Zambia agribusiness SME Accelerator launches second cohort to boost climate action
The Accelerator aligns to the government’s strategy of nurturing competitive MSMEs and cooperatives to create new jobs and improve livelihoods.
LUSAKA, August 5, 2024 – The second cohort of an Accelerator program for small and medium-sized enterprises [SMEs] in the agribusiness sector launched recently in Lusaka, Zambia.
This Accelerator will deliver climate-smart innovations for Zambia’s agrifood sector, promising a more sustainable future for the nation’s agriculture.
The Accelerator is managed by Accelerating Impacts of CGIAR Climate Research for Africa [AICCRA], a project backed by the World Bank to get innovations developed by CGIAR – the world’s largest publicly funded research partnership for food security – into the hands of millions of smallholder farmers across Africa.
This second cohort to the Accelerator launched in partnership with Zambia’s Ministry of Small and Medium Enterprise Development, which is dedicated to promoting the growth of micro, small, and medium enterprises [MSMEs] and cooperatives.
The Accelerator aligns to the government’s strategy of nurturing competitive MSMEs and cooperatives to create new jobs and improve livelihoods.
This climate-smart SME Accelerator operates in a similar fashion to conventional start-up or business accelerators, but it also leverages scientific excellence to improve the investment readiness of Zambian agribusiness, so they can be included in the portfolio of international impact investors and more public donors.
This second cohort of four SMEs will each receive up to US$ 30,000 to enhance the delivery of climate information services [CIS] and scale innovations for ‘climate-smart agriculture’.
They include innovations in: Sustainable agriculture water management; Integrated aquaculture-agriculture systems; Drought through climate-smart seed varieties; Mechanisation for smallholder farmers
Gender equality, social inclusion, and digital agriculture are all factors that are incorporated into the partnership with each SME.
The first cohort of the Zambia Accelerator reached 589,283 Zambian farmers with climate-smart innovations – 36 percent of them were women.
Through the technical advice and connections provided by the Accelerator, some of the SMEs secured USD 500,000 in additional commitments from Zambian and international investors – a 200 percent return on the initial financial support from AICCRA.
The second cohort of SMEs will be equipped with the skills and capacity necessary to further enhance their investment readiness and expand agribusiness commercial portfolios in Zambia.
The official launch of the second cohort of the second Accelerator cohort took place at the Radisson Blu Hotel in Lusaka.
The event brought together high-level dignitaries from the private and public sectors, non-government organisations, and research institutions to launch the cohort and explore new partnerships with Zambia’s agriculture sector.
A virtual ‘Info and Matchmaking Dialogue’ preceded the in-person launch to connect potential grant applicants with partners, and share more about the climate-smart innovations the Accelerator aims to scale.
The threat of climate change to Zambia’s crop and livestock systems is an urgent challenge for Zambian farmers and livestock keepers. The Accelerator directly responds to this by strengthening the resilience of smallholder farmers, particularly women and youth.
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