EXPRESSION OF INTEREST: Kenyan Growth Businesses
Bridging Africa-Europe SDG Investment Summit
Call for Expression of Interest from Kenyan Growth Businesses
1. BACKGROUND
The SDG Partnership Platform (SDGPP) is a UN Kenya flagship initiative which convenes and connects leadership from Government, UN family, development partners, private sector, philanthropy, civil society, and academia to catalyse SDG partnerships, financing and investments in alignment with Government’s priority development agenda.
SDGPP builds partnerships with other UN organisations, as well as private and public sector staleholders, to achieve greater impact in development; specifically, by unlocking additional resources and strengthening financing mechanisms and systems contributing to transformation pathways, focusing on such development themes as green economy, digitalisation, urbanisation, inclusive economies, gender equality and women’s economic empowerment.
2. DEVELOPMENT CHALLENGES AND REQUIRED INTERVENTIONS
This exciting initiative driving this Expression of Interest (EOI) is the milestone Bridging Africa-Europe SDG Investment Summit, a collaborative effort aimed at fostering sustainable investments and financing opportunities aligned with the Sustainable Development Goals (SDGs). The objectives and activities of the Summit are directly linked to the EOI, which serves as a mechanism to identify and prioritise investment opportunities that contribute to sustainable development in Kenya.
One of the specific challenges that the Summit aims to address is the limited access to appropriate finance and resources for key sectors crucial for sustainable development in Kenya. Data indicates significant disparities in access to financial services and investment opportunities, particularly among marginalised communities, MSMEs, and smallholder farmers. These challenges hinder the achievement of SDGs related to poverty reduction, gender equality, and economic empowerment.
The development challenge at hand requires strategic interventions to mobilise a greater diversity and quality of capital and resources for impactful investments in key sectors. Market assessments highlight both opportunities and gaps in various sectors, emphasising the need for collaborative efforts to bridge the investment gap and unlock the potential for sustainable development. The EOI is regional in scope, focusing on Kenya as a viable region for impactful investments aligned with the SDGs.
The thematic scope of the EOI encompasses key areas where interventions are needed to drive sustainable developments including:
- Food Systems & Agricultural Value Chains (SDG 2, SDG 12, SDG 13, SDG 15)
Investments aimed at enhancing food security, promoting sustainable agriculture, and reducing food waste, with a focus on supporting smallholder farmers and improving agricultural value chains.
- Health Sector (SDG 3)
Investments in innovative medical technology and digital healthcare solutions to improve access to quality healthcare services, particularly in underserved areas and at primary levels.
- Environment: Water, Energy and related infrastructure (SDG 6, SDG 7, SDG 11, SDG 13, SDG 14)
Investments focused on improving access to clean water and sanitation, promoting renewable energy sources, enhancing energy efficiency, and addressing climate change impacts.
- Technology & Digitisation (SDG 4, SDG 9, SDG 8, SDG 17)
Investments driving innovation, digital inclusion, and sustainable industrialisation, with a focus on leveraging technology to address social and economic challenges.
The EOI process aims to identify high-impact investment opportunities between USD $2 million to $ 50 million (Prospects in growth phase) that align with national priorities and SDG targets, fostering collaboration and partnerships between European and African stakeholders to accelerate progress towards sustainable development in Kenya.
3. SCOPE OF WORK
The scope of this initiative revolves around identifying and curating high-impact investment opportunities in Kenya across various sectors listed above Eligible organisations, particularly in the growth phase, are invited to submit Expressions of Interest (EOIs) detailing their capital needs and anticipated development impacts. The initiative focuses on assessing potential investment opportunities based on predefined criteria, including business model scalability, market development contribution, financial sustainability, and social impacts.
The initiative aims to design measures and strategies that ensure women and men can benefit equally from these interventions and planned investments.
Expected Outcomes
- Identification of High-Impact Investment Opportunities- Curate a comprehensive list of SDG-aligned investment opportunities in Kenya across various sectors described above.
