Agro Initiative Zimbabwe – an opportunity for agribusiness finance October 18, 2013Posted by Ishmael Chibvuri in Latest Articles!!!.
Agro Initiative Zimbabwe is a competition implemented by TechnoServe Zimbabwe which aims to support creative and sustainable ideas in agriculture through awarding capital prizes and technical assistance.
AIZ is targeted at existing medium-sized Zimbabwean businesses with creative and sustainable ideas in agriculture/agri-business which can be implemented to demonstrate inclusion of smallholder farmers via out-grower/contract farming models and have the potential to influence wider industry development.
Capital prizes will be $25 000-50,000 per business which must be used to implement the small farmer model, (e.g., as revolving inputs fund, storage for farmers, farmer equipment, farmer training, risk management etc.) and will be paid in performance-based installments. Prize winners will also receive a package of tailored technical assistance which will be coordinated by TechnoServe, and delivered both by TechnoServe and by local and international service providers depending on the needs of the business. Assistance might include: small farmer business training; structuring contracts between business and farmers; developing and implementing quality assurance mechanisms; risk management approach; further capital raising assistance to expand model. We anticipate awarding 7 prizes (a total prize pot of $350,000) and would like to award at least 1 prize in each of the following categories staples, high value crops (e.g. horticulture, coffee; tea); livestock; food processing/value-added products and other.
Businesses will be assessed on the basis of the following:
- business background
- agro innovation
- impact of innovation
- wider impact on industry
The Application Process
Application forms can be downloaded from (www.aiz.co.zw).
Step 1: Prepare a complete application pack
· A hard copy of the signed participation agreement
· Three hard copies of completed application forms clearly filled out
· Copy of company registration documents (CR 14 and CR 6) and complete list of shareholders and Directors
· Proof of payment for application fee $25. (See bank details below)
Details of AIZ bank account:
Account number 024 0059 288 502
Step 2: Submit the application
· Hand deliver or send by recorded delivery or courier to TechnoServe Harare Office, 12 Lomagundi Road, Mount Pleasant, Harare
· Application period opens at 8:00am on 17 April 2012
· Application period closes at 4:00pm on 19 June 2012
· No late applications will be accepted
AIZ Judging of Winners
An independent panel of judges comprising a number of Zimbabwean experts in the financial and agriculture sectors will be responsible for selecting winners in accordance with defined criteria.
Update calendar of events and deadlines can be found on our website: www.aiz.co.zw. It is important to keep an eye on this website as more details on participating in the competition and downloadable forms can also be found on the website