BUSINESS

ZAMBIA’S MOST PROMISING ENTREPRENEUR REVEALED

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Winner of K250,000 cash prize unveiled

Her Excellency the Acting President, Hon. Inonge Wina with winners of the Nyamuka Zambia Business Plan Competition.

Her Excellency the Acting President, Hon. Inonge Wina with winners of the Nyamuka Zambia Business Plan Competition.

Lusaka, Zambia – After six months of intense preparation, workshops, business clinics and seminars, Nyamuka Zambia has finally announced the winner of its business plan competition.

Judy Siyambango was last night revealed as Zambia’s most promising entrepreneur and received the K250,000 first prize at a glittering grand finale attended by Vice President Hon. Inonge Wina and other dignitaries including Minister of Youth and Sport Vincent Mwale and UK Department for International development (DFID) Head of Office Emma Donnelly.

The winner was selected from a highly competitive pool of hundreds of applicants from across Zambia, and represented sectors across the nation including finance, agriculture, fashion and information technology.

In second place, receiving a prize of K200,000 was Alan Chanda; the K175,000 third prize went to Towani Clarke; K150,000 fourth place was Cassandra Mtine; K125,000 fifth prize went to Mattias Ohlson and the remaining 14 finalists received K75,000 each: Nelson Mphande received the K85,000 Nyamuka Zambia Good Nutrition Prize supported by the World Food Programme (WFP)-sponsored SUN Business Network.

“We, at Nyamuka Zambia are excited to be part of the process of supporting interventions that contribute to sustained economic development across the nation,” said Nyamuka Zambia Manager Shalin Jethi.

Her Honour, Vice President Inonge Wina, who was the Guest of Honour, expressed enthusiasm for Nyamuka Zambia’s contributions to developing a network of local start-ups investors and said: “I want to thank Nyamuka Zambia again, for bringing together a remarkable programme that will foster a community of entrepreneurs, and a programme that underscores the vital importance of entrepreneurship and innovation to our national economy, job creation and the generation of equitable wealth to help our citizens move out of poverty. I genuinely thank Nyamuka Zambia and its sponsors for this gallant effort.”

Judy Siambango, a graduate in education and environmental studies based in Nakonde won the competition for her business idea to set up a dried mango factory in Mongu as a cost-effective way of preserving mangoes in Western Province.

“What makes me a winning entrepreneur is the determination to succeed in any activity that I do. I entered the competition because it provided an opportunity to raise additional capital required to secure processing facilities with adequate production capacity. The motivation to carry on during all phases came from being selected to compete at the next higher level,” she said.

Launched in March 2015, the ZANACO-sponsored Nyamuka Zambia competition is one of four components under under the DFID-funded Private Enterprise Programme – Zambia (PEPZ), and sets out to identify deserving entrepreneurs with projects that create jobs, foster entrepreneurial ecosystems and promote inventiveness in the private sector.

The primary goal of the initiative is to transform Zambia’s entrepreneurial setting by inspiring go-getting businessmen and women to take their ideas to the next level – creating employment and driving the economy forward in the process.

Applications for the competition were launched on March 17 with nearly 600 budding businessmen and women all hoping to win the K250,000 top prize, along with runner-up prizes and support to bring their concepts to life.

Budding businesspeople from all walks of life submitted their ideas, which ranged from renewable energy and waste management to fashion and design, food processing and packaging and also a range of other innovative products and consumer services.