Econet, Yara unveil new initiative for African agri-food entrepreneurs

A pan-African telecommunications, media and technology group, Econet, and global crop nutrition leader, Yara International ASA, have launched ‘Generation Africa’ to inspire young African entrepreneurs to join the agri-food sector for its viable business opportunities.

Econet said on Thursday that the partnership initiative would reach thousands of young people through its ‘GoGettaz’ competition, which would award $100,000 prize to two exceptional agri-food businesss.

Africana Entrepreneur gathered that it would also support 12 budding young entrepreneurs to prosper their ventures.

The President and Chief Executive Officer, Yara, Svein Tore Holsether, said, “Africa’s agri-food sector presents a $1tn 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.”

Africa, with about 600 million hectares of arable land, imports food for $35bn a year – a figure that is estimated to rise to $100bn by 2025, while over 60 per cent of young people across Africa are unemployed, according to a statement.

It said innovative entrepreneurship could retain more value on the continent, helping to counter-balance rural-urban migration, professionalise farming, generate employment and provide affordable, healthy food to Africa’s growing population.

“Africa is full of entrepreneurs. We have more entrepreneurs than any other continent. But where the average age of an entrepreneur is 19, the average age of a farmer is 60! The time is now for Africa’s entrepreneurs to grow their businesses and embrace the incredible opportunities that agri-food businesses offer. If we do not, someone else will.” Econet’s founder and Group Chairman, Strive Masiyiwa, said.

The GoGettaz competition is open to African agri-food entrepreneurs from 18 to 35 years.

Masiyiwa added, “Never has there been a more powerful moment in history – nor a more digitally-capable generation – to leapfrog Africa’s agri-food sector from a net importer of food to feeding the planet.”