There are very few forums where you can start the day discussing climate resilience with a farmer, debate innovation with a researcher, explore investment opportunities with financiers, engage policymakers on reform, and hear directly from young entrepreneurs shaping the future of food systems. That is what makes the AFS Forum unique. The Forum brings together the full spectrum of actors driving food systems transformation across the continent: farmers and farmer organisations, agribusinesses, researchers and universities, investors and financial institutions, governments, development partners, philanthropies, civil society organisations, think tanks, technology innovators, youth and women leaders, intermediary organisations, and programme implementers working closest to communities. Few platforms create such an opportunity for dialogue, alignment, and collective action. This year, though, I think the youth representation stood out. Young people were not being spoken for; they were in the sessions, contributing ideas, challenging assumptions, and articulating the kind of food system they want to build. AFS continues to be one of those rare convenings where the right conversations meet the right stakeholders, and if there is someone you need to learn from, challenge, or partner with in Africa’s food systems, chances are they are somewhere in the room. I left encouraged by the conversations, connections, and, above all, the sense that Africa’s food systems transformation is being shaped by an increasingly diverse group of people who are ready to act

The #AFSForum2026 @TheAGRF created space for some really meaningful conversations about the future of Africa’s food systems, from investment and innovation to the roles of farmers, businesses, policymakers, and development partners in shaping more resilient food systems. I had the opportunity to engage across different sessions and conversations, and I thought I would share some reflections I raised during a session focused on women entrepreneurs. What do funders get wrong when financing African agribusinesses? Too often, we design capital for the business we assume exists, rather than the business that actually does. Ticket sizes, collateral requirements and growth timelines are often built around a familiar template: asset-heavy businesses, land titles, established networks and predictable growth timelines. But many of Africa’s most promising enterprises do not fit neatly into that template. For women entrepreneurs in particular, the barriers can go beyond access to capital. They have to navigate care responsibilities, thinner professional networks, limited mentorship, and fewer connections to markets. In their context, simply writing a cheque and expecting the entrepreneur to figure out governance, compliance, market access, and growth is not enough. Hence the need for capital to be treated as a partnership, and @AECFAfrica's experience continues to reinforce the value of pairing finance with technical assistance, market linkages and investment support, not as add-ons, but as the point. We have all heard the phrase “no pipeline”. I cannot minimize the challenge of finding bankable projects in Sub-Saharan Africa, but with the work we do, I now sometimes think that ‘there is no pipeline’ could be either proof of no pipeline or proof that we are looking in the wrong places. With more intentional sourcing, the right networks, and the right market intelligence, businesses that would otherwise remain invisible can emerge. My conversations throughout the forum highlighted that Africa’s food systems require better-designed capital that understands the entrepreneur, the market, and the realities in which both operate. Motivation tank refilled 🙂. Now to continue the work of expanding the horizon of investor-ready agribusinesses!

One of the surest ways to cut Africa's food import dependence: stronger local seed markets. Find out from @AECFAfrica @VictoriaSabula how Seeds for Impact is strengthening seed markets for smallholders across Ghana, Nigeria, Kenya and beyond: bit.ly/3TF6gyK

I will be joining fellow agri-food systems leaders and practitioners at the Africa Food Systems Forum hashtag#AFSForum2026 in Kigali. Across different sessions, I will contribute to conversations on; ✔️ Inclusive finance and enterprise growth ✔️ Women’s leadership ✔️ Private sector investments ✔️ Policies and partnerships needed to build more resilient and sustainable food systems across Africa AFS is an important space for exchanging ideas, learning from what is working across the continent, and strengthening the collaborations needed to turn ambition into impact. I look forward to connecting with participants, partners, and peers throughout the Forum.

