Aceli Africa is a market catalyst that aims to mobilize $2 billion in private-sector lending for agricultural SMEs and improve livelihoods for 5 million farmers and workers by 2030. To achieve this goal, Aceli provides financial incentives to increase the risk appetite of 50 financial institutions and to enable them to make loans ranging from USD $10K to $1.5 million to high-impact agricultural SMEs. Complementary technical assistance builds capacity for lenders and SMEs while data and learning drive engagement with partners to strengthen the policy and regulatory environment. Since launching in 2020, Aceli has mobilized $400M in lending to SMEs, providing market access for 2M smallholder farmers across Kenya, Rwanda, Tanzania, Uganda, and Zambia. To date, Aceli Africa has secured US$120M+ in funding from leading bilateral and philanthropic donors, including the Dutch Ministry of Foreign Affairs, Gates Foundation, Global Affairs Canada, IKEA Foundation, Norwegian Agency for Development Cooperation, Swiss Agency for Development and Cooperation, and UK Foreign, Commonwealth and Development Office. Aceli is completing an initial five-year phase (2020-25) and positioning for ambitious growth and influence in Phase Two (2026-30). With a donor-funded model and complex multi-country operations, Aceli Africa manages several mechanisms to achieve this objective, including performance-based incentive payments and innovative capital mobilization strategies.