Good Food Innovation Fund names cohort of SMEs pushing for 'good food'
Summary
A lower threshold of $50,000 is in consideration due to the small size of the companies and their ability to properly manage the funds.Beyond financing, the fund will provide technical support on creating financial models and growth projections. It will also help companies stream line their operations and teams to get them investor ready.Africa has the highest share of people suffering from food insecurity in the world, according to the United Nations. GFIF is now collecting data to tailor its upcoming call for the next cohort, making it suitable for Burundis SMEs to get accepted and access the funds support.In some of these markets, you need to ensure your efforts are complemented, explains Mulehi. Also for them being on the ground, they have experience in terms of the type of organizations that are in the market and what sort of support that they require.The GFIF will announce the call for its next cohort in November, widening the list of countries to include Ghana and Benin. This time, the innovation in focus will be on vertically integrated solutions such as logistics, post-harvest processing, distribution and retail.Our intervention should be able to go a long way in de-risking these companies, for them to be able to access new markets which they would otherwise not be able to venture into maybe due to the perceived risk, Mulehi notes.