Twenty-five youth-led agriculture sector companies from 14 African countries have advanced to the finalist round of the African Development Bank Group’s 2022 AgriPitch Competition.
The Bank, in collaboration with the implementing lead Private Equity Support and partner organizations Eldohub and the Private Finance Advisory Network, announced the 25 finalists for the Competition that will award $140,000 in grants and business skills training.
The 25 finalists include 17 women-owned or led small and medium enterprises. Thirteen are from Francophone countries, while the other 12 are from Anglophone countries.
The AgriPitch Competition targets African youth aged 18 to 35 years working in the agricultural value chain. The 25 finalists will receive training to build business skill capacity with the requisite tools and knowledge to bolster their investor readiness, financial management, and help them pitch bankable business proposals.
"These young agripreneurs show great potential and are a testament to the level of innovation that exists across Africa. The Bank’s support, through the AgriPitch Competition, will boost the bankability of these projects and provide a tangible step towards enhancing agribusiness and food security on the continent," said Edson Mpyisi, the Bank’s Chief Financial Economist and ENABLE Youth Coordinator.
The Competition received over 1,000 applications from African “agripreneurs,” including around 250 entries from women-owned or led small and medium enterprises.
"It’s reassuring to see and evaluate hundreds of great potential investment opportunities from across the region," said Diana Gichaga, Managing Partner at Private Equity Support. "It reaffirms the crucial role that the agricultural sector plays in the African economy and the continued efforts to bring these initiatives to the fore through platforms such as the AgriPitch Competition,” she added.
The AgriPitch Competition is a central and recurring activity of the African Development Bank’s ENABLE Youth Program, sponsored by the Youth Entrepreneurship and Innovation Trust Fund of the Bank. 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% share of women ownership or founded by a woman). The finalists will pitch their business plans to potential investors in the AgriPitch deal room and be eligible for one-on-one mentorship as well as access to post-competition digital expertise.
Click here to watch the video announcement of the 25 finalists for the 2022 AgriPitch Competition, using this access code: .51E*7M.
You may click here for more details about the finalists
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...
• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...
• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...
• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...
• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...
• Ghana signs a deal with eLearning Africa to expand digital learning access across the country.• The partnership focuses on deploying modern digital...
Ghana launches the Oncology Nurse Leadership Program (ONLEP) to train specialized oncology nurses from seven African countries. The five-year...
Ivanhoe Mines signs deal covering 100% of Kamoa-Kakula smelter’s copper output. The smelter will process up to 500,000 tonnes annually, starting at...
African gas projects drive significant contracts for Asian shipbuilders, especially for Floating Liquefied Natural Gas (FLNG) units. South Korean...
Kolmanskop offers a haunting blend of lost wealth, colonial history, and the unstoppable force of nature. Located just a few kilometers inland from...
Located about 40 kilometers from Cape Town’s city center, Boulders Beach in Simon’s Town is one of the Cape Peninsula’s most iconic destinations. This...