matching grants to fund innovative business plans and promote economic growth in seven countries in sub-Saharan and North Africa. The grants will match ADM winners' own funds to support growth of their businesses.
Support to agribusiness is one of the main priorities of the ADM (see video at the bottom of this blog post).
Nearly 500 entrepreneurs submitted business plans to compete for a grant as an investment in their business as part of the ADM II competition. ADM II is a collaboration of the United States Agency for International Development (USAID), the Western Union Company and the Western Union Foundation.
Winning proposals included a Kenyan agribusiness implementing sustainable "zero-waste" practices through the commercial production of High Efficiency Organic Fertilizer; the first legal technology provider in Tunisia; an alternative power-generator utilizing agricultural waste in Liberia; and an online medical information delivery system in Nigeria. Each awardee can receive a total investment of up to USD70,000, which includes up to USD50,000 in matching cash grants and/or up to USD20,000 in technical assistance.
Each winning project will be monitored for a period of up to 24 months and grant payments will correspond to key milestones identified in the winner's proposal. Entrepreneurs will also have the opportunity to connect with winners of the first ADM competition, sharing best practices and learning from their experiences.
ADM II is jointly funded by USAID, the Western Union Company, and the Western Union Foundation. Other contributing partners include Ecobank, African Capacity Building Foundation (ACBF), George Washington University Center for International Business Education and Research, the Tony Elumelu Foundation, the U.S. Department of State and Irv Barr Management.
"The African Diaspora Marketplace will strengthen and help satisfy demand for locally-produced products and services," said USAID Administrator Rajiv Shah. "These businesses will buy, sell and hire from within the communities they serve, putting money into the local economy, building local capacity and fueling broad-based economic development."ADM II incorporates key lessons from the first African Diaspora Marketplace. Expanding upon its success, Western Union and USAID invited small business investment funds and technical assistance mentors to participate in the effort this year.
|Kenya||Agribusiness||African Boreholes Initiative, Ltd.|
|Nigeria||Renewable energy||Comprehensive Design Services|
|Ghana||Agribusiness||Gonja Meat Company|
|Kenya||Information Communication Technologies (ICT)||Infinicity PLC, Inc.|
|Nigeria||Information Communication Technologies (ICT)||MedEnhanz Resources Ltd.|
|Zambia||Information Communication Technologies (ICT)||Mobile Payment Solutions Ltd.|
|Uganda||Agribusiness||ORIBAGS Innovations (U) Ltd.|
|Nigeria||Information Communication Technologies (ICT)||OTGPlaya Entity LLC|
|Kenya||Agribusiness||Pork Delights Limited|
|Nigeria||Agribusiness||Poultry Health Products Nigeria Ltd.|
|Tunisia||Information Communication Technologies (ICT)||PromoTunisia|
|Nigeria||Information Communication Technologies (ICT)||Trafficafric Limited|
|Liberia||Renewable energy||TransAtlantic EcoPower|
|Tunisia||Information Communication Technologies (ICT)||TuniLab|
|Ghana||Agribusiness||Viable Vision Industries|
Second African Diaspora Marketplace: online press conference by Western Union. With Aida Diarra, Regional Vice President North, Central and West Africa, Western Union.
- Read a profile of Tony Elumelu, ADM II sponsor and founder of the Tony Elumelu Foundation, on Forbes.com here.
- Watch the ADM II Virtual Press Conference or listen to a podcast of it.
- Listen to an extensive interview on BBC Francofone with Aida Diarra, Western Union Regional Vice President, West Africa
- African diaspora marketplace pour le partenariat en Afrique from Afrik.com
- Western Union lance la seconde édition de l’African Diaspora Marketplace from Les Afriques on page 7
- USAID and Western Union Add Libya and Tunisia to the Second African Diaspora Marketplace This article is also available in French here.
- Check out the ADM II Press Release.
- AllAfrica.com interview with Western Union Vice President Barbara Span about ADM II "Western Union Offering Support for Diaspora Entrepreneurs"(November 29, 2011)