Home Business and Technology 26-year-old Lusaka entrepreneur wins K1 million in Zanaco Kweza challenge

26-year-old Lusaka entrepreneur wins K1 million in Zanaco Kweza challenge

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Mwala Mooto,
Mwala Mooto, a 26-year-old entrepreneur who won the K1 million first prize of the Zanaco Kweza challenge.

4 other finalists won varying amounts of K100,000, K200,000, K500,000 and K700,000.
The Kweza challenge ran for over 2 months with 50 entrepreneurs pitching various aspects of their businesses.

Mooto , through his Maima General Dealers, pitched a business model of building a stable value chain in the agricultural sector that incorporates smallholder farmers.

“We have opted to be part of the solution by setting up a 20 million kwacha financial instrument that will be used to build a stable value chain in the small livestock sector. The instrument has so far attracted a total investment of 5 million which includes the 1 million prize from ZANACO, 2 Million from the African Development Bank and 2 Million from Mooto Holdings Ltd our private equity investment firm. We are actively engaging more financiers to raise the 15 Million kwacha balance and we are at an advanced stage,” he wrote after his win.

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