The African Development Bank (AfDB) will host an online seminar to encourage young African “agripreneurs” to participate in the bank’s AgriPitch competition.
The continent’s finest agripreneurs compete on the AgriPitch platform to win a share of $140,000 in seed money and a spot in the competition’s business development boot camp.
The 2022 AgriPitch competition will assist participants in finding novel approaches and formulating concepts that strengthen Africa’s food systems, lessen the effects of gender marginalization, and improve sustainable nutrition throughout the continent.
The AgriPitch competition is held annually and is a key activity of the AfDB’s Enable Youth Programme, providing technical capacity-building skills and facilitating youth’s access to financing.
The webinar, scheduled for Monday the 17th of October at 11 a.m. UTC, will present the AgriPitch 2022 competition which is intended to instil a culture of innovation and nurturing for technology-led agribusiness innovations.
During the seminar, AfDB representatives will explain the application process, answer applicants’ questions, and introduce AgriPitch 2022 competition partners.
AgriPitch 2022 operates under the theme, The Role of African Youth within African Food Systems.
Commenting on the competition, the AfDB’s Chief Financial Economist and Enable Youth Coordinator, Edson Mpyisi, said:
“With the increased effects of climate change and the resultant impact on food systems within the continent, this competition serves to showcase timely and scalable youth-led opportunities.”
He added that by enhancing their business bankability and ensuring that they are “pitch ready” for potential investors, the AgriPitch Competition seeks to empower African agripreneurs.
The AfDB’s Employment for Youth in Africa Strategy intends to improve human capital, increase inclusive employment and entrepreneurship, and establish long-lasting labour market connections.
This year, those who advance in the competition will receive coaching and mentoring in an engaging, customized virtual two-week Bootcamp.
“The Bank believes that entrepreneurship is a pathway to a secure job and viable socio-economic growth that is inclusive and promotes sustainable development. Therefore, Africa’s emerging vibrant wave of entrepreneurs must be supported and nurtured for the continent’s prosperity,” explained Damian Ihedioha, AfDB’s Division Manager for Agri-business.
Semifinalists for AgriPitch 2022 will also present their business plans to potential investors in the AgriPitch deal room, get the opportunity to work one-on-one with a mentor, and have access to digital tools beyond the competition.
More Details about AgriPitch
- The AgriPitch competition is open to African youths between the ages of 18 and 35 who work in the agriculture value chain.
- AgriPitch 2022 has three competition categories: Early Startups (0-3 years in operation), Mature Startups (3 years or more in operation), and Women-Empowered Businesses (firms with at least 51% female ownership or founded by a woman).
- Register here to attend the AgriPitch 2022 informational webinar and virtual launch on Monday, October 17 at 11 a.m. UTC:
- Learn more and enter the 2022 AgriPitch competition by visiting the competition page here