Project: Alliance for Inclusive & Nutritious Food Processing: Access to Finance Training in Zambia & Malawi
Client: TechnoServe – Zambia & Malawi
Date: February 2023 – September 2023
The Problem
Small and medium-sized enterprises (SMEs) in the food processing industry in Zambia and Malawi face challenges in accessing funding, managing their businesses sustainably, and preparing for investment opportunities.Women-owned businesses, which constituted 50% of the targeted SMEs under this project, are particularly underserved
The Solution
TechnoServe engaged Agova to design and deliver a tailored training and mentoring programme for 30 SMEs (15 in Zambia and 15 in Malawi) as part of the USAID-funded Alliance for Inclusive and Nutritious Food Processing (AINFP) project. Agova’s approach included:
- Conducting a gap analysis to assess SMEs’ needs and levels of understanding.
- Developing training materials to help SMEs:
- Improve management capacity for sustainable growth.
- Identify appropriate capital structures for various growth stages.
- Understand financing mechanisms, including debt, equity, and grants.
- Build investment preparedness with a focus on business pitch development.
- Facilitating exposure to Financial Service Providers (FSPs) and investors for valuable feedback and funding opportunities.
Results
The programme yielded the following results:
- SMEs demonstrated marked improvements in their pitch presentations.
- Engagement with FSPs and investors led to productive feedback and connections.
- Eight SMEs secured funding between $10,000 and $250,000 (3 in Malawi and 5 in Zambia).
