By
Paul Ndiho
June
30, 2012
At
the second African Diaspora marketplace competition, seventeen African
entrepreneurs in agribusiness, information technology and renewable energy were
awarded grants to start or expand their business– and promote economic growth
in north and Sub-Saharan Africa.
Nearly
500 entrepreneurs’ submitted business plans to compete for a grant to invest in
their business as part of the Africa Diaspora marketplace ii competition. The
event featured forty-four finalists who competed for one million dollars in
prizes. Seventeen were selected and walked away with fifty thousand
dollar matching grants. US-AID, and the western union company jointly fund
a-d-m ii.
Jeffery
Jackson, senior private sector adviser at US-AID says the finalists’
initiatives ranged from software development in Ghana, to palm kernel
processing in Nigeria, to poultry production in Kenya.
“The
African Diaspora market place is a very innovative business plan competition
where we are targeting members of the African Diaspora and others who are
interested in African development.”
Alden
zecha, C.F.O, of Spoxel, a previous winner of an ADM award. He was also
one of the judges tasked with selecting the top twenty ventures, he explains
the criteria.
“One
was incredible passion, to see that they really believe in their idea and that
they feel very strongly about it. Another aspect is commitment: Are they really
committed to make sure that their project succeeds and are they willing to
invest not just their time and energy but potentially some of their funds. Also
looking at their knowledge and the research they’ve done.”
David
Kiambati, a Nairobi-based agribusiness entrepreneur says he is looking to
expand his business and become a regional player.
“Zero
waste-based farming and essentially what you do is you take those organic
fertilizers and put it right back in the land, you improve the yield from the
land and you have more food crops for people to eat and also what you do is you
can use those same organic food crops to feed the pigs have better quality
pigs.”
Western
union is a leader in global payment services and one of the partners who say
they are constantly looking for creative ideas.
“We’re
looking for innovative ideas. First of all, ideas in agribusiness, ICT or renewable
energy that target really high growth, potential high growth areas on the
continent of Africa. Really things that change, are new, really make
agribusiness more efficient.”
Seyi
Adeyinka of Riol farms, a Nigeria based livestock and crop production farm
located in Ogun state, about 50 miles outside of Lagos, was one of the winners
of a $50 thousand dollar grant. She says that Riol farms are committed to its
customers, workers and its community.
“The
$50,000 will enable us to do all of that right away and start embarking on the
poultry production unit which will be very beneficial to us and also to the
community because we will be employing more people in the local area.”
VOA’s
Ndimyake Mwakalyelye, host of the event told the aspiring entrepreneurs that
they should identify themselves as vehicles of change and that they could help
put Africa on a very different path. To expand upon previous successes,
the organizers invited Tony Elumelu of the Tony Elumelu foundation and award
winning actor, Jeffery Wright, and founder of the Taia foundation. Elumelu,
whose foundation is dedicated to the promotion and celebration of excellence in
business leadership and entrepreneurship across Africa, says that Africans in
the Diaspora need to team up with those on the continent to develop Africa.
“I’ve
said many times that no one is going to develop Africa but ourselves, so
Africans in Diaspora should see it as a learning phase, a phase to amass
knowledge, expertise, experience exposure and take it that all these human
capital acquisitions and assists would be nothing if they don’t play a role in
the development of Africa.”
Last
year’s ADM grantees are at the forefront of number innovative business
enterprises Sub-Saharan Africa.
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