Twelve African entrepreneurs were celebrated for their innovative solutions to poverty during the inaugural FINCA Ventures Prize Competition.
Funded by generous donors, the competition awarded a total of $400,000 in grants to support social enterprises across Sub-Saharan Africa.
FINCA Ventures, the investment arm of FINCA International, a leader in global poverty eradication for 40 years, organized the competition.
The initiative aimed to empower social entrepreneurs tackling critical issues in the region, including healthcare access, agricultural development, financial inclusion, and the protection of vulnerable groups.
Winners addressed challenges like improving value for local farmers (Rio Fish), bridging healthcare gaps (Bena Care, CheckUps, OneHealth), and combating the exploitation of female fish traders (Rio Fish).
“We are thrilled to support these inspiring changemakers who are driving positive social impact across Africa,” said a spokesperson for FINCA Ventures.
“Their dedication to improving lives aligns perfectly with FINCA’s mission of eradicating poverty.”
Award Breakdown
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
South African venture capital firm, REdimension Capital, has secured over $10 million for its inaugural fund, the REdimension Real Estate Technology and Sustainability Fund I.
Specialist agricultural investor AgDevCo has announced a $9.5 million mezzanine loan investment in Agventure, a Kenyan farmer-owned business pioneering regenerative agriculture in non-irrigated cereal-based systems.
Anka, an Ivory Coast-based financial technology company, has received $1.7 million in funding from the International Finance Corporation (IFC) to expand its operations.
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