The warehouse was never really the investment. The growth it unlocked was. In 2015, Agrinature had two branches and one rented warehouse. Through our Seed for Impact Program (SIP 2.0), funded by Sida, AECF backed Agrinature's growth from renting the storage it needed to owning a 7,000-metric-tonne warehouse, a full seed processing line, and its own seed quality control laboratory. Permanent staff grew from 15 to 38. Branches grew from two to seven, reaching farmers across Mbeya, Madaba, Babati, Siha and beyond. But the infrastructure is only part of the story. Today, 85 outgrowers produce certified common bean seed, including High Iron Bean varieties that bring both better nutrition and income to farmers' fields. This is what catalytic capital can do when placed early and paired with the right technical support: help move a company that once couldn't access commercial finance to a point where it can invest, grow, and serve its market at scale. #AgriFoodSystems #SeedsForImpact #AECF #Sida #Tanzania #CatalyticFinance

It was great to see Kakuma come alive at the Kakuma Market Exhibition and Trade Fair last week. When we launched the Kakuma Kalobeyei Challenge Fund (KKCF) @kkcfkenya in 2020, our ambition was to demonstrate that refugee-hosting areas such as Kakuma and Kalobeyei are not only places of need, but also places of enterprise, innovation, and opportunity. Seeing that ambition come to life through the businesses we have supported is rewarding. I am especially proud of the KKCF investees who continue to show what locally driven enterprise can achieve in Kakuma and Kalobeyei. Their work reinforces @AECF's belief that talent and entrepreneurial potential exist everywhere. What is often missing is access to the capital, capabilities, and markets needed to turn that potential into sustainable businesses. Events such as the Market Day matter because financing businesses is only part of the journey. Enterprises also need customers, networks, partnerships, and visibility. Creating these connections is how we build stronger local markets that can continue to thrive beyond individual programs. My appreciation goes to our investees and entrepreneurs for the work they do every day, and to our partners, stakeholders, and the communities of Kakuma and Kalobeyei for continuing to believe in the possibilities of enterprise.

Across Africa, young people are showing what they can achieve when given the opportunity to turn their ambition into action. While their circumstances may differ, many share a common determination to build meaningful livelihoods, create and innovate, and contribute to stronger communities. The @AECFAfrica is expanding financing and advisory support for youth-led and youth-focused SMEs, particularly in agriculture and renewable energy, and is working with financial institutions to develop products that better meet the needs of young entrepreneurs. A prosperous, enterprising, and resilient Africa depends largely on young people having the capital, skills, and opportunities to build its future. On this #InternationalYouthDay, I celebrate the ingenuity and resilience of Africa’s youth.

Have you watched Episode 2 of the AECF Podcast? Join AECF CEO @VictoriaSabula for an insightful conversation on why AECF exists and how catalytic finance, patient capital, technical assistance, and partnerships are helping African enterprises grow and create lasting impact. Learn how enterprise-led development can unlock jobs, expand access to essential services, and build a more inclusive, prosperous, and resilient Africa. ▶️ Watch the full episode and share your reflections:piped.video/watch?v=CWwj51SG…

Across Africa, entrepreneurs are already building solutions to some of the continent’s most urgent challenges. Yet many businesses with the potential to transform communities remain too early for banks, too risky for traditional investors, and too small for large-scale capital. In the second episode of the @AECFAfrica Podcast, I reflect on why AECF was established, the financing challenge we were created to address, and what we have learned from supporting enterprises across Africa. We also discuss why capital alone is not enough, and how patient financing, technical assistance, investment readiness, and strong partnerships can help promising businesses grow, create jobs, and reach underserved communities. This conversation is ultimately about the Africa we are working towards: one where great ideas do not remain small simply because financing and support were out of reach. I invite you to watch the full episode and share your perspective on how we can unlock more enterprise-led growth across the continent. ▶️ Watch here: piped.video/watch?v=CWwj51SG…

Every journey has a starting point. Before leading @AECFAfrica, before the boardrooms and conversations on enterprise and development finance, I was simply a young girl shaped by the people, experiences, and values that continue to guide me today. In this short clip from Episode 2 of the AECF Podcast, I share a little about where my story began and how those early experiences shaped my perspective on leadership, opportunity, purpose, and why I care so deeply about creating opportunities for African entrepreneurs to succeed. The full conversation explores why AECF was created, the financing challenges facing Africa's entrepreneurs, and what it will take to unlock the potential of businesses that drive inclusive growth across the continent. I look forward to sharing it with you when it premieres.

