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AgriPitch Competition Winners at the African Youth Agripreneurs Forum Emerge

July 29, 2019

A veteran exporter of Kenyan fresh fruits and vegetables and a young South African farmer specializing in the design, provision, and management of indoor and outdoor hydroponic systems, were the winners of this year’s youth AgriPitch competition, organized by African Development Bank in partnership with the Western Cape Government in South Africa.

The event which is the 2019 youth AgriPitch Competition themed “Climate Smart Agriculture: Business and Employment Opportunities for Africa’s Youth” took place in Cape Town, South Africa from 24th to 28th July.

Kenyan Alex Muli, CEO, and Co-Founder of Goshen Farm won $25,000 for best agribusiness in the mature start-up category, while Paul Sheppard, from South Africa, Co-Founder of Future Farms, took the $10,000 prize for the early start-up category.

“It was a great event. I met many pioneers in the various agri-tech spaces with many potential and exciting projects, with the renewed hope of access to finance models coming to the fore. The prize money will help our company to upscale to the size we want to grow to, as well as meeting potential investors and learning more about the industry,” said Sheppard.

Muli, who co-founded Goshen farms with his mother in 2011, said it was exciting to be shortlisted as agripreneur in the Mature Startups category. “The boot camp was a great learning experience for me and helped me to know how to better tell the story about my business. I was humbled to meet fellow agripeneurs from other African countries who are doing great stuff out there hence rewriting our continent’s story, a story of hope, transformation, and sustainability by young Africans for Africa,“ he said.

Over 400 agribusiness proposals from across the continent participated in the AYAF competition, which culminated in an award gala dinner, where six winners from the two categories received a total of U$ 74,000.

This AgriPitch Competition was part of a larger forum, the African Youth Agripreneurs Forum (AYAF) an annual forum of the African Development Bank’s flagship, Enable Youth Program, which focuses on youth employment and food insecurity.

“At the African Development Bank, we believe that the future of the continent’s youth lies in more rapid and inclusive economic growth which creates quality jobs. This is why the Bank has developed a number of key programs, such as Enable Youth and the Jobs for Youth in Africa Strategy. To date, the Bank has committed over $350 million to Enable Youth investments in 12 countries on the continent, “said Dr. Edward Mabaya, Manager, Agribusiness Development Division at the African Development Bank.

The forum provided a platform for youth agripreneurs and key stakeholders to brainstorm with experts, business leaders, investors and policymakers on issues that affect youth employment and key solutions to addressing these.

It also served as a call to action to support innovative agriculture growth through intense engagement and mentorship for small and medium enterprises and emphasized that with greater support and opportunities to set up their agribusiness enterprise, youth can become the driving force of Africa’s agriculture transformation.

Sponsors of the 2019 AgriPitch Competition and African Youth Agripreneurs Forum include the Bank’s Youth Entrepreneurship and Innovation Multi-Donor Trust Fund (funded by The Netherlands, Demark, Italy, Sweden, and Norway); the Western Cape Government’s Department of Agriculture; The Korea-Africa Economic Cooperation Trust Fund; and The Africa Climate Change Fund.

“We strive to disrupt the African Agricultural ecosystem the way we do best by creating resilient markets for our agricultural produce. We will be there soon,” Muli said.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Facebook: https://web.facebook.com/Afrikanheroes/

Ethiopia backs Africa Hotel Investment Forum (AHIF)

July 26, 2019

Prominent figures from Ethiopia’s public and private sectors have spoken out publicly to welcome the return to Addis Ababa of the Africa Hotel Investment Forum (AHIF) which is the premier tourism and hotel investment conference in Africa, and to encourage others to attend.

AHIF attracts many prominent international hotel owners, investors, financiers, management companies and their advisers. It will return to the Sheraton Hotel, Addis Ababa in the last week of September 23-25, 2019. AHIF was previously held in Ethiopia’s capital city in 2014 and 2015.

According to an independent study by Grant Thornton and the international tourism advisory expert, Martin Jansen van Vuuren, of Futureneer Advisors, the event is forecast to be worth $millions to Ethiopia’s economy and to facilitate the investment of $billions in hospitality projects across Africa.

In 2018, AHIF facilitated around $2.8 billion of investment in the hospitality sector and between 2011 and 2018, $6.2 billion. Abebe Abebayehu, Commissioner, Ethiopian Investment Commission, said: “We are glad to support this prestigious event.

