Today's top entrepreneurship and business stories (16 February)

Innovators compete for Agripreneur of the year at GEC 2017, NEF to be incorporated into IDC, and more


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Innovators compete for Agripreneur of the year at GEC 2017
Fifty world-class innovators in food, ag tech and agriculture will compete for the Agripreneur of the Year title at the 3rd Future Agro Challenge (FAC) Global Championships during the Global Entrepreneurship Congress (GEC) to be held on 12-15 March, 2017 in Johannesburg.

The Future Agro Challenge has managed to mobilise participation from more than 60 countries over five continents to identify ground-breaking agro initiatives addressing national, regional, and global challenges across the food supply chain.

This year, FAC is partnering with Securing Water for Food: A Grand Challenge for Development for the Global Agripreneurs Summit 2017, a four-day event that connects innovators with investors and key stakeholders in the food and agribusiness sector.

The GEC is a highlight on the industry calendar and is hosted in part by Industry Disruptors, Industrial Development Corporation, Sida through the Swedish International Development Cooperation Agency, the Ministry of Foreign Affairs of the Kingdom of the Netherlands, and the South African Department of Science and Technology, also a co-host of the GEC.

Startups competing at the 3rd FAC Global Championships include: 8Villages,Adaptive Symbiotics Technologies, AgroCenta, Agron Solutions, Agruppa, AquaFarm Ltd., aQysta, Asgard Project, Aybar Engineering, BRCK Education, Cassava Biomass, CityCrop, Conservation South Africa, CSABateke Project, EM3 Agri Services, Farm Fresh Online, FutureWater, Green Heat, Green Path, Guano Fertilizer Mozambique, HappyFarmer, International Center for Biosaline Agriculture (ICBA), ICU Jordan, ICU Peru, Ignitia, Karaw Craftventures, LARBE Project, MetaMeta/Salt Farm Texel, MIT Tata, MUHR Natural Products (Wild Garden Project), My Rain, Nutrishake Andino, Osma Hassan Ali Tabid, Platinum Compost, Practical Action Bangladesh, Ranch Du Sahel, Real Agricultural Solutions For Africa, Reel Gardening, Refill Dominicana, Revolution Agriculture, Save Our Agriculture, Seed Forward, Semila, Si Technologies, Smart Villages, Smart Watering, Taqa Solutions, Water Governance Institute, World Hope, and Zenvus.

NEF to be incorporated into IDC
The Ministers of Trade and Industry and of Economic Development announced in Cape Town yesterday that the National Empowerment Fund (NEF) will become a wholly-owned subsidiary of the Industrial Development Corporation (IDC) in order to meet the considerable demand for funding by black entrepreneurs.

Both the IDC and the NEF have been identified by Government as central in implementing radical economic transformation and development policies, particularly in light of renewed efforts to develop black industrialists. The merger will promote increased broad-based black economic empowerment with a specific focus on promoting black industrialists.

This decision is in line with government policy to consolidate South Africa’s development finance institutions to provide effective support to emerging and existing black entrepreneurs, and thereby enhancing efficient service delivery.

the dti and EDD will appoint a technical team to drive the process expeditiously. The Minister of Trade and Industry will continue to provide legislative and policy guidance to the NEF. 

The Estée Lauder Companies Partners with Jumia Online Retailer to Provide Clinique, Estée Lauder and Aramis Brands to Nigerian Consumers
The Estée Lauder Companies has partnered with Jumia the leading online retailer in Nigeria to launch for the first time three of the Company’s brands – Clinique, Estée Lauder and Aramis.

Each of our visitors will enjoy country-wide delivery, 7-day free returns, and varied payment options including cash on delivery.

"With this new partnership on the Jumia platform customers and beauty enthusiasts all over Nigeria can now access the premium products from Clinique, Estée Lauder and Aramis with the assurance of Jumia's buyer protections. Each of our visitors will enjoy country-wide delivery, 7-day free returns, and varied payment options including cash on delivery” shares Juliet Anammah, Jumia Nigeria CEO.

"The Estée Lauder Companies is excited about this partnership with Jumia in Nigeria. Many of our consumers currently do not have regular access to our products, specifically in Lagos and Abuja. Our fully branded "stores-in-store" on Jumia will provide women and men all over Nigeria with the opportunity to enjoy our brands via an educational and convenient online shopping experience, and with full confidence on our products authenticity,” shares Mario Lazzaroni, Country Manager for The Estée Lauder Companies, Sub Saharan Africa.

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