South Africa

The Agribusiness Challenge Fund is a rolling call for proposals open from 18 March 2024 to 22 November 2024, with three application harvest periods in between. The challenge will is open to SME applications from any country as long as the projects are being implemented in at least one of the 20 focus countries the Fund is targeting and meets the eligibility criteria.

Support from the Mastercard Foundation's Fund for Rural Prosperity (FRP) will include grants ranging from US$ 500,000 to US$ 2,500,000, disbursed over a 3-year period, based on the applicant's development stage, scalability, and business model, in accordance with agreed periodic milestone targets. Funding structure will be determined on a case-by-case basis after evaluating proposals and organizations. Additional support to successful applicants will include tailored technical assistance in alignment with FRP objectives over the 3-year period.


To be eligible to apply, an SME must:

  • Be involved in the sector of focus i.e., agriculture.
  • Be an existing for-profit Small or Medium-sized Enterprise.
  • Be implementing business in at least one of the 20 focus countries in Africa.
  • Be requesting for grant funding ranging from US$ 500,000 to US$ 2,500,000, disbursed over a 3-year period, based on applicants’ development stage, scalability, and business model. Additional tailored technical assistance will be provided to successful applicants. 
  • Be providing matching contribution of at least 30% of the total project cost.
  • Have innovative, practical and scalable businesses that aim to create work opportunities for young women and men, young people with disabilities or refugee youth.
  • Adhere to fundamental human rights, labour standards, and environmental management laws, both nationally and internationally, including seed laws/policy.
  • Refrain from any involvement in acts of terrorism or support for terrorist activities.

Click here for more info on applications.

Closing date
Agriculture, forestry and fishing
​Electricity, gas, steam and air conditioning supply
Water supply; sewerage, waste management and remediation activities
Professional, scientific and technical activities
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