AFDB rewards winners of AgriPitch competition with $120,000

The African Development Bank (AfDB) – AgriPitch Competition 2020 has come to an end, and winners have been awarded prizes worth $120,000.

The African Development Bank (AfDB) has awarded winners of its AgriPitch competition with cash prizes worth $120,000. This is according to a statement issued by the bank and made public by the News Agency of Nigeria.

The AgriPitch competition offers young agripreneurs in Africa the opportunity to pitch their agribusiness proposals to a panel of experts and investors who select winners in “early start-up,” “mature start-up,” and “women-empowered businesses” categories.

The competition was part of the bank’s fourth African Youth Agripreneurs Forum (AYAF). It was launched on November 3, and started with a weekly webinar.

Some of the major highlights of the competition are:

  • The AgriPitch competition, which was held virtually, saw more than 2,500 applications and 605 proposals from 30 countries shortlisted down to 25 finalists from 12 countries.
  • Some of the key partners of the competition include UN Women, African Leaders for Nutrition, and the Affirmative Finance Action for Women in Africa initiative (AFAWA).
  • According to the bank, the founder of a cassava processing business in Kenya, a co-founder of a novel food processing technology start-up, and the owner of a smallholder farmer food procurement company in Nigeria, won the top cash prizes.
  • Winner for the mature start-up category, Femi Aiki of Foodlocker, Nigeria, was awarded $40,000, while runner-up Noel N’guessan of Lono, Côte d’Ivoire got $20,000.
  • For the Women-empowered businesses, the winner, Elizabeth Gikebe of Mhogo Foods, Kenya won $20,000, while runner-up Oluwaseun Sangoleye of Baby Grubz, Nigeria won $10,000.
  • For the early start-ups, Ikenna Nzewi of Releaf, Nigeria won $20,000, and David Matsiko of Bringo Fresh, Uganda won 10,000 dollars as runner-up.

Another beneficiary and winner of the earlier start-up category, Nzewi, who represented Releaf, a food pre-processing technology company, said the company planned to save the $20,000 competition prize for future investment.

Chidi Emenike, Nairametrics.

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