Kinshasa, DRC, October 5, 2023 – Businesses focused on digital technology and circular agriculture were named the winners of the DRC Agribusiness Innovation Challenge, a startup competition managed by IFC to support agri-small businesses and smallholder farmers as well as the development of climate-smart agriculture in the Democratic Republic of Congo (DRC).
The three winning companies were selected from a shortlist of 10 businesses that pitched their ideas to a jury of government representatives, members of development organizations, agribusiness investors and venture capital funders in Kinshasa this week, ahead of the DRC Agribusiness Forum taking place October 4-5.
The winners were selected based on their business innovation, potential for impact and scale, business viability, and team capabilities. Each winner will receive financial support ranging from $10,000 to $25,000 as well as and technical support to grow their operations and drive economic development in the DRC's agriculture sector. Nearly 150 businesses applied to the challenge from across the country.
"These winning enterprises demonstrate the creativity and entrepreneurial spirit that exists in the DRC's agribusiness sector. Entrepreneurs can play a critical role in empowering smallholder farmers and SMEs, while strengthening greater food security and climate resilience. Supporting them is key to unlocking the opportunities in the DRC's agriculture and food industries," said Mary Porter Peschka, IFC's Regional Director for Eastern Africa.
The Challenge was funded by the Global Index Insurance Facility (GIIF), an IFC-led climate insurance program that helps small-scale farmers gain better access to finance and inputs to protect their livelihoods against weather-related events. The program works with AgTechs to promote the use of digital technologies to solve issues faced by the agriculture sector during production, harvest and sales. The Challenge is supported by the Netherlands, one of GIIF's largest donors.
"The Netherlands recognizes the critical role of agriculture in ensuring food security, sustainability, and economic growth. The creative approaches these entrepreneurs have developed to tackle the challenges faced by smallholder farmers and agri-SMEs in the DRC are commendable," said Angele Samura, Ambassador of the Kingdom of the Netherlands to the DRC. "Their work aligns with our shared global commitment to promote agricultural productivity, profitability, and resilience to climate change. This challenge, led by the IFC, is a significant step towards unlocking the untapped potential of the DRC's agri-food industry and driving inclusive agricultural transformation. We look forward to witnessing the positive impact these initiatives will have on the DRC's agricultural sector and beyond."
Agriculture accounts for about 17 percent of the DRC's GDP and employs around 55 percent of the population. Smallholder farmers, who account for more than 80 percent of the country's agricultural workforce, face significant obstacles that limit their growth, including low productivity, post-harvest losses and limited access to agricultural technologies.
IFC launched the Challenge to recognize and support dynamic young and female agribusiness entrepreneurs in the DRC, particularly those running climate-smart agriculture start-ups that are using digital and non-digital technology solutions to increase the productivity and profitability of SMEs and smallholder farmers.
First place went to Green Community Mind, a female-led start-up that has developed an app connecting beekeepers with clients, allowing beekeepers to receive technical advice and market intelligence, and remotely monitor their hives to track temperature, predators and the ideal time to harvest.
Second place went to Kivu Kuku Poultry Farm, a company that is transforming poultry farming with its innovative 'Chicken Bank' system, which includes solar-powered cold storage and the recycling of organic waste for biogas production. Third place went to Bilanga Solutions, which operates a web and mobile platform that gives farmers better access to markets.
For more information about the Challenge winners, the other seven finalists and the DRC Agribusiness Innovation Challenge, visit https://bit.ly/DRC10Finalistes2023.
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.
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About GIIF
The Global Index Insurance Facility (GIIF) is a dedicated World Bank Group's program that facilitates access to finance for smallholder farmers, micro-entrepreneurs, and microfinance institutions through the provisions of catastrophic risk transfer solutions and index-based insurance in developing countries. Funded by the European Union, the governments of Germany, Japan, and the Netherlands, GIIF has facilitated approximately 13 million insurance contracts, covering an estimated 65 million people, primarily in Sub-Saharan Africa, Asia, and Latin America and the Caribbean.
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