Twenty-five youth-led agriculture sector companies from 14 African countries have advanced to the final round of the African Development Bank Group’s 2022 AgriPitch competition.
The bank, in collaboration with implementation leading private equity support and partner organizations AldoHub and Private Finance Advisory Network, announced 25 finalists for the competition, which will award $140,000 in grants and business skills training.
Of the 25 finalists, 17 are small and medium enterprises owned or led by women. Thirteen are from Francophone countries, while the other 12 are from Anglophone countries.
The Agripitch competition targets African youth aged 18 to 35 working in the agricultural value chain. The 25 finalists will receive training to build business acumen capability with the necessary tools and knowledge to strengthen their investor readiness, financial management and help them present bankable business proposals.
“These young agri-entrepreneurs show great potential and are a testament to the level of innovation present across Africa. The Bank’s support through the Agripitch competition will boost the bankability of these projects and work towards enhancing agribusiness and food security will provide a concrete step forward in the continent,” said Edson MPC, the bank’s Chief Financial Economist and Empowering Youth Coordinator.
The competition received more than 1,000 applications from African “agri-entrepreneurs”, including approximately 250 entries from women-owned or led small and medium enterprises.
“It is reassuring to see and evaluate hundreds of great potential investment opportunities from across the sector,” said Diana Gichaga, Managing Partner at Private Equity Support. “This confirms the important role that the agriculture sector plays in the African economy and the ongoing efforts to bring these initiatives to the fore through platforms such as the Agripitch competition,” she said.
The Agripitch competition is a central and recurring activity of the African Development Bank’s Enable Youth Program sponsored by the Bank’s Youth Entrepreneurship and Innovation Trust Fund. The 2022 edition will award three start-up categories: early start-ups (0-3 years of operation), mature start-ups (3 or more years in operation) and women-empowered businesses (firms with at least 51% stake ) Woman owned or established by a woman). Finalists will present their business plans to potential investors in the Agripitch deal room and will be eligible for one-on-one mentorship as well as access to post-competition digital expertise.
click here To view the video announcement of the 25 finalists for the 2022 Agripitch Competition, use this access code: .51E*7M.
you can do it click here For more information about the finalists