Africa Business News: Entrepreneurs. Investments. Banking & Finance. Emerging Markets. Start-Ups
Wednesday, 10 September 2014
Female Entrepreneurs In Africa To Vie For $10,000 Prize In Lagos
VENTURES AFRICA – Female entrepreneurs in Africa will this month have the opportunity of pitching their business ideas to potential mentors and investors in Lagos, Nigeria’s commercial hub.
The first Entrepreneur Showcase organized by social enterprise, She Leads Africa will bring together entrepreneurs selected from a list of nearly 400 applicants from 27 countries, and will vie for prizes, including financial prizes of $10,000 and $5,000 to the winner and runner-up, respectively. Non-financial prizes such as phones and tablets, brand consultation, free office space, access to prominent venture capitalists and angel investors, as well as additional tools needed in order to expand their existing start-ups and achieve their business dreams will also be available for winners.
Co-Founder of She Leads Africa, Yasmin Belo-Osagie expressed excitement about having the finalists for the inaugural She Leads Africa competition.
“These finalists represent some of the best and the brightest entrepreneurial talent in Africa, and we look forward to seeing the outcome of the competition,” she said.
Afua Osei, the Co-Founder of She Leads Africa also spoke on the challenge faced by young persons trying to start a business in Africa, especially young women.
“Access to education, financing, and useful networks are limited, and cultural stereotypes can curtail a woman’s ambition,” Osei adds.
She explained that the social enterprise’s vision is to “provide entrepreneur development, networks and funding for promising female entrepreneurs who have the ambition and drive to be the business leaders of tomorrow, building companies that will become pan-African and global leaders.”
The 10 finalists have the privilege of long period of business consultancy with key figures in the private equity, management consulting, and financial industries for a month, who will mentor the entrepreneurs and help them develop their business plan, market strategy, financial modelling and pitching skills before the showcase.
Osei stressed that Africa had significant potential for wealth, noting noted that “the guidance and mentorship of those that have become proven successes in their fields,” can ensure that this period when Africa is experiencing impressive growth, can be fully exploited to create opportunities in new sectors and for a new generation of Africans.