Econet, Yara partner on $100,000 youth entrepreneurship competition
As part of efforts to inspire young Africans to become agri-food entrepreneurs, Econet in collaboration with Yara, a global crop nutrition firm have launched an entrepreneurship competition, ‘Generation Africa’, a partnership initiative targeted at bringing the dynamism of youth entrepreneurship to Africa’s agri-food sector, with its $100,000 grant.
Generation Africa will reach thousands of young people through its “GoGettaz” competition, which will award $100,000 in prize money to two exceptional business ventures in the agri-food sector. The partnership initiative will support a cohort of 12 budding young agri-food entrepreneurs to scale and prosper their ventures.
Speaking on the partnership, President and Chief Executive Officer, Yara, Svein Tore Holsether, said: “Africa’s agri-food sector presents a $ 1-trillion business opportunity by 2030, especially when connected with the current technology revolution. Across Africa’s agri-food chain, innovations can be found in how we grow, harvest, process, store, transport, package, sell and consume food.
“Together with the pioneers of Africa’s next generation, we want to seize these opportunities. Generation Africa will help youth entrepreneurs launch, grow and mature agri-food businesses that will drive job creation, inclusive growth, and better food supply,” he added.
Besides, findings have showed that Africa has about 600 million hectares of arable land, yet it imports food for $35 billion a year – a figure that is estimated to rise to $100 billion by 2025. At the same time, over 60 per cent of young people across Africa are unemployed. Innovative entrepreneurship could retain more value on the continent, helping to counterbalance rural-urban migration, professionalise farming, generate employment and provide affordable, healthy food to Africa’s growing population.
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