Canadian High Commissioner Christopher Thornley & CEO of MBC Africa Anna Samake
Approximately 75% of West Africans rely on agriculture for their livelihoods. However, the growth potential of agricultural SMEs is often hindered by the lack of access to capital and managerial/technical capacity. Because small to medium sized enterprises (SMEs) play a crucial role along agricultural value chains, MBC Africa hosted a pitch competition as part of its commitment to strengthening the local ecosystem through training and providing opportunities to funding.
MBC Africa is a collaborative initiative between Lundin Foundation and Engineers without Borders Canada and funded by Global Affairs Canada through the West Africa Technical Assistance Facility (WATAF).
MBC Africa also partnered the Aspen Network of Development Entrepreneurs (ANDE) for this event. The event took place on March 17, 2016 at the Oak Plaza hotel.
The competition featured ten exceptional businesses and entrepreneurs from across Ghana. The one-day pitch session which had a panel of judges that included impact investors, capacity development providers, and incubators and accelerators showcased some of the most promising agribusiness entrepreneurs supported by their program. This also served as an opportunity for stakeholders from across West Africa to share ideas and practices regarding agribusiness growth.
In an interview with the CEO of MBC Africa, Anna Samake, she expressed her excitement about how their training programs, coaching, and youth fellowships had reached over seventy (70) agribusinesses in six (6) regions in Ghana, out of which ten (10) were selected to pitch their businesses to investors.
In a speech given by the Canadian High Commissioner H.E. Christopher Thornley, he stressed heavily on developmental projects done by the Canadian government in Ghana.
He said “Ghana was the first country in the world where Canada had a development program and we are proud to partner with MBC Africa to accelerate agribusiness growth in West Africa.”
Other VIP’s who graced the occasion include Randall Kempner, Executive Director of the Aspen Network for Development Entrepreneurs (ANDE); Godfrey Mwindaare, West Africa Director of Acumen; and Karri Goeldner Byrne, Country Director of Technoserve Ghana.
It was a pleasure to know some guests had travelled from North America and Europe to Accra purposely for this event.
Investment organizations such as the Venture Capital Trust Fund (VCTF), Injaro Agricultural Capital Holdings, and the Global Impact Investors Network (GIIN) were present as well.
With the aim to build a strong agribusiness sector across Africa that will contribute to alleviating poverty, reduce food insecurity, and generate employment in rural areas, MBC Africa seeks to equip African entrepreneurs in the agricultural sector with the right business solutions and support services they need to build competitive and sustainable businesses.
They provide small to medium-sized agribusiness companies with access to business development, management training and coaching, technical assistance, advisory services, and connections to relevant investors.
At the end of the competition, the winning business Agro Africa Limited went home with an investment opportunity from MBC Africa’s dedicated SME fund.
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