The Malawi Innovation Challenge Fund (MICF) is a US$ 22 million competitive, transparent mechanism that provides grant finance for innovative projects proposed by the private sector in Malawi’s agricultural and manufacturing sectors. Supported by the United Nations Development Programme and UK Aid, IFAD through the PRIDE programme, and the Federal Republic of Germany through KFW, the MICF is designed to be a quick and responsive mechanism that is not overly bureaucratic and understands the needs of the private sector.
Through the Innovative Finance Window, MICF provided matching grant finance to businesses and financial sector institutions to develop innovative products, delivery channels and business models that are able to increase the volume and number of Small and Medium Enterprises (SMEs) receiving formal financing in Malawi.
Imani Development was subcontracted by Nathan & Associates to provide specialised services in the frame of the agribusiness window. Key activities conducted by IMANI include:
- Technical and financial appraisal of concept notes;
- Conducting due diligence for the potential grantees, including on-site visit;
- Develop a project logic model and a framework for monitoring the results of the granted SME project;
- Performance monitoring and reporting of grantee projects;
- Input to policy engagement on Private Sector Development through the Ministry of Industry and Trade.