- Facilitate Investor-Entrepreneur Connections: Directly connect eligible applicants with potential investors interested in SDG-aligned projects in Kenya, fostering new investments.
- Promote Economic Empowerment: Support growth stage businesses with financially sustainable business models, contributing to market development and fostering innovation.
- Enhance Social Impact- Drive economic growth, social development, and environmental sustainability in Kenya by leveraging investments aligned with SDGs.
- Gender Inclusivity and Equity- Ensure equal opportunities for women and men to participate in and benefit from investment opportunities, promoting gender equality and social inclusion.
The initiative will analyse risks from a gender-inclusive perspective to understand their differential impacts on women and men. Risk management strategies will be implemented to mitigate potential negative effects on marginalised groups and promote gender equality in project outcomes.
The initiative aims to showcase Kenya as a viable destination for impactful investments from Europe and beyond, driving economic growth and social development while advancing gender equality and sustainability.
3.1 Areas of intervention
For this request for applications, we invite applications from registered entities that can offer innovative and scalable solutions addressing one or more of the following challenges through three areas of intervention.
Challenges/ Problem Statement and Objectives for solution
1. Food Systems & Agricultural Value Chains (SDG 2, SDG 12, SDG 13, SDG 15)
Challenges: Limited access to affordable essential services, scalability issues, and relevance to low- and middle-income households and SMEs. Stakeholders face obstacles in market development and demonstrating project viability and sustainability.
Objectives: Facilitate investments that enhance food security, promote sustainable agriculture, reduce food waste, and preserve biodiversity. Create an enabling environment through the creation of financing mechanisms tailored to support the growth of businesses in the agricultural value chain. Encourage innovative business models with demonstrable social impact, scalability, and financial sustainability.
2. Health Sector (SDG 3)
Challenges: Limited access to growth stage financing innovative medical technology and digital healthcare solutions. Health tech companies struggle to reach underserved populations effectively
Objectives: Invest in health tech growth companies focusing on telemedicine, health data analytics, wearable devices, etc., to improve healthcare access and patient outcomes including at primary care levels. Foster innovation in the health sector and contribute to achieving SDG 3 (Good Health and Well-being) by leveraging technology for scale. Create an enabling environment through the establishment of financing mechanisms tailored to support the growth of health tech companies and facilitate access to innovative medical solutions for underserved populations.
3. Environment: Water, Energy and Infrastructure (SDG 6, SDG 7, SDG 11, SDG 13, SDG 14)
Challenges: Insufficient access to clean water and sanitation, inadequate renewable energy sources, and climate change impacts. Stakeholders face difficulties in promoting energy efficiency and addressing environmental conservation.
Objectives: Support initiatives improving access to clean water and sanitation, promoting renewable energy, enhancing energy efficiency, and addressing climate change impacts. Invest in water treatment, renewable energy infrastructure, and conservation efforts to contribute to SDGs 6, 7, 11, 13, and 14. Create an enabling environment through the establishment of financing mechanisms tailored to support environmental and energy projects, fostering innovation, and promoting sustainability.
4. Technology & Digitisation (SDG 4, SDG 9, SDG 8, SDG 17)
Challenges: Limited innovation, inadequate access to education and healthcare through technology, and insufficient sustainable industrialisation. Stakeholders encounter difficulties in leveraging data analytics for social impact and global partnerships for sustainable development.
Objectives: Drive innovation, improve access to education and healthcare through technology, promote sustainable industrialisation, and facilitate global partnerships for sustainable development. Invest in digital education platforms, healthcare technology startups, clean technology companies, and initiatives leveraging data analytics for social impact. Create an enabling environment through the establishment of financing mechanisms tailored to support technology and digitisation projects, fostering innovation, and promoting sustainable development.
The examples of solutions in the identified areas of intervention are not exhaustive. The applicants are free to expand the list within the described sectors as they deem relevant and essential. The team at the SDGPP is open to hear what potential applicants have in mind outside these examples as long as the scale, commercial viability and impact objectives are aligned with those of the project.
