Ope Olanrewaju of Kenni-O Cold Chain Logistics from Nigeria won the USD 15 K grand prize of The SUN Business Challenge at the Nutrition Africa Investor Forum in Nairobi showcasing entrepreneurial opportunities in Africa in the Agribusiness and Food sector. The Scaling Up Nutrition Pitch Competition saw 21 finalists compete after having been shortlisted from a pool of 450 entries from different African countries. The Global Alliance organised this forum – the first of its kind – that links up investors with nutrition-focused SMEs for Improved Nutrition (GAIN), Royal DSM , The Sun Business Network and African Magazine. At the sidelines of the same two-day event, Nutrition Dealrooms comprising part of GAIN’s pipeline of companies improving access to nutritious food attracted the interest of investors taking part in 130 deal room discussions involving 20 investors and more than 20 companies with $82m worth of investment being contested for various opportunities in the sector.
While opening the forum Fokko Wientjes, Vice-President of Nutrition in Emerging Markets, Royal DSM observed that “The panelists had an extremely challenging afternoon choosing from 21 extremely good candidates from different parts of Africa. What we have seen is the critical role of innovation and scaling for SMEs in the food industry which proves that this conference is necessary and meeting a need.” According to its website, Kennie-O Cold Chain Logistics provides value-added services that include cold storage and distribution, provision of Reefer equipment, party services as well as the provision of Intermodal and State transportation. The company was founded in 2014 and was selected based on nutrition impact, commercial viability, scalability and the use of innovation.
Other reported winners were August Secrets from Nigeria who won the Graca Machel Award, Healthy Maishaa from Tanzania who took the BoP Inc Award, Kulamawe Poultry Industries from Kenya who took the GrowthAfrica award and Miruku Agro Industria from Mozambique who took the DSM Innovation Award.
This development first appeared on cnbcafrica.com
Feature image source: African Business Magazine