The MasterCard Foundation Fund for Rural Prosperity is a US$50 million challenge fund to extend financial services to people living in poverty.
The MasterCard Foundation Fund aim to expand proven ideas into new geographies or a new customer segment in rural and agricultural areas.
About The Award: The MasterCard Foundation Fund for Rural Prosperity will be looking for innovation in all applications, be they for new ideas or ideas that are ready for scaling. When considering your ideas, you should address the following questions:
- What is the potential for the proposed idea to change access to financial services for smallholder farmers in Africa?
- What is innovative about your proposed idea? For example, is it new to the financial services sector, new to the country, new to the continent? Perhaps it is even a first in the world? Is there a significant process improvement that changes the way you deliver a service or product?
- To what extent does the proposed project reach financially underserved markets?
Application Deadline: 30th November 2017
Eligible Countries: Benin, Burkina Faso, Burundi, Cameroon, Côte d’Ivoire, Djibouti, DRC, Ethiopia, The Gambia, Ghana, Kenya, Liberia, Madagascar, Malawi, Mali, Mozambique, Niger, Rwanda, Senegal, Sierra Leone, Tanzania, Togo, Uganda, Zambia
Type: Grants, Contests
Number Of Awards: We expect that at least one million smallholder farmers, their families, and/or other poor people in rural households will be able to utilize the products and services developed and/or taken to scale.
Value Of Award: Applications made to the 2017 Rolling Competition should be for support of between US$250,000 and US$2,500,000.
Eligibility: The MasterCard Foundation Fund for Rural Prosperity will only support ideas from institutions looking to deliver a financial service, product or process to smallholder farmers in an eligible African country (see list of countries above).
Examples of institutions that are eligible include:
- Non-bank financial institutions such as insurance or leasing companies;
- Agribusinesses that provide a financial service or that partner with a financial institution to deliver a financial service to their supply chain;
- Firms that use mobile or IT technology to support the delivery of financial services to rural poor people; and
- Firms that provide a non-financial service designed to facilitate increased access to financial services for financially excluded rural poor people. These firms may apply on their own as a lead applicant or may apply in partnership with a financial institution or agribusiness.
How to Apply: Click here to begin application process
Visit The Official Website For More Information
Award Providers: MasterCard Foundation