Agri-business competition launched, Sh10m up for grabs

Pan-African telecommunications, media and technology group, Econet, and global crop nutrition leader, Yara International ASA, have launched a competition meant to lure more youth into agribusiness.

The partnership initiative seeks to inspire young African entrepreneurs to join the agri-food sector. The competition will award Sh10 million in prize money to two exceptional business ventures in the agri-food sector.

“Africa’s agri-food sector presents a Sh100 trillion of business opportunities 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 young entrepreneurs launch, grow and mature agri-food businesses that will drive job creation, inclusive growth, and better food supply,” said Svein Tore Holsether, President and CEO of Yara.

Africa has about 600 million hectares of arable land, yet it imports food worth Sh3.5 trillion a year – a figure that is estimated to rise to Sh10 trillion billion by 2025.

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At the same time, over 60 per cent of young people across Africa are unemployed. Budding ventures can be submitted via www.GenAfrica.org by July 15, 2019.