This week’s issue of The Farm CEO features a funding opportunity for African business owners and a report about how TechnoServe’s STRYDE program is helping more young Africans connect with agriculture.
1. Funding available for innovative business ideas
African entrepreneurs have the opportunity to receive funding for their business ideas by entering one of the AECF’s competitions.
What is the AECF?
The Africa Enterprise Challenge Fund (AECF) is a US$100m private sector fund, backed by some of the biggest names in development finance and hosted by the Alliance for a Green Revolution in Africa (AGRA). Our aim is to encourage private sector companies to compete for investment support for their new and innovative business ideas.
The AECF is a competition, open only to for-profit private companies which are starting, or intend to start, new ventures in specific fields. Companies are invited to submit proposals outlining their business idea or concept for funding.
Which ideas does the AECF support?
2. THE NEXT GENERATION IN AFRICAN AGRICULTURE
A young Kenyan farming entrepreneur demonstrates why youth are critical to transforming agriculture and ensuring food security in Africa.
Nickson Muthuri, 24, is having a banner year.
Today, he is graduating from Egerton University in Njoro, Kenya, with a bachelor’s degree in economics and sociology.
Last week, Nickson traveled to the United States for the first time, speaking about youth in African agriculture at events with Harvard University’s PAPSAC Food Policy Group, the Partnership to Cut Hunger and Poverty in Africa, and the U.S. Agency for International Development.
In September, Nickson beat out more than 800 young entrepreneurs from 18 countries to win first prize in the 2014 Agribiz4Africa competition. Sponsored by Syngenta and Enactus Kenya, Agribiz4Africa aims to raise awareness about careers in agriculture among Africa’s youth while promoting new business opportunities in crop value chains. Nickson’s business idea for cassava value addition won $10,000 in startup capital.
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