3.2 Expected results
Selected entities will be required to agree on a completed list of financial and impact indicators for monitoring of the outcomes. The impact indicators will be finalised based on the nature of the product or service of the company and be tracked on a continuous basis (quarterly).
In addition to these indicators, qualitative monitoring information is expected for learning and insights.
4. ELIGIBILITY FOR APPLICATION AND EVALUATION CRITERIA
Only applications that meet the eligibility requirements and minimum criteria for the submission will be scored
4.1 Eligibility requirements
Entity registration
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Entities must be duly registered legal entities, with a minimum of one year of operations in Kenya or East Africa. Types of eligible entities include:
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- Growth Phase Enterprises in the sectors of Food Systems (including Agriculture value chains), Health, Environment (including Water, Energy and relevant infrastructure ), and Technology (including digitization).
- Entities can be for-profit private, or public-private partnership organisations.
- This is a National call for Kenya.
- Entity shall have fulfilled all the obligations relating to the payment of social security contributions or obligations relating to the payment of taxes in accordance with legal provisions.
- Business registration certificate, operating licenses, Official national fiscal authority certificate(TCC, Social Compliance certificates ie NSSF, NHIF) are required.
4.2 Evaluation criteria
The Working Group will review and rate the applications according to the evaluation criteria below based solely on the documents/information that will be submitted by the Applicant.
Criteria /Max Score
1. Organization profile and experience
The Bridging Africa-Europe SDG Investment Summit Working Group will rate the applicant’s profile, track record, reputation, and experience in similar work/projects and in the country, check also if the applicant has successfully implemented other projects with partners in the past.
Max Score: 15
2. Team
The Bridging Africa-Europe SDG Investment Summit Working Group will rate the applicant’s proposed team structure, and if the experiences of the team members are suited for the purpose of the EOI (skills for management, technical know-how, on the field foot print, monitoring and resource mobilisation capacities, etc.)
Max Score: 15
3. Methodology
The Bridging Africa-Europe SDG Investment Summit Working Group will rate the appropriateness of the applicant’s proposed methodology and approach, determine if it is suited for the purpose of the EOI, if the workplan is realistic and achievable, assess the project’s strategy, risk management, quality control, reporting and other project management good practices
Max Score: 15
4. Value Addition
The Bridging Africa-Europe SDG Investment Summit Working Group will determine if funding to the applicant will create:
- Impact: Faster, larger or better development impact than the applicant would be able to achieve working alone.
Max Score: 20
5: Gender perspective
The Bridging Africa-Europe SDG Investment Summit Working Group will rate the applicant’s foresight of gender focus in the proposed intervention, to have women both external (users) and internal (staff) benefit equally than men.
Max Score: 10
6: Sustainability and Business Plan
The Bridging Africa-Europe SDG Investment Summit Working Group will rate the applicant’s sustainable financial perspective and business plan that could generate an investment pipeline for the summit.
Max Score: 15
7. Result Measurement
The Bridging Africa-Europe SDG Investment Summit Working Group will rate the applicant’s coherent measurement plan and data management plans.
Max Score: 10
TOTAL: 100
5. AGREEMENT PARAMETERS
Applicants shall give evidence that their solutions are aligned to the following parameters.
5.1 Applicants
Eligible candidates can apply alone or as lead applicant in a consortium of firms, as long as they comply with the eligibility requirements set forth in section 3.1 in case of a consortium of entities applying to the EOI, the lead applicant shall comply with the eligibility requirements. The lead applicant will be responsible of:
- Submitting the application form on behalf of the consortium.
- Ensuring that each partner is fully aware of the composition of the partnership and of the contents of the Application Form.
5.2 Target segment
The Bridging Africa-Europe SDG Investments Summit seeks growth businesses in Kenya aligned with the Sustainable Development Goals (SDGs). Target sectors include:
- Food Systems & Agricultural Value Chains: Enhancing food security, sustainable agriculture, and biodiversity preservation.
- Health Sector): Innovative medical technology and digital healthcare solutions including Primary Care.
- Environment: Water, Energy and relevant Infrastructure: Focus on clean water access, renewable energy, and climate change solutions.
