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Press Release | Zambia agribusiness SME Accelerator launches second cohort to boost climate action
LUSAKA, ZAMBIA 21 June 2024 - The second cohort of an Accelerator program for small and medium-sized enterprises (SMEs) in the agribusiness sector launched this week 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 USD 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 call for applications to the second Accelerator cohort is live on VC4A - Africa's largest digital platform for entrepreneurship and investments.
To apply, go to: vc4a.com/cgiar/aiccra-zambia-cohort-2
The deadline is 19 July 2024 at 16:00 (Central African Time). The winning SMEs will be announced in August 2024.
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 on Wednesday 19 June 2024.
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.
Evans Chinembiri, the team leader for AICCRA in Zambia and Senior Project Manager (Agribusiness and Scaling) at the International Water Management Institute (IWMI), said:
“This Accelerator is a testament to the power of collaboration and innovation in Zambia’s agricultural sector. It’s a commitment to the future, ensuring that every investment made today in climate-smart solutions multiplies opportunities for our farmers tomorrow. The services and innovations that will be delivered by the SMEs in this cohort of the Accelerator will help Zambian farmers and communities safeguard their livelihoods in the face of climate change.”
ENDS
Notes for Editors
CGIAR is a global research partnership for a food-secure future dedicated to transforming food, land, and water systems in a climate crisis.
Accelerating Impacts of CGIAR Climate Research for African (AICCRA) is led by the Alliance Bioversity International - CIAT, a CGIAR research center, and is supported by a grant from the International Development Association (IDA) of the World Bank Group, which is the part of the bank that assists the world’s poorest countries. This IDA grant enhances research and capacity-building activities led by CGIAR and national or regional African partners in IDA eligible African countries. (Explore participating CGIAR research centers and project partners)
In Zambia, the AICCRA program is led by the International Water Management Institute (IWMI), a CGIAR Research Center, and leverages a strong track record in agribusiness acceleration. IWMI’s agribusiness accelerators all reflect a strategic and interconnected effort to transform food systems by strengthening agribusiness ecosystems in different contexts. These include the:
• The Peace and Stability Accelerator under the CGIAR Fragility, Conflict and Migration (FCM) initiative
• The CGIAR Food Systems Accelerator under the Ukamu Ustawi initiative
• WE4F Innovation Hub
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For more information, please contact:
Winnie Kasoma-Pele
Email: iwmi-aiccrazambia@cgiar.org