My day today started with meeting @AmbGamal, Somalia’s Minister of Commerce and Industry @mocisom. We had a meaningful conversation on Somalia’s growth and the role that private investment, enterprise development, and stronger institutions can play in shaping it. Somalia has too often been viewed through the narrow lens of fragility and aid dependence, yet the country is actively working to change that narrative by focusing on creating the conditions for investment to flow into productive sectors. We spoke about the opportunity to strengthen Somalia’s SME ecosystem in a more deliberate way. This includes supporting more formalized ways of doing business, helping enterprises build the capacity to grow, and better identifying and preparing different types of businesses for available opportunities, from first-time entrepreneurs to growing businesses, women-led enterprises, and young people-owned businesses. We also discussed potential areas of collaboration between the Ministry of Commerce and Industry and @AECFAfrica, particularly initiatives to unlock capital for SMEs in sectors such as energy, financial services, and the blue economy. I left encouraged by the Minister’s commitment to building an investment-ready and opportunity-driven SME sector and inspired by the possibility of working together to support Somalia’s businesses.

We are pleased to announce the release of our 2025 Annual Report. The report captures a year of progress, partnership, and impact across our work supporting enterprises that are expanding access to jobs, markets, clean energy, finance, and climate-smart solutions for underserved communities across Sub-Saharan Africa. It reflects the commitment of our teams, partners, investees, and stakeholders who continue to help advance enterprise-led development where it is needed most. We invite you to read the report and explore the stories, results, and lessons from our work in 2025. Read the report here: aecfafrica.org/publications/…

Last week, the @wef's Humanitarian and Resilience Investing Initiative #HRI brought together more than 85 leaders from business, government, philanthropy, and development in Geneva for the third annual Frontier Markets Impact Meeting. What a timely conversation on how capital can better serve enterprises working in some of the world’s most complex markets. I had the privilege of sharing my thoughts on venture capital in frontier markets alongside Barri Shorey, Grégoire de Padirac, Michael Weber, and Scott Onder. Discussions over the two days brought forward a reality we see every day. Entrepreneurs are strengthening food systems, expanding energy access, and supporting climate adaptation in some of the world’s most complex environments. Yet the financing available to them often does not match the stage of their businesses or the realities of the markets in which they operate. Commercial investors rightly look for audited track records, predictable cash flows, mature governance structures, and clear exit pathways. Many early-stage businesses in frontier markets are still building these capabilities. They are not short of ambition or innovation, but they often face a readiness gap that traditional venture capital alone is not designed to fill. This is where catalytic capital steps in as market-building infrastructure. It helps absorb early risk, supports operational readiness, builds the evidence base that commercial investors need, and enables more appropriate financing models, including patient and local-currency capital. In doing so, it prepares the ground for commercial capital. At @AECFAfrica, the @kkcfkenya shows this in practice: concessional capital de-risks first movers, crowding in private investment that otherwise wouldn't flow. The room reminded me of the power of working in sync. Founders innovate, catalytic funders help de-risk, commercial investors bring scale, while ecosystem actors provide knowledge, support, and trust. When these roles come together, frontier markets begin to shift from being perceived as risk to being seen as investable opportunity. Thank you to the World Economic Forum and the Humanitarian and Resilience Investing Initiative for creating space for such an important conversation.

The 11th #OurOceanConference in Mombasa made for a great space for rich technical discussions on the potential of the blue economy. What stood out most for me were the conversations with women entrepreneurs in our portfolio. These women navigate structural barriers every day – limited access to finance and productive assets, exclusion from formal markets and value chains, restrictive gender norms, unequal access to training and technology, and disproportionate unpaid care responsibilities - yet still choose to build and grow their businesses. Rashida Athman from Lamu, an Island on the Kenyan coast, is the founder of Rathman Enterprises, a women-owned fisheries business established in 2014. What began as a small fish-trading venture has grown into a thriving enterprise with 22 staff members. With financial and skills-building support from AECF, Rashida purchased a boat that has become a lifeline. It has given her greater control over her business since she can now manage how her catch reaches market and move her product from Kiunga, Shanga, Rasini, and Kizingitini fishing sites to Lamu Island more reliably, where she secures better prices. The business harvests and supplies tuna, perch, prawns, octopus, and lobster to 45 fish traders in Lamu, as well as hotels in Malindi and Mombasa, supplying between 800 and 2,000 kilograms of fish weekly and generating approximately KSh 450,000 in revenue. Perhaps most importantly, the support has transformed how Rashida sees her future. She now envisions Rathman Enterprises growing into a large seafood aggregation business, creating more decent jobs for women and youth in Lamu. Listening to Rashida, I was touched by her confidence and the palpable sense of joy and assurance in her voice. It was the quiet but powerful reminder of a woman whose potential had always been there, waiting to be unlocked. What changed was not who she is, but access to the right opportunities and support. Across Africa, women entrepreneurs are already playing in the blue economy. They are working in fisheries, aquaculture, circularity, waste management, leather, and other sectors that are critical to building more resilient economies and communities along the oceans. Yet too many still face barriers to the finance, assets, markets, and decision-making power they need to grow. In our work in the Investing in Women in Kenya’s Blue Economy programme, evidence shows that when women have access to productive resources and finance, the impact extends beyond the individual entrepreneur; ✔️Families become more resilient ✔️Household decision-making improves ✔️Children benefit ✔️Communities transform, and over time, cycles of exclusion begin to break Supporting women entrepreneurs is the smart and right thing to do if we are to build inclusive economies.

