A young Malawian entrepreneur Sungeni Ng’onamo is among 24 other young African agripreneurs shortlisted for the boot camp final round of the African Development Bank’s (AfDB) agripitch competition.
The shortlist means that Ng’onamo is closer to getting $120 000 (about K90 million) in seed funding, training and other benefits.
The final round offers young entrepreneurs in Africa’s agricultural sector the opportunity to pitch their agribusiness proposals online to a panel of experts and investors who will select the winners.
In a written response on Sunday, Ng’onamo said it was an honour to be among the 24 shortlisted candidates out of the 2 500 applicants.
He said: “Our concept aligns itself well with this year’s theme which enabled us to have a higher ground.
“This was our first time applying and we thank God for the chance to be part of the selected team.”
Ng’onamo said he is hoping to get through the final phase to bring sustainable impact to smallholder women farmers to be targeted under the project.
On his part, AfDB acting vice-president for agriculture, human and social development Wambui Gichuri said all qualified agripreneurs will get training and support to grow their businesses.
He said: “It is encouraging to see that almost 62 percent of all AgriPitch 2020 applicants self-described as being women-led businesses or having women make up at least 50 percent of their management.”
AgriPitch organisers received more than 2 500 applications and evaluated 605 proposals from 30 countries.