The Africa Enterprise Challenge Fund (AECF) has launched the Cooperative Window Competition aimed at transforming the role of women in the agricultural value chain in Kano.
As part of the program, AECF presented a N1 billion cheque to Sagad Farms Limited and a N500 million cheque to Royal Blue Contractors Limited, two investors who participated in the first phase of the SME Window Competition.
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The AECF Investing in Women in Nigeria (IIW) initiative is funded by the Canadian government through Global Affairs Canada.
Speaking at the launch in Kano, Head of Programmes at AECF, Ms. Susan Situma, revealed that $1.1 million Canadian Dollars, equivalent to N1.3 billion, has been earmarked for 40 cooperatives to access essential resources and agricultural inputs.
“Each cooperative will receive N30.7 million, equivalent to 25,000 Canadian Dollars,” Situma said. She added that the first phase of the SME Window Competition, launched earlier in 2024, aims to support 17 small and medium-sized enterprises (SMEs) operating in rural and marginalized communities across Kano.
“Our goal is to create an enabling environment and reduce the systemic gender inequalities that women entrepreneurs and farmers face,” she explained. Situma also highlighted AECF’s target to invest 15.7 million Canadian Dollars in efforts to improve the lives of 51,000 people.
AECF Senior Programme Officer, Fuad Farouk, stated that the organization is seeking 90 cooperatives through business membership organizations (BMOs) and 25 ministries, departments, and agencies (MDAs) to identify potential contestants.
“The competition follows a demand-driven approach, and in the end, only 40 cooperatives will be selected,” Farouk said. “Our aim is to empower women by improving their access to finance, mechanization, and marketing opportunities.”
The Managing Director of the Kano State Agricultural and Rural Development Authority (KNARDA), Dr. Faruk Kurawa, commended the initiative, describing it as timely. He noted that the program would help address the challenges faced by small-scale agricultural businesses.
“This intervention will boost production, increase cooperative incomes, strengthen the national economy, and reduce the country’s reliance on imports,” Kurawa said.
