Six small and medium enterprises (SMEs) have been named finalists in the Africa Finance and Investment Forum (AFIF) Entrepreneurship Award 2017, with one winner to take home a US$10,000 cash prize.
Disrupt Africa reported in November applications opened for the AFIF Entrepreneurship Award, which takes place at the annual AFIF event. The forum aims to strengthen the private sector in Africa, encourage entrepreneurship and attract investment to the African continent.
The Entrepreneurship Award has been held at AFIF since 2008 – with the six finalists presenting their businesses or projects at the event. The Award seeks to encourage and reward innovation and entrepreneurship on the continent.
The six finalists hail from Kenya (two), Tanzania (two), Ethiopia, and Nigeria, were selected from among 51 entrants from across Africa.
Ethiopia’s Aybar Engineering has developed a technology that prevents excess water from suffocating crops and stores it for later use. The company says there is no other similar technology in the market.
First Atlantic Semiconductors & Microelectronics, Nigeria’s entrant, has developed the “Zenvus”- an intelligent solution to collect soil data using a system of electronic sensors.
The remaining four companies – R n G Company Limited, and EuroFresh Exotics, from Kenya; Kimolo Super Rice, and Eco Act, from Tanzania – are all agricultural businesses.
The winner will be announced at the Forum, to be held between February 13 and 16 in Nairobi. They will take home US$10,000 in prize money, and receive year-long media promotion, and support in and out of Africa.