- Technology & Digitisation: Driving innovation, education, and sustainable industrialisation through technology.
Priority will be given to applicants empowering women and youth. The final beneficiaries are growth businesses in Kenya meeting eligibility criteria, demonstrating potential for impactful SDG-aligned investments, and showcasing financial sustainability and social impact commitment.
5.3 Geographical scope
Eligible organisations with products or services offered to customers in Kenya are invited to submit their interest in response to this call for Expression of Interest.
5.4 Budget
Applicants shall mention in the EOI the funding required, the type of instrument preferred, and other terms as appropriate.
6. APPLICATION REQUIREMENTS AND APPLICATION PROCESS
6.1 Structure of the Application
The applicant must submit a complete application online. All applications should be supported by the following documents :
- Eligibility Documents (see list below)
- Technical submission form (using link attached)
- Budget and worklpan (using link attached)
- CV form (using link attached)
The Eligibility Documents shall consist of the following :
☒ Certificate of Incorporation/Registration of the business, including Articles of Incorporation, or equivalent document if Applicant is not a corporate entity
☒ Tax Registration/Payment Certificate issued by the Internal Revenue Authority in the country of operation evidencing that the Applicant is updated with its tax payment obligations, or Certificate of Tax exemption, if any such privilege is enjoyed by the Applicant
☒ Environmental Compliance Certificates, Accreditations, Markings/Labels, and other evidences of the Applicant’s practices which contributes to the ecological sustainability and reduction of adverse environmental impact (e.g., use of non-toxic substances, recycled raw materials, energy-efficient equipment, reduced carbon emission, etc.), either in its business practices or in the goods it manufactures
☒ Latest Audited Financial Statement (Income Statement and Balance Sheet) including Auditor’s Report and opinion for the past 3 Years
Only applications that follow the Submission Formats and include all the necessary documentation will be considered.
6.2 Application Details
The applicants are expected to observe and be mindful of the below information governing the Application process :
Deadline of Submission of Application: 12/05/2024
Time of Latest Submission*: 23:59 EAT TIME
Language of the Application and all supporting documents: English
Method for Submission of Application: https://docs.google.com/forms/d/e/1FAIpQLSecbZQmxDp7FI2VPRRQ1qV0Nuid_8p-cc3S464RsF5XOjJPgg/viewform?usp=sf_link
Email address for submission of Questions: robert.fitzgerald@un.org cc: arif.neky@undp.org
Areas of Intervention where an Applicant can apply (Applicant indicate the areas targeted in the application they are submitting)
- Food systems (including Agriculture value chains)
- Health sector
- Environment (including Water, Energy and relevant Infrastructure) and or
- A cross-cutting enabler of Technology including Digitisation.
Validity of the Application: 150 calendar days
Currency of the Budget Proposal: USD
Financial Component: The investor database of potential investors interested in SDG-aligned projects in Kenya shall facilitate the connection between eligible applicants and potential investors. Such connection might result in enabling new investments by the potential investor into the identified eligible investment opportunities.
Applicants shall mention in the EOI the funding required, the type of instrument preferred, and other terms as appropriate.
* All Potential Applicants are encouraged to visit the EOI site frequently to check on deadline extensions.
6.3 Selection Process
- Eligibility screening/Pre Assessment – eligibility will be assessed according to the eligibility requirements as set forth in section 4.1.
- Evaluation of eligible applications based on the evaluation criteria set out in section 4.
- Due diligence: A due diligence of the cleared proposals will be conducted. Additional documentation and evidence may be requested by investors to the applicants. This process will be carried out by individual investors
- Notification of applications – all applicants will be notified of the status of their applications.
- Final approval of the Approval of the qualifying entities by the individual Investor Investment Committee.
- Notification of approved qualifying entities and negotiation of agreement.
7. Link to apply
Click the link to apply: https://docs.google.com/forms/d/e/1FAIpQLSecbZQmxDp7FI2VPRRQ1qV0Nuid_8p-cc3S464RsF5XOjJPgg/viewform?usp=sf_link
