For entrepreneurs operating in agriculture, energy/infrastructure, financial services, health or intra-trade sectors, another competition with a cash prize and a one-year marketing campaign support has opened.
The business competition was launched in
the framework of the 2015 edition of the Africa Finance & Investment
Forum (AFIF) which will hold in Cape Town. In collaboration with the
European Investment Bank (EIB) between November 24 and 26, 2015.
According to Idit Miller, vice president
and managing director of Belgium-based European Marketing Research
Commission (EMRC), the competition and indeed the Africa Finance &
Investment Forum is to encourage sustainable development, economic
growth, innovation and entrepreneurship in Africa. The deadline for
project submission is October 12, this year.
“EMRC will present the ‘AFIF
Entrepreneurship Award 2015’, providing an African existing small-medium
business with a financial contribution and exposure/visibility for a
project. The award winner will receive a US$ 5.000,00 cash prize, year
long media promotion support in and out of Africa, including promotion
throughout EMRC’s global network and partners, free participation in the
AFIF 2015, including the training conference, and travel expenses to
the AFIF 2015 covered by EMRC,” stated Miller.
She further explained that this AFIF –
Project Incubator Award 2015 is limited to existing small and medium
businesses based in Africa. These SMEs are expected to have an annual
turnover between 500.000 Euros and 15 million Euros. Though there are no
gender or age requirements, the business owners must come from and be
based in Africa.
The contest is however not opened to
greenfield business – the project must have been ongoing for at least
two years and the summary financial statements of the last two years
must be provided in the application form.
Explaining further, Miller said the
selection criteria include a selection committee that will evaluate
innovation, potential for growth, financial sustainability, impact on
job creation, social and economic impact, impact on the environment,
experience of the managers and project presentation during the AFIF 2015
forum. “The AFIF Entrepreneurship Award recognises innovative
African-based businesses that are transforming their communities and
have the potential for more growth,” Miller stated.
AFIF itself is a forum which offers
participants an international platform, input and feedback from leading
experts, as well as peer networking.
OLUYINKA ALAWODE
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