Kenyan women and youth in agribusiness are set to receive up to $100k each in funding to upscale their business, from FoodTech Africa, at a time when the coronavirus pandemic has slowed down the country’s economic activities with thousands being rendered jobless.
“We believe Kenya and East Africa are at a critical time and that innovation and young entrepreneurs have a big role to play in creating resilient and local food systems,” said, CEO and Co-Founder of Pangea Accelerator Jonas Tesfu.
Here Is What You Need To Know
- The investment through the FoodTech Africa accelerator is aimed at meeting the growing demand and challenge of food security in the country.
- A report by the Kenya Food Security 2019 Steering Group revealed that approximately 1.3 million people in Kenya are currently facing crisis or worse levels of acute food insecurity, which has been further exacerbated by Covid-19.
- Selected businesses who will be accepted into the program are looking at a 10-week intensive training on business coaching and mentorship, B2B sales opportunities as well as the opportunity to interact with investors with leading high potential companies getting investment of up to USD 100,000.
- The FoodTech Africa accelerator is a project commissioned by GIZ Make-IT in Africa, a project on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) and implemented by Strathmore University’s business incubator and Pangea Accelerator, a Norwegian based accelerator and an investment platform operating in East Africa that matches African startups with investors, foundations and development agencies to reach a global scale.
Applications are open here until August 21.
“GetFundedAfrica is a technology-based, business information platform operated by Afriscaper Research & Consulting Limited with a mission to reduce barriers to funding for African businesses. GFA matches investor ready, African & African-Diaspora owned companies with global investors, leveraging market research, industry data and news aggregation“
In this episode of GFA-Attract, GetFundedAfrica’s Co-Founder, Debo Omololu discusses with Yassine Oussaifi, a Tunis-based Venture Capital Partner at AfricInvest Group. AfricInvest has $1.5 billion in funds under management and is one of Africa’s largest venture capital firms. Yassine loves water sports and basketball and tries to relax at beach locations.