A Nigerian and Kenyan national were each selected as the two winners, out 12 people, for the US$200,000 Kwesé Inc Goggettaz entrepreneurship competition held at Strathmore University in Nairobi, Kenya.
Ezinne Uko, the Nigerian, and Peter Wachira, the Kenyan, both walked away with a US$100,000 investment package, a similar amount in a credit facility from Equity Bank Kenya, and a two-week mentorship at Kwesé’s headquarters in South Africa with Strive Masiyiwa, founder and Executive Chairman of Econet Global.
The 10 runners-up of which a Ghanaian representative is inclusive, received US$10,000 investment each in their respective ventures.
The two emerged winners following two days of intense training sessions at the Nairobi Garage with experienced mentors in business, innovation and entrepreneurship including Sebastian Wafula (The Wafula Corporation Limited), Patricia Jumi (Growth Africa), Grant Brooke (Twiga Foods), Peter Park (Connect Health) and Jussi Hinkkanen (Fuzu)
The finalists also had pre-finale pitches and received feedback on how to better present their businesses or ventures from Esther Ndeti (Executive Director East Africa Private Equity & Venture Capital Association), Julian Kyula (Founder MODE) and Kevin Mulei (Founder and CEO Mo Sound Events) in the lead up to the grand finale.
Strive Masiyiwa, founder and Executive Chairman of Econet Global, in his keynote address at the awards said the aim of the program is to inspire upcoming entrepreneurs and pave the way for new generation of innovators.
“At our eighth Africa Entrepreneurship Town Hall today, we had hundreds of people from different walks of life, all in the same room, all focused on solutions for the future: top business leaders, government officials, technology experts, academics, students… all thinking about how new technologies can help rather than harm society.
Today is how we build for Africa’s century and end poverty globally. Together we listen, we innovate and we take action — with data and vision, and without delay.” he added.
According to the African Economic Outlook(AEC), entrepreneurship is one of the areas that Africa needs to leverage on in order to curb the rate of unemployment in the region and create more job opportunities for the continent’s growing labour force and accelerate inclusive economic growth.
Africa’s population is estimated to be about 1,273 billion people based on the latest United Nations estimates. Out of this, 29 million youths join the region’s labour force every year according to the African Development Bank but due to the slow rate of employment growth opportunities, most end up being jobless.
Despite the notable improvement in entrepreneurship for some countries, most of the African countries are still lagging behind. It is due to the above underlying factors that propelled serial entrepreneur and philanthropist Strive Masiyiwa, through Kwese, to launch the biggest ever competition dubbed as the Gogettaz, in Africa.
The competition is for ambitious and driven entrepreneurs looking for financial injection and exposures for their business ventures. It seeks to address the issues that face entrepreneurship in Africa and curb the rate of unemployment in the continent.
Kwesé Inc is an exclusive channel of Kwesé TV, designed by entrepreneurs for entrepreneurs, featuring premium content aimed to entertain, educate and inspire entrepreneurs throughout the African continent.
Launched in 2016, with headquarters in Johannesburg, Kwesé TV is Africa’s newest and most dynamic entertainment company, providing viewers across the African continent with 88+ channels of affordable, premium, exclusive, content via Pay TV, Free-to-Air TV and digital.
The two lucky winners’ one male and one female, will further get a two-week mentorship program by Strive Masiyiwa himself in a program known as the “Kwesé Entrepreneur Fellows”.
The 12 finalists come from Kenya, Rwanda, Nigeria, South Africa, Zimbabwe, Ghana and the Democratic Republic of Congo.