Frequently asked questions (FAQs)
PROSPER Salone is a grant-matching facility extended to domestic and international investors that are looking to invest in Sierra Leonean firms. The grant aims to reduce the risk for investors by supporting their market entry, through tools such as scoping trips, feasibility studies, pipeline development, due diligence and business viability.
The Fund ultimately aims to catalyse investments in the Sierra Leone market that will have a knock-on effect, showcasing to prospective investors the potential and viability of the Sierra Leonean market in the long term, and after the Invest Salone programme ends.
The CLIMATE window targets impact investors, institutional investors, domestic investors, international corporates or a consortium of investors seeking to invest in Sierra Leone with the aim to support mitigation and adaptation actions that address climate change.
Proposals can be submitted by individual organisations or in partnership with others including non-governmental and community organisations.
In addition to the CLIMATE window, the general PROSPER window remains live as well. If your investment proposals does not fit under the CLIMATE window, please apply under the general window.
This latest funding window will allow investors to test out ideas that have the potential to create positive impact when it comes to addressing climate change in Sierra Leone. This includes:
- Early-stage investment activities such as assessing the bankability of an investment, conducting market scoping and/or environmental impact assessment, site visits, conducting due diligence on potential investees or supporting pipeline development.
- Also, proof-of-concept investments such as supporting businesses to adopt climate-related disclosure measures, carbon capture or carbon off-setting initiatives, finalising the capital structure/model of an investment, fundraising and marketing activities with prospective investors, and development of a climate change/environmental action plan among others.
Applicants must complete the Concept Note Application Form.
If shortlisted post discussion with the PROSPER Salone Fund Team, applicants must develop an Intervention Note and Budget in cooperation with the Invest Salone team. The Intervention Note and Budget are to be approved by an independent Investment Committee.
If you are interested and wish to submit a Concept Note, please visit the Apply for a PROSPER Salone grant page.
PROSPER Salone provides matching grants of between £5,000 and £350,000. However, the amount of the grant varies based on the activity for which funding is sought. The grant amount is finalised after the approval from the Independent Investment Committee, and may be disbursed in tranches corresponding to the grant milestones.
It is required that investors seeking funding must provide matching funds (in-kind or cash) that are at least 20–30% of the total cost of the supported activity.
It is an open application window. We accept applications on a continuous basis, with no deadlines or ‘rounds’ of funding.
PROSPER Salone is looking to deliver significant benefits to firms and the overall investment climate in Sierra Leone. Some of the target impact metrics include:
- Increase in productivity of competitiveness of companies
- Increase in exports or purchase orders of companies
- New permanent or part-time jobs created by the project
- Development of institutional investor network in Sierra Leone
- Increase in investment committed in Sierra Leonean firms
- Facilitation initiatives that strengthen the ecosystem of investors and buyers.
No. Payments will be made according to an agreed schedule with the project’s implementer(s). These payments will be released when the project meets each pre-agreed milestone as part of the PROSPER Salone grant agreement.