Small and medium-sized companies (SMMEs) are proving to be the engines of economic growth and job creation throughout the African continent at a time when unemployment issues and economic instability are on the rise.
MultiChoice created the MultiChoice Africa Accelerator program to teach 29 enterprises across 9 African countries in essential entrepreneurial skills in recognition of the crucial role that SMMEs play in the continent.
An experienced panel has chosen 11 of the most promising small enterprises for the program’s second leg, where they will present to potential foreign investors in Dubai.
“There’s no denying the impact African SMMEs have on job creation and economic growth,” says Fhulufhelo Badugela, MultiChoice Africa CEO. “Through the MultiChoice Africa Accelerator Programme, our vision is to take that impact and multiply it beyond what our start-up founders ever believed possible. I have no doubt these small businesses will be able to take everything they’ve learned so far to unlock transformative business funding.”
The MultiChoice Group created the MultiChoice Africa Accelerator program, which is a component of the MultiChoice Innovation Fund. It was developed in collaboration with the Dubai-based business incubator Companies Creating Change (C3), technical partner EOH, and Galelo Africa to serve as a platform for the growth of start-up companies from all over Africa.
The program focuses on small enterprises and startups in the technology areas of health tech, agritech, fintech, edutech, the circular economy, and creative industries.
“The quality of the submissions this year was high. It confirms our view that Africa has enormous potential. The specific focus on tech industries allows us to showcase the innovation of Africa to the world, but also enables these businesses to develop tech solutions to real societal problems,” continues Badugela.
Public and commercial sector partners in each nation nominated companies or entrepreneurs for the MultiChoice Africa Accelerator Program’s inaugural phase. From there, 29 of the start-ups began a rigorous virtual training program in Johannesburg in December 2022.
The eleven start-ups participated in a special boot camp in Lusaka, Zambia to gain additional insight into how to craft their narrative for foreign investors and to become “pitch ready” before to their major presentations.
During this year’s MultiChoice Africa Accelerator Program, a panel of investors has selected 11 start-ups to hear their business concepts. They are: