There is a drastic shift of financial sustainability that is currently happening in Africa which many financial analysts are calling it the next emerging market. Africa is fast becoming a viable place for investment especially when you take a look the production capabilities due to the fast-growing population.
It comes as a no surprise why China, India, Russia, and Brazil have close connections in Africa known as the BRICS trade agreement. In 2013, China invested $26 billion into Africa and in 2017 offered a $60 billion loan and aid package to Africa.
However even though this sounds good, African entrepreneurs are still facing numerous challenges. They have to face toughest conditions compared to the rest of the world. Business startups in Africa is
an important factor in fueling the economy. Majority of the locals earn their income from such businesses. One of the many challenges they face is funding.
Most financial institutions have not been helpful to the rapidly growing number of small businesses thus limiting some firms in gaining access to the funds. Others do not have the required business plans and documentation expected for funding. The financial institutions are therefore hesitant in giving loans to such businesses.
Most entrepreneurs lack knowledge about the funding at their disposal or are not aware of the micro-finance institutions or NGOs, such as the WealthBankers Foundation, that are willing to partner with them than the banks. It is also seen that most entrepreneurs have the idea, talent, skill but are not able to bring to fruition.
This is why the WealthBankers Foundation has started the WealthBankers Prodigy Hunt to inspire African Entrepreneurs to stand on their own and impact many lives in the community as much as
possible.
WealthBankers Foundations’ Prodigy Hunt
WealthBankers Foundation is an NGO with a heart for People and Business. Their sole social responsibility is to fight unemployment in Africa, inspire young people to entrepreneurship and alleviate poverty through education.
The Foundation initiated a project called WealthBankers Prodigy Hunt with the sole purpose of searching for remarkably gifted, talented, young people with innovative ideas; someone whose talents excite wonder, admiration and using the talent to impact his or her society even with his or her limited
resources he or she has.
The purpose is to inspire the African youth to entrepreneurship by using their talent to help their community. The project is sponsored by CyprusUni.com, People & Business Media, SlushFind, MadeItOnline.com, SCREENS, and WealthBankers Job Arena. You can also become a sponsor to help the course in the 12 African countries in which it’s taking place.
The Countries Involved
There are 12 African nations participating in the project; namely Ghana, Kenya, Nigeria, South Africa, Rwanda, Zambia, Malawi, Botswana, Zimbabwe, Mauritius, Namibia, and Uganda. Each country will have
their own Prodigy Hunt context together with their prizes. The top winners from each country will face off each other in the Grand Finale to compete for the Grand Prizes.
However, for each country to qualify there has to be a minimum of 1,000 prodigy submissions for EACH of their country level of the WealthBankers Prodigy Hunt show. A country is automatically disqualified if they are not able to reach the minimum entry requirement. All submissions are free.
When a country meets the required minimum submissions of 1,000, all the submissions will be reviewed to the top best 100 prodigy submissions. These 100 submissions will be put up for a public vote through the rounds. The winners of the rounds will then move on to receive award prizes worth $100,000 in total.
The WealthBankers Prodigy Hunt are looking for people with talents in Business, Arts, Science and other categories and has to be 30 years and below. The prizes given to the winners will help project their
innovations to the next level.
The Submission Process
The whole competition will be done online except for the award stage which will be presented offline to the winners. To take part, all you have to do is to send a video of your talent explaining how your innovation inspires or will help the community and submit it as part of your application. Only one submission is allowed per person or team. All contacts will be made
through prodigyhunt@wealthbankers.com.
The competition has already begun in Ghana and submissions are open for Nigeria and Kenya as well. For more information, visit the WealthBankers Prodigy Hunt official webpage.
Africa has definitely changed since last decade. Countries that were once searching for recognition is now a growing market for infrastructure projects, investment banks and a place for NGO’s to help African entrepreneurs to rise on top to make meaningful impacts in various African countries.
Wealthbankers Foundation is helping the African youth to not only rely on the Government for jobs, but to rely on their own skills to change their lives and the lives of the
community.
This requires all the support and donation they need to make this a success. Let’s help spread the word!
