2024 FINCA Ventures Prize Competition (full version)

Описание: In a celebration of social impact, FINCA awarded $400,000 in grants to 12 social enterprises working in sub-Saharan Africa. Through their products and services, these companies address serious challenges in the region in two vital sectors: healthcare and agriculture. The first-ever FINCA Ventures Prize competition, which took place on March 28, 2024, was more than a contest. The event was a beacon of hope, shining a light on FINCA’s impact investing in Africa and beyond.

The finalists, three in each of four categories, delivered their pitches before a panel of judges and an audience of around 150. Among the guests were the United Republic of Tanzania’s Ambassador to the U.S., H.E. Dr. Elsie Sia Kanza, Togo’s Ambassador to the U.S., Monsieur Frédéric Edem Hegbe, and Andrew Buop, education attaché from the Embassy of the Republic of Kenya.  

In kicking off the event, FINCA President and CEO Andrée Simon recalled that 40 years ago, FINCA was launched by visionaries who believed that giving small loans to people in poverty can transform their lives. In addition to financial empowerment for individuals, FINCA today supports entrepreneurs who innovate community solutions that serve millions of people worldwide. Impact investing in Africa represents a significant portion of FINCA Ventures work. “We made the choice to invest in social entrepreneurs with bold visions, disruptive business models and new products or technologies seeking to create meaningful impact for poor and low-income people,” Simon said.

From over 300 hopefuls who applied to the competition, FINCA chose 40 semi-finalists. Outside experts then helped FINCA narrow down the pool to the 12 finalists. The finalists are not typical start-ups. They were dreams that turned into action. Ten of the 12 companies featured women in leadership roles, highlighting FINCA’s commitment to women’s empowerment and gender parity. Ultimately, the first-place winners in all four categories were founded or co-founded by women. Each earned a grant of $70,000 that will go towards scaling their impact and expanding their services. The second and third place winners went home with grant awards of $20,000 and $10,000 each.