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March 2nd, 2021
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Africa News

25 AfDB Agripreneurs Inching Closer to Bagging US $125K Funding

As the submission for agribusiness competition closed at the end of October, the AgriPitch organizers highlighted that they received more than 2,500 applications and evaluated 605 proposals from 30 countries. The African Development Bank then selected twenty-five young African agripreneurs for the final level of the AgriPitch competition.

The finalists who range from over 12 African nations, submitted promising proposals that best embraced the 2020 theme of Driving Sustainable Nutrition and Gender Inclusivity in Africa’s Agri-Food Systems: Youth Agripreneurs Seize the Decade.

“It is encouraging to see that almost 62% of all AgriPitch 2020 applicants self-described as being women-led businesses or having women make up at least 50% of their management.”

Wambui Gichuri, the Bank’s Acting Vice President for Agriculture, Human and Social Development.

The AgriPitch competition is part of the AfDB’s fourth African Youth Agripreneurs Forum (AYAF), one of the continent’s platforms for African youth in the agriculture start-up scene.

The finalists are now enrolled in the AYAF/AgriPitch online training platform, stepping closer to a share of US$120,000 in seed funding prizes, training, and other benefits.

“In this two-week-long business development boot camp, AgriPitch competitors can attend virtual sessions on product development, revenue channel identification, logistics, marketing, business management, investment readiness, financing and other issues, led by trainers and coaches,” said Edson Mpyisi, Coordinator of the Bank’s Enable Youth Program responsible for the event.

The African Development Bank then selected twenty-five young African agripreneurs for the final level of the AgriPitch competition.

This year’s AYAF and AgriPitch competition is undertaken in collaboration with partners like UN Women, the African Leaders for Nutrition and the Affirmative Finance Action for Women Africa initiative.

The winners selected from the finalists from Kenya, Uganda, Rwanda, Nigeria, Benin, Tanzania, Cameroon, Mozambique, Guinea, Malawi, Ghana and Côte d’Ivoire will be crowned at a ceremony held on 16 and 17 November.

Competition winners will be named in three categories: early start-up, mature start-up and women-empowered businesses.