AHIF attracts the highest caliber group of business leaders in the hospitality industry in Africa. By taking part, we will be able to get a much deeper understanding of what investors need. That is particularly important to us in the context of the government’s focus on tourism as a strategic pillar of the economy. By encouraging more investment in hospitality projects, we will create productive employment for our young population and earn valuable hard currency.”

One of the most important roles played by AHIF is to facilitate networking between delegates. Many investors and developers are keen to find new sources of finance, expert advisers and importantly, local partners.

One Ethiopian businessman, Neway Berhanu, Managing Director, Calibra Hospitality Group, has benefitted substantially from this. He says: “Calibra Hospitality Group’s success in becoming the leading consulting company in Ethiopia has been greatly helped by being an active participant in the Africa Hotel Investment Forum, since 2011.

Thanks to Bench Events, we are now well connected, having established very good relationships with all the major international hotel brands. That has enabled us to conclude close to 25 International transactions, bringing business to Ethiopia. I would encourage the business community and all stakeholders in the hospitality sector to attend.”

The promotion of tourism is another critical issue for many African countries. For Ethiopia, it is underlined by a report from the World Travel & Tourism Council (WTTC), which states that Travel & Tourism represents 61% of Ethiopia’s exports and it expects the industry to expand by a whopping 48.6% in 2019.

A rapidly growing national airline, a new hub airport, relaxed visa regulations, and the country being the political center of Africa, by virtue of hosting the headquarters of the African Union, are drivers of these impressive numbers. Ms. Lensa Mekonnen, CEO, Tourism Ethiopia said: “AHIF will provide an excellent opportunity to welcome the cream of the hotel industry to Ethiopia.

Our aim is to show them our assets and thereby attract more international-standard hotel and resort brands to establish themselves close to our historical, natural and cultural sites, in addition to the capital city. By promoting regionally balanced development, we will attract more tourists to Ethiopia and encourage them to stay longer.”

Matthew Weihs, Managing Director, Bench Events, concluded: “Ethiopia is a center for political meetings in Africa and a fast-growing transport hub. That already makes it attractive to hotel investors. The government’s declared interest in prioritizing tourism will further increase the attractiveness, along with its renewed enthusiasm for collaboration with the business community.

When AHIF first came to Ethiopia, there were three internationally-branded Hotels, the Hilton, the Radisson, and the Sheraton. Now there is a Best Western, a Golden Tulip, a Hyatt Regency, Marriott apartments and a Ramada; plus, another 27 hotels in the pipeline!”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Facebook: https://web.facebook.com/Afrikanheroes/

Forbes Woman Africa Announces First Regional Forum in Rwanda

July 24, 2019

FORBES WOMAN AFRICA is excited to announce the inaugural FORBES WOMAN AFRICA Regional Forum in association with Mastercard, a Leading Women Summit initiative, to be held in Kigali, Rwanda, on 9 August 2019.

Coinciding with National Women’s Day in South Africa, the FORBES WOMAN AFRICA Regional Forum in association with Mastercard will bring together 250 powerful women from across East Africa and will follow in the footsteps of the bigger annual FORBES WOMAN AFRICA Leading Women Summit, bringing a slice of this sought-after gathering to East Africa.

“The FORBES WOMAN AFRICA Regional Forum will echo the same fervor and sentiment as the flagship Leading Women Summit but in hosting it for the first time in East Africa, what I am very keen on is coming face-to-face with the women who are at the top of their game in this region – the guests and speakers on the day will be luminaries you don’t want to miss meeting,” says Renuka Methil, Managing Editor of FORBES AFRICA and FORBES WOMAN AFRICA.

As an initiative by the FORBES WOMAN AFRICA Leading Women Summit, the full-day, not-to-be-missed event, which will debut in the East African nation, is to be hosted at the Kigali Serena Hotel and will feature some of the exciting content FORBES WOMAN AFRICA has consistently won awards for.

Beatrice Cornacchia, Senior Vice President, Marketing and Communications, Mastercard Middle East and Africa said: “African women are a force for economic growth and social change, and are playing a critical role in addressing the development challenges faced across the continent.

