Regional start-up support platform Growth Africa has admitted over 70 ventures in a new accelerator programme.
GrowthAfrica works with entrepreneurs and companies who - through their businesses - make a significant positive difference to their surroundings and society at large.
The business accelerator is tailored to help ventures scale their profitability as a business and make it investment ready while developing their business and leadership acumen.
“Through this, our entrepreneurs build a thorough understanding of all components of their business venture, internal and external realities, and their inter-dependencies – identifying challenges to growth and using this to develop a comprehensive, implementation-ready growth plan,” the growth hub said in a statement.
The 79 ventures were recruited from a pool of 864 applicants from across five countries including Uganda, Kenya, Ghana, Ethiopia and Zambia.
Africa faces unemployment challenges and is suffering from the high cost of living.
To mitigate these, the population, especially the youth, are moving toward setting up their own businesses to make a living.
The 2021 beneficiaries from Kenya include Havilla Smart Enviros dedicated to recycling and Aquarech Limited providing Internet of Things (IoT) technology to enhance fish farming, M-Shamba as well as Green Pencils Ltd.
Uganda and Ethiopia had representation from Kazire Health Products Ltd Greenworld Energy Technology Plc respectively.
Growth Africa co-founder and executive director Patricia Jumi recently said the programme was kicking off in a special way as the entrepreneurs‘ eagerness to learn and grow has been notable compared to previous cohorts.
„The ventures in this 2022 cohort are promising. They come from five different countries and naturally come with different experiences and expertise,” Jumi added.
“Through their interaction with their peers and programme facilitators, we are optimistic that the experience within this programme will be worthwhile as we move together to address global issues such as sustainability, unemployment, and gender parity.”
Founded in 2002 and headquartered in Kenya, GrowthAfrica is one of the leading accelerators delivering growth stage support for impactful ventures in the region.