Prospero works through “intervention partnerships”, arrangements whereby we work with private and public sector
organisations on joint projects that fit both parties’ strategic objectives.
Prospero offers support to our partners in form of co-investment of a combination of resources, time, money and effort to introduce new products, services or business models in a specific focus sector market or value chain. While our partner invests in the hope and expectation of future profits and financial returns to shareholders, Prospero invests for development returns which mostly focus on; new or more secure jobs, supporting people to cope with effects of climate change, promoting a green economy and increasing income opportunities for Zambians.
During the selection stage, Prospero staff engage with the applicants whose proposal and Business Plans have been strengthened understand their model and give guidance on the preparation of the Business Plans implementation.
Final Business Plans are presented to the Prospero Grant Selection Committee who meet and decide whether the proposal and Business Plans delivers value for money and fit the Prospero strategy or funding priorities.
The Proposal and Business Plan is presented to the Prospero Grant SelectionCommittee who meet and decide whether or not the project should receive support. In the case of high value projects, the Selection Committee’s decision may be subject to approval by the Prospero Board and/or the relevant funder. Prospero will inform applicants of the outcome of the final selection process, and if the application is rejected will explain why this has happened.
Successful SMEs are invited for an Induction meeting which is held virtually or physically to review set milestones and targets. During this meeting, the reporting obligations and frequency of reporting are made clear to the SME prior to signing the contract. The company is also informed about the initial baseline survey that will need to be filled in before the disbursement of funds.
The contract/agreement signing is done soon after the Induction meeting and itformalizes obligations and deliverables committed to by the grantee to meet allcontracting terms and inform disbursement of funds.
Disbursements of funds to the partners are based on milestone achievements, funds are only paid when Prospero has verified that a milestone has been fully completed. Milestone schedules and due dates agreed to at the grant awarding and contracting stage.