberia, AECF hopes to invest US 6 million over the 5 years, with for profit companies who have to match all grant money with a similar amount for their activities.
In the information session, the stakeholders learn about this programme and ask questions. In the next weeks a consultant will further consult with stakeholders to assess the country context and tailor the details of the competition in Liberia. In late May after a validation workshop will be hold, to then launch the competition in June or July.