Twenty finalists have been selected to pitch at the last stage of the Nyamuka Zambia business plan competition, with participants standing a chance to win ZMW250,000 (US$32,300).
Disrupt Africa reported in March on the competition, which is aimed at entrepreneurs creating sustainable employment and contributing to economic growth.
After the closing of applications 60 entrepreneurs took part in business development courses, after which 20 were selected for phase three. The finalists will receive expert training and mentorship, and be introduced to investors, ahead of a Dragons’ Den-style televised award ceremony which will see five entrepreneurs named the winners.
“In what has been a nerve-wrecking, competitive and informative five months, The Nyamuka Zambia business plan competition has reached a tipping point with 20 contenders moving forward to the third and final phase of the competition in what is set to be a nail-biting finale,” the organisers said.
All 20 finalists in the Nyamuka Zambia competition will receive prizes to execute their business plans. The first place prize is ZKW250,000 (US$32,300); the second prize winner will receive ZKW175,000 (US$22,600); third prize winner ZKW150,000 (US$19,380); fourth prize ZKW125,000 (US$16,150); fifth ZKW100,000 (US$12,920); and the remaining 15 finalists will receive ZKW75,000 (US$9,690) each.
“Nyamuka Zambia is a business plan competition that is transforming Zambia’s entrepreneurial landscape by inspiring ambitious businessmen and women to raise their game and take their ideas to the next level – creating employment and driving the economy forward in the process,” said Namaya Lewanika, Nyamuka business plan competition officer.
“It is also tasked with finding a new generation of business heroes and helping them put into place a gameplan to grow their enterprises and tap into new markets that the Zambian economy needs,” she said.