Africa's Blue Economy strategies are in place. The focus now must be on implementation. At the Ocean Conference, AECF CEO @VictoriaSabula moderated a dialogue on translating ocean strategies into coherent investment pathways. The discussion, with governments, investors, DFIs, and the private sector in the room, aimed to explore how we can move from policy ambitions to bankable projects, stronger partnerships, and measurable impact. At @AECFAfrica, we are helping bridge this gap by supporting innovative businesses, de-risking investment, and building the pipeline of opportunities that can unlock Africa's blue economy potential. The opportunity for institutions in this space is to move beyond strategy and accelerate the partnerships, investments, and actions needed to unlock Africa's blue economy potential. #BlueEconomy #AECF #OceanConference #Investment #Africa #SustainableDevelopment #OceanAction

Africa is embracing clean energy at an impressive pace, with solar panels, batteries, and electric mobility solutions reaching more homes, businesses, and communities every year. As we celebrate this progress, there is another conversation we need to have. What happens when these technologies reach the end of their useful life? If we do not put the right systems in place today, the tools helping us build a cleaner future could create a waste problem of their own. Recycling, responsible disposal, and product recovery need to be part of the journey from the start. I share my thoughts on this in my latest op-ed. Read the article here: standardmedia.co.ke/opinion/…

Here’s the question that defined my time at the 8th #GEFAssembly2026 in Samarkand last week: If local enterprises are building the solutions they need for climate resilience, why is capital still failing to reach them on the terms they need? In Africa, 50% of enterprises are credit-constrained and face rigid collateral requirements, short loan tenors, high interest rates, limited credit history, and repayment structures that do not reflect how their businesses earn. Yet, we are counting on these same enterprises to strengthen food systems, expand clean energy access, and build resilience in communities exposed to climate shocks. Having focused our work on supporting early-stage and high-potential businesses that commercial finance may not yet understand to become more investable over time, it was encouraging to see an ecosystem view reflected across the different sessions: Alongside Jason Spensley, Alois Posekufa MHLANGA, Sanjay Wagle, and Qongqong Hoohlo, we discussed how community-driven solutions can move from grassroots innovation to investment readiness. Alongside Cam Do, Ramzi Issa, Patricia Idrobo, Gregory Watson and Oliver Withers, we explored how blended finance can bridge the funding gap, and what it takes for public, private, and development capital to work together in ways that deliver real outcomes. Alongside Matthieu Pegon, Aleksandra Liaplina, Eli Binder, Alex Mugabo and Sanjay Wagle, we went deeper into the practical question of how blended finance is structured, from outcome bonds to SME finance, and what this means for enterprises on the ground. The takeaway from these sessions was clear: when blended finance is structured well, it does more than close a financing gap. It builds new markets by giving enterprises the capital, time, and support to prove their models. It can provide longer-tenor financing, bridge viability gaps, fund the investment-readiness gap, and signal credibility to investors who may otherwise view these businesses as too early or too risky. The measure of success cannot only be how much private capital is mobilized. The real test is additionality - how much capital reached enterprises that commercial finance would not have served on its own? How many livelihoods have been improved, and did it build resilience and create opportunities for communities most exposed to climate and economic shocks? My thanks to Jason Spensley, Avril Benchimol, Matthew Reddy, and Alois Posekufa MHLANGA for the thoughtful planning and for creating space for such practical and necessary conversations. #GEFAssembly2026