As cultural and social dynamics shift, we are beginning to see an environment where women can flourish, and demonstrate the value they offer to every industry and sector in the economy. We are proud to partner with Forbes Africa and believe that this initiative will help to create opportunities for women to reach their greatest potential.”

The 2019 FORBES WOMAN AFRICA Leading Women Summit on March 8 saw Supermodel, Philanthropist, Activist and Cultural Innovator Naomi Campbell headline the Durban event, alongside some of the most notable names in business, sports, politics, and the arts.

Further details and speaker profiles will soon be revealed in the buildup to the event.

The FORBES WOMAN AFRICA Regional Forum in association with Mastercard will be a by-invitation-only gathering and further information can be obtained by following @LWSummit on Twitter.

The FORBES WOMAN AFRICA Regional Forum in association with Mastercard will be managed and produced by ABN Event Productions.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Facebook: https://web.facebook.com/Afrikanheroes/

Nigeria expected to be a major player at 2019 Africa Investment Forum

July 13, 2019

Nigeria is expected to feature significantly in the 2019 Africa Investment Forum scheduled to take place in Johannesburg, South Africa this November, business leaders and government heard at a roadshow event held in Abuja over the week.

Following the hugely successful inaugural edition held last year, the African Development Bank’s innovative investment marketplace set up to accelerate investment into the continent will convene for its second meeting from 11-13 November.

The Nigerian roadshow, held 9th July, was organized by the Nigeria Country Department of the Bank in collaboration with the Africa Finance Corporation. It was attended by key industry players, including, policy makers and representatives of state governments.

Speaking at the event, Ekiti State Governor Dr. Kayode Fayemi emphasized the role of private capital to deliver the infrastructure required to grow Nigeria’s economy and provide jobs for millions of young Nigerians.

“With the support of the African Development Bank and the African Finance Corporation, and the quality of investors that attended the inaugural edition in South Africa last year, I am confident that if we put our best foot forward, we will receive significant funding commitment for investments across Nigeria and the continent,’’ Fayemi said.

Senior Bank Director for the Nigeria Country Office Ebrima Faal, highlighted Nigeria’s prominence during the 2018 Forum. Nigeria was very visible. Out of the 63 boardroom deals presented at the Forum, Nigeria had 5 deals worth $7 Billion. This represents 14.9% of the total deals accounted for on the continent, and 43% of the deals accounted for the region.

“The African Development Bank and its partners are excited to present you with … the only platform that allows you to instantly pitch and close monumental deals on the spot. We encourage you to engage early and wholesomely to be a part of re-writing Africa’s economic history,’’ he urged.

According to Africa Finance Corporation Senior Director Taiwo Adeniji, “building on the success recorded in 2018, it is expected that Nigeria will be a major participant at the 2019 Forum. The Africa Finance Corporation is keen to support Nigerian businesses across sectors to ensure effective project implementation to boost economic development.’’

The Nigeria roadshow included highlights and key lessons from the 2018 forum, project preparation guidelines as well as presentations on selected pipelines.

“We are now seeing positive momentum in building transparent and durable institutions to anchor the political economy, promote and support the development of the private sector, in order to increase the pace, depth, and spread of economic growth,’’ Faal said.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Facebook: https://web.facebook.com/Afrikanheroes/

Africa Hotel Investment Forum (AHIF) will generate millions of Dollars for Addis Ababa and billions for Africa

July 4, 2019

Independent report reveals the economic impact of Africa’s top hotel conference

An independent assessment by the international tourism advisory expert, Martin Jansen van Vuuren, a partner at Futureneer Advisors, has quantified the significant economic benefits to host countries of the influential Africa Hotel Investment Forum (AHIF).

He reveals that when AHIF returns to Addis Ababa at the end of September, it could bring over one and a half million dollars in direct benefit to the local economy, an additional two million dollars in indirect benefit and over a quarter a million in tax to the Ethiopian host government if spending at the 2019 event is a mere 10% more than when it was held in the city in 2014. This assessment is based on recent research of attendees at AHIF and a study on the economic impact of previous editions of the conference.

Looking back over the history of AHIF since the first conference in Casablanca in 2011, the event has made a total impact on the local host economies of $21.24 million of which $8.64 million in direct and $12.6 is indirect. In doing so, it has helped to create or sustain over 6,000 jobs and generate $1.4m in tax to the governments of the host countries. But that’s not all, the primary purpose of AHIF is to facilitate dialogue and ultimately deal-making between the top businesspeople present.

