Youth account for 60% of Africa’s unemployed population, according to the World Bank. Youth unemployment is arguably one of our most significant challenges and risks on the continent. To meet the growing employment demand, we need to create 12 million jobs annually but as it stands, we are only creating three million jobs per year. Various strategies are needed to counter this growing challenge with interventions that; encourage entrepreneurship, offer on-the-job learning and training, and create opportunities for cross-generational mentorship. For this live pitch session, AVPA has selected four enterprises that are youth-led or impact the youth in partnership with Further Impact and the African Leadership Academy. Register here to join us on 28th September from 3 pm to 5:30 pm EAT to learn more about these investment opportunities:
About the Enterprises
Kuloola - Founder: Siyanda Mthethwa
Enabled by their own proprietary mapping and navigation technology, Kuloola is the first company in South Africa that delivers groceries to rural households and stock to rural spaza stores within 24 hours, at affordable rates, providing rural citizens with the same level of convenience and efficiency that urban residents have. As a first mover in this space, they provide their partner stores the gateway to reach a large but traditionally underserved market. As an impact start-up, they focus on employing rural youth.
Kuloola has recorded a monthly turnover of >R1 million, delivered to more than 2,500 customers with an 80% customer return rate and created 20 jobs for rural youth. They are seeking to establish a rural supermarket which will also serve as a local distribution centre for Kuloola deliveries, and further increase efficiency and delivery times.
Funding needed: R1.5 - R3 million in grants
Purpose: Pilot the establishment of a rural supermarket for walk-in shopping that can also operate as a distribution centre.
Sector: FMCG
XRG - Co-founder: Natalie Miller
Learners typically forget up to 90% of information within a week. With global workplace training being an over 370 billion USD industry in 2019 that equates to more than 333 billion wasted. XRGlobal is a first-to-market offline/online virtual and augmented reality learning and training platform created for upskilling emerging markets’ youth and workforce. XRG's extended reality solution is proven to dramatically increase knowledge retention, decrease training time and enable consistent, effective learning at scale. More than 90,000 young people have been trained through their technology in Africa and in 2022 they entered the Philippines with Asia Development Bank and LAC with Mastercard Centre for Inclusive Growth. Clients include The World Bank, Absa Bank, USAID Feed the Future, World Vision, YMCA, Habitat for Humanity, and GIZ among others.
Funding needed: $500,000
Purpose: Build out their content library and bring the rest of their contractors on full-time. They currently have several angel investors already on board including one of the lead LPs for Launch Africa.
Sector: Education
Ako Fresh - Founder: Mathias Charles Yabe (22 yrs)
Ako Fresh is working towards strengthening food systems in local communities in Ghana. Having grown up around issues of food security and social justice, Mathias was inspired to start a company that can ensure food security through preservation. Mills Fabrics awarded him the Community Prize for his role in championing food security and his tremendous contribution toward a net-zero world. Established in 2022, Ako Fresh offers IoT-enabled, solar-powered cold storage, and preservation services to help extend the shelf life of crops for up to 21 days in a bid to minimise post-harvest loss. The business works with both B2B and B2C models. Ako Fresh’s biggest market is currently in the Ashanti region of Ghana, where there is significant horticultural activity. The company has plans to scale outside of Ghana. In the short term, they plan to conduct a needs assessment in Burkina Faso, a major tomato producer in West Africa.
Sector: Agriculture/Food Security
Uganics - Founder: Joan Nalubega (21 yrs)
Malaria remains a significant contributor to mortality in Uganda, accounting for almost 20% of hospital deaths in the country. Uganics, aims to combat malaria by producing anti-malaria products: a long-lasting mosquito-repellent soap for families. The repellent effects of the soap last up to six hours following its use. To make it inclusive, Joan created a two-tier pricing system for tourists and locals. She sells the same products to visiting tourists at a premium and uses some of the revenue to provide discounts to underprivileged Ugandans most in need of the products. She has so far partnered with 10 safari lodges that sell the product at more than a 100% profit to enable her to subsidise the product for those who need it most. Uganics has so far carried out four malaria information campaigns and distributed 1000 free anti-repellent soaps to 120 families in rural districts of Uganda. Joan’s ultimate vision is to see Uganda free from Malaria, starting with reducing malaria deaths in Uganda by 20% in the next 5 years.
Funding Needed: $500,000
Purpose: Support the business operations, marketing and expansion to Kenya and Nigeria. They also want to work on increasing their production capacity and sufficiently stock their products in preparation for mass sales.
Sector: Health
