IAP Backs 14 Businesses Targeting 3.2 Million People

€2.27 million in IAP grants for businesses across Ethiopia, Uganda and Zambia

Harry Malichi, CEO/Co-Founder of Wuchi Wami Limited and Emmanuel Phiri, Programme Manager at IAP

Innovations Against Poverty (IAP) has signed contracts with 14 inclusive businesses projected to reach 3.2 million people living in poverty (PLIP) by the end of 2026. The businesses will receive €2.27 million in IAP grants matched by €4.21 million in company co-investment—a 1:1.85 leverage ratio.

The announcement follows an intensive nine-month selection process that began in November 2024 when IAP opened applications for its third funding round. The application underwent multiples stages from evaluation to due diligence, pitching and contract negotiations, with 14 businesses selected based on commercial viability, proven inclusive business models, innovation and readiness to scale their impact.

Who Was Selected

The 14 selected businesses span diverse sectors and business models:

Ethiopia:

Enrich Agro Industry produces affordable, pre-cooked, fortified cereal drinks ideal for urban low-income consumers seeking instant nutritious options.
Bere Sericulture Production sources cocoons from women smallholder out-growers to produce high-quality silk thread and transform it into 100% silk finished products.
Center for Applied Manufacturing Services and Engineering delivers eco-friendly agricultural mechanisation, cold storage, and market linkages to smallholder farmers through a youth-driven franchise model.
Mela For Her produce and distributes affordable reusable menstrual products to underserved women and girls through women-to-women distribution networks.
Theday Agro Industry produces affordable, additive-free strawberry jam and fresh juices by sourcing fresh fruits from smallholder farmers.

Uganda:

Nutrinova establishes a scalable poultry hub model and out-grower scheme that lifts smallholder farmers into commercial agriculture through integrated value chain management.
Irrisol Engineering scales an integrated water utility model combining solar-powered infrastructure with pay-as-you-go payment systems to enable universal access to clean water in rural areas.
Eco Brixs transforms plastic waste into valuable construction materials while creating green jobs and fostering a circular economy.
Kawacom operates a premium organic value chain transformation model that builds capacity of smallholder farmers to become EU-certified organic sesame producers with direct access to high-value international markets.
Bioconvision upcycles invasive water hyacinth and food waste into high-yield livestock feed and organic fertiliser, providing farmers with a stable, locally sourced alternative to volatile imports.

Zambia:

Lamish Trading creates an integrated agricultural value chain through input financing, training, and guaranteed output markets for women and youth smallholder farmers.
Wuchi Wami strengthens an inclusive honey value chain through input financing, training, and guaranteed markets that enable smallholder beekeepers to access quality inputs and premium prices.
Fanaka Technologies provides bundled financial services including micro-insurance, credit, training, and digital finance to underserved women and youth-led SMEs, creating credit histories and onboarding them into the formal financial system.
Mima Sanitation Services provides market-led pit latrine emptying services to low-income households in peri-urban areas, bringing public health safety and sustainable sanitation solutions.

Projected impact

Beyond these numbers, the businesses aim to create transformative change for participating communities. Smallholder farmers will gain reliable market access and fair prices, transitioning from subsistence to commercial agriculture. Women will earn independent incomes through distribution networks and home-based enterprises. Low-income households will access essential services—clean water, sanitation, nutritious food, and financial products—previously unavailable in their communities. Through training, financing, and market linkages, these businesses integrate people living in poverty into sustainable value chains where they can build assets, develop skills, and strengthen their economic resilience.

Beyond Funding

IAP’s support extends beyond financial investment. During the 12–18-month implementation period, businesses receive technical assistance tailored to their specific needs. In addition, all 14 companies will receive investment readiness support through our partner, Inclusive Business Partners, and the IAP investment officer, who together will prepare them for future commercial capital and connect them to IAP’s network of local and regional investors. Six of the businesses will also receive business development support from BopInc, which will provide specialised assistance tailored to their inclusive business models. Each grantee will also be matched with an investor mentor for strategic guidance.

Growing the Portfolio

Bangladesh joined the programme in August 2025. Having received 94 applications, IAP aims to select 3-4 companies to support by year-end, expanding IAP’s geographic reach to five countries.