To help Nigerian businesses to modernise, in particular the food and consumer goods sector.
The Market Modernisation Fund is now closed to applications
The MMfund offers grants for investment in innovative business projects that will help the poor. It is for the wholesale and retail sector, in particular the food and fast moving consumer goods industry, to modernise their business models and use new technology.
The value of the fund is £3.5 million, with grants available of up to £250,000. Grant funds can be used either to pilot a new and innovative business idea or to scale up an existing successfully piloted project.
The objectives of the fund are to:
- improve the efficiency and performance of the wholesale and retail sector in Nigeria
- increase the GDP contribution of this sector to the Nigerian economy
- contribute to the creation of employment opportunities for 10,000 poor and women in this sector in Nigeria
- contribute to increased incomes for 500,000 poor and women engaged in this sector in Nigeria
The MMfund is open to commercial business entities in Nigeria’s wholesale and retail sector. It is also open to related support service providers, such as distribution, intelligence, merchandising, exchange (trade), financial services, and information and communication technology companies, to undertake new and innovative business activities.
How to apply
Full details of how to apply are on the Market Modernisation Fund website.