ARED selected as one of 10 finalists for the Innovation Prize for Africa (IPA) 2018

Zurich (Switzerland), September 2018. GreenTec Capital Partners are very pleased to report that ARED has been selected as one of the 10 finalists for the 2018 Innovation Prize for Africa. ARED was selected as a finalist from more than 3,000 applicants from 52 countries for its innovative Mobile Shiriki Hub which can empower millions of Africans to get connected to the digital world – especially in rural areas.

This year’s call for applications had theme “African innovation: Investing in Inclusive Innovation Ecosystems” and attracted more than 3,000 applications from 52 African countries. The finalists represented a range of solutions in the ICT, agri-business, public health, and the environment/ energy sectors with a focus on improving the lives and economic prospects of Africans.

Walter Fust, AIF Chairman said: “Now in its seventh year running, we have witnessed multi-million-dollar businesses emerging from the IPA initiative, with health, environment/energy and agricultural innovations leaving imprints across the African continent and beyond. Our theme this year prompts the need for increased collaboration between government, business, industry, innovation enablers and the community to further realise African prosperity and economic freedom.”

The IPA initiative focuses on rewarding and honoring top African innovators while also building strategic partnerships with innovation enablers to strengthen innovation ecosystems in Africa. To date, the AIF has supported 55 IPA winners/nominees with more than US$ 1 million and mobilized 9,400+ innovators from all 55 African countries. AIF endorsement and exposure generated through the IPA have seen past winners securing over US$135 million worth of investments to grow and scale their businesses. IPA past winners and nominee company valuations amount to over US$200 million.

Managing Director of the AIF, Pauline Mujawamariya Koelbl, who has steered the IPA program since its establishment in 2011, said: “We are proud of the impressive innovations that made it to the top 10 this year. They are evident examples of African ingenuity and each innovation is solving a real challenge in a key sector. Africa, and indeed the rest of the world, must keep an eye out – these innovations are ready to propel our continent’s global competitiveness in the market! Furthermore, these top 10 nominees are a great reminder that if given access to capital, Africans are capable of solving African challenges whilst also contributing to the rest of the world.”

GreenTec is very proud that ARED has placed competitively in such a prestigious award and that the innovation of the Mobile Shiriki Hub is recognized on a pan-African stage. With ARED successfully raising over €220,000 with the crowdfunding campaign through Bettervest we are excited to see the project grow and happy to see ARED CEO Henri Nyakarundi’s hard-work being recognized. The ARED Bettervest Campaign will continue for another 7 days till the 27th of September so there is still time to participate!