Three young agripreneurs, from Kenya and Nigeria, received a total of US$120,000 on November 17 as winners of the “AgriPitch” competition organized by the African Development Bank .

The first winner, a Kenyan, is the founder of a cassava processing company. The other two are Nigerians, one co-founder of a technology-based food processing start-up, the other the owner of a smallholder food supply business.

The "AgriPitch" competition allowed many young agricultural entrepreneurs on the continent to present their projects to a group of experts and investors, who selected winners classified in three categories: "Start-up", "Start-up companies” and “Businesses led by women”.

“I was so happy when my name was announced! responded Elizabeth Gikebe, founder of Mhogo Foods in Kenya, which won the US$20,000 prize in the women-led business category. Delighted not to have given up, Elizabeth Gikebe had already presented "Mhogo Foods" at the 2018 and 2019 editions of "AgriPitch". His company adds value to cassava production by processing the tubers into flour, cassava snacks (light meals) and gluten-free animal feed. “It is with a lot of perseverance that we manage to obtain what we are looking for. This is proof that everything happens in its own time,” she said.

The competition, organized virtually due to the Covid-19 pandemic, received more than 2,500 applications and 605 proposals from thirty African countries. A total of 25 finalists from twelve countries were selected. The finalists took part in a two-week business development campus, then the top nine got a final chance to pitch their project in front of an online jury of experts and investors.

"It's always a great satisfaction to be chosen from such a panoply of companies," said Ikenna Nzewi, winner in the "Start-up" category, who represented Releaf , a food pre-processing technology company. . Founded by Nigerian-American graduates of MIT, Yale and Duke universities and based in Uyo, Nigeria, Releaf plans to reserve its $20,000 prize money for future investments.

“We are confident in our work to catalyze industrialization in agribusiness. It is really something excellent to receive the support of the African Development Bank within the framework of its “ High 5s ”, one of the priorities of which is industrialization”, declared Ikenna Nzewi.

For Femi Aiki, CEO of Foodlocker , winner of the $40,000 prize in the “Mature Startups” category, this seed funding gives “a good wind in the sails” of his company, supports small farmers in giving them technologies to produce foods like tomatoes and chicken. “With this price, we will be able to afford to buy more inputs. We now have the funds to bring in more experts in the value chains who can support more outlying smallholders. This money will help the company achieve good results,” he explained.

The “AgriPitch” competition was held within the framework of the 4th African Youth Agripreneurs Forum (AYAF, one of the most promising platforms for youth in agricultural start-ups), organized by the African Development Bank . This forum started on November 3 with weekly webinars and ended with the AgriPitch awards ceremony.

"The African Development Bank 's ENABLE Youth program aims to empower young people at every stage of the agrifood value chain by leveraging new and innovative skills, technologies and financing approaches, to empower them to create viable and profitable SMEs”, explained Edson Mpyisi, coordinator of the ENABLE Youth program and manager of the competition.

In Africa, SMEs, which represent 90% of businesses and 70% of employment, are the engines of economic growth. “With AgriPitch, the Bank intends to support ambitious, creative, tech-savvy and entrepreneurial young people, aiming to build profitable SMEs for a prosperous and inclusive Africa,” added Edson Mpyisi.

In collaboration with partners, including UN-Women, the African Leaders Nutrition Initiative, and AFAWA (Initiative to Advance Women's Access to Finance in Africa), the Prize Winners and Finalists of the 2020 competition, organized by the AYAF Forum and AgriPitch, were awarded to the following participants:

Mature start-ups

* Winner: Femi Aiki, Foodlocker, Nigeria ($40,000)

* Finalist: Noel N'Guessan, Lono, Ivory Coast ($20,000)

Businesses run by women

* Winner: Elizabeth Gikebe, Mhogo Foods, Kenya ($20,000)

* Finalist: Oluwaseun Sangoleye, Baby Grubz, Nigeria ($10,000)

start-up

* Winner: Ikenna Nzewi, Releaf, Nigeria ($20,000)

* Finalist: David Matsiko, Bringo Fresh, Uganda ($10,000)

In addition to prizes going to basic funding for their business and the benefit of mentorship, AgriPitch winners will be invited to participate in AYAF's online "DealRoom", which connects African businesses led by open youth to international investors.

To access the latest AYAF webinar and AgriPitch awards show:   https://www.youtube.com/watch?v=838h796vlDc&feature=youtu.be