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Call for applications: Value Creation Challenge in Zim

Eight2Five Innovation Hub, in partnership with Old Mutual Zimbabwe and the British Council Zimbabwe, is calling on local creatives and entrepreneurs aged between 18 and 45 to apply for the 2021 edition of the Value Creation Challenge (VCC) project.

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Photo: Shutterstock

By Ano Shumba

20 May 2021

VCC was launched last year to support businesses and startups that provide innovative and sustainable solutions to Zimbabwe’s socio-economic and environmental challenges. The project is aimed at local creatives and entrepreneurs whose startups were formed not less than seven years ago. The call seeks to grow the successful participants’ innovative businesses with the possibility of partnering with Old Mutual Zimbabwe.

VCC will provide seed capital to at least four businesses or startups that make it to the accelerator programme, which is set to begin in July. In addition to the seed capital, the selected participants stand to gain free office space and mentorship in the form of marketing, human resources and capacitation workshops.

Interested local creatives and businesses should apply here(link is external) before 14 June, after which shortlisted applicants will be invited for interviews.

The target for this challenge are participants that fall under the following pillars:

  • Young and funky.
  • Digital content creation.
  • Data analytics.
  • Emerging technology.
  • Climate action.

“Recognising and acknowledging the role young people play in economic and social development is key hence this particular programme is much more streamlined with specific targets in areas or sectors which young people have passion and interest in developing their businesses,” British Council Zimbabwe country director Roland Davies said.

“We encourage female-led businesses to apply, as our cultural relations work aims to bring diverse people together to learn, create and fulfil ambitions. The British Council will continue to nurture creativity, innovation and flexibility by engaging a diversity of perspectives and spot new opportunities to work with partners like Old Mutual to achieve greater reach and impact.”

Old Mutual Zimbabwe group CEO Samuel Matsekete said: “The VCC is not only an opportunity to explore the role that financial services can play in helping young people make a successful transition into their most productive years. It is also an opportunity to link young people to real opportunities that exist both in the local and the regional markets. We at Old Mutual consider it vital to integrate the youth in the development of our economy.”

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Wealth Management

Number of African millionaires to rise 42% over next decade, says report’

Africa as a continent has the both the youngest and fastest growing populations, which could mean endless possibilities for investors

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THE NUMBER of African millionaires is set to rise a staggering 42% in the next ten years, according to a new report,

The Africa Wealth Report which is the definitive guide of Africa’s wealth and luxury sector and is published by Henley & Partners – the global leader in residence and citizenship by investment.

This year’s report – written in partnership with New World Wealth – say Africa is set to see a substantial increase in Africa’s High-Net Worth Individual (HNWI) population over the next decade.

The report reads: “The Africa Wealth Report 2023 reveals that the growth in High-Net-Worth Individuals on the continent is expected to be 42% over the next 10 years.”

Natural and  eco-friendly businesses is a trend which is set to be popular with HNWIs and is set to influence a boom in the eco-tourism market.

However, the report noted: “Total high-net-worth individual numbers on the continent have dropped by 12% since 2012, as this report reveals, with poor growth in the three largest markets: South Africa, Egypt, and Nigeria.

“But the future looks brighter, as New World Wealth predicts Africa’s millionaire population will rise by 42% over the next decade, reaching 195,000 by 2032.”

Mauritius projected to have a growth rate of 75% in the next ten years.

But also, several other African countries are predicted to see a growth of over 60% for HNWI’s.

These countries are Rwanda, Zambia, Democratic Republic of Congo, the Seychelles and Morocco, according to the report.

Africa as a continent has the both the youngest and fastest growing populations, which could mean endless possibilities for investors.

The new report also reveals that “the ‘Big 5’ wealth markets in Africa — South Africa, Egypt, Nigeria, Kenya, and Morocco — together account for a significant 56% of Africa’s high-net-worth individuals and over 90% of the continent’s billionaires.”

But with countries like Rwanda are developing fast, which may mean a huge leap in the country’s wealth.

The report states: “Rwanda was the top performing market in Africa during the period, with millionaire growth of 72%, followed by Mauritius, the Seychelles, Uganda, and the Democratic Republic of the Congo.

“Morocco and Kenya’s high-net-worth individual populations also grew solidly.

“Ethiopia and Ghana, whose millionaire populations had been growing rapidly until 2019, have struggled over the past few years, which has pulled back their 10-year growth rates.

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Business

Financing Africa’s recovery.

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Financing Africa’s recovery: Is there an unfair risk premium on lending to the continent?

France 24’s François Picard leads a discussion in which Lionel Zinsou, former Prime Minister of Benin, and Marin Ferry, Asst. Prof. at the Université Gustave Eiffel, articulate their views on the treatment of African economies on the international bond markets and by credit rating agencies. Is there an anti-African stigma on the financial markets?

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Business

AFC – Changing the Narrative on Africa

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Africa Finance Corporation – Africa is on a major growth trajectory and the future belongs to Africa .

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