Two surveys of delegates attending AHIF events between 2011 and 2018 (segmented by delegates that did or did not conclude a deal) indicated an average value of $12.2 million per transaction in 2018 and $4.6 million over the 8-year period. On the assumption that these findings, which were based on a sample of delegates, were representative of the whole group of attendees, AHIF facilitated around $2.8 billion of investment in the hospitality sector across Africa in 2018 and $6.2 billion between 2011 and 2018.

Martin Jansen van Vuuren, said: “One important measure of AHIF’s success is the high-level of the delegates it attracts – the attending CEO’s and MD’s do not only spend more than average by staying in the best hotels but much more importantly, they are people with the ability to make decisions, including whether or not to invest in a destination – and that’s reflected in the value of deals done.”

Martin’s report also highlights intangible benefits that flow from hosting AHIF. These include increased awareness of the destination’s conference and tourism offering, improved credentials, which will assist bidding for future events and employment opportunities and skills transfer for workers in local supplier companies.

Matthew Weihs, Managing Director of Bench Events, which organises AHIF, said: “It’s exciting and gratifying to see how much the conference adds to the destinations we visit and to the hospitality sector across Africa. At this year’s event, I am aware of more serious investors coming with more money behind them than ever before, so it feels to me that the hospitality industry in Africa is rapidly becoming more mature and sophisticated.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Facebook: https://web.facebook.com/Afrikanheroes/

Africa pledges to deliver Blue Economy at Africa Blue Economy Forum (ABEF) 2019

July 1, 2019

International and Pan-African organizations agree to collaborate on initiatives following successful ABEF2019
The prospect of a fully sustainable Blue Economy for Africa gathered significant momentum following the second Africa Blue Economy Forum (ABEF2019) (www.ABEF2019.com) held in Tunis on 25-26 June.

Fishing, aquaculture, shipping, ports, energy, and finance industries all came under the spotlight at ABEF2019, which drew in Government ministers, business leaders, international investors, academics and environmental organizations from across the globe.

The need for direct action to deliver the environmental, economic and social benefits for Africa, and particularly its coastal nations given 90 percent of Africa’s trade is conducted by sea, was stressed during the two days of insight. Speakers at ABEF2019 agreed on the urgent need for better cooperation between the ocean stakeholders, better governance and law enforcement.

Regional, national and local strategies are required to build a long-term plan and develop partnerships that are beyond short-term projects. Engaging with new technologies and innovative financing mechanisms are also key to shaping a sustainable Blue Economy in Africa.

Leila Ben Hassen, ABEF founder and CEO of Blue Jay Communication, which organized the forum, said: “We can no longer just dip our toe in the water, we must dive in and be decisive in making and delivering change that will serve Africa for many years to come. It is no longer business as usual. Africa must have a sustainable Blue Business plan which will have a positive impact on the environment, on the economy and on society.”

A sustainable Blue Business plan will accelerate Africa’s transformation, create jobs, sustain livelihoods and empower communities while offering impactful climate change measures.

This was acknowledged at ABEF2019 across a range of panels with topics that explored how governments and private sectors can collaborate; tackling ocean pollution; innovative funding solutions; enhanced food security and sustainable growth for the fishing industry; sustainable ocean energy; how to engage more women to work in the maritime value chains and the opportunities to embrace the youth generation in the Blue Economy.

Key outcomes from ABEF2019 saw the World Ocean Council, Tunisian Maritime Cluster, and SETAP Tunisia signed a Memorandum of Understanding to create a platform to connect, share information, scientific research and technologies between the Mediterranean and the coastal African countries. In addition, WIMA Africa (Women in Maritime Association) launched the Tunisia Chapter with the objective of empowering women and reinforcing collaborations between Tunisian and African women in the maritime industry.

The event attracted a significant number of high-level speakers, who can drive change and opinions, including government ministers HE Samir Taieb, Minister of Agriculture, Hydraulic Resources and Fisheries, Republic of Tunisia; HE Mokhtar Hammami, Minister of Environment, Republic of Tunisia; HE Elizabeth Naa Afoley Quaye, Minister of Fisheries and Aquaculture, Republic of Ghana and HE Kwaku Ofori Asiamah, Minister of Transport, Republic of Ghana.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.