The second year of the ground-breaking Nyamuka Zambia Business Plan Competition got underway today with an official launch graced by the Minister of Commerce, Trade and Industry Hon. Margaret Mwanakatwe.
The competition nurtures ambitious entrepreneurs by guiding them through the process of turning their innovative ideas into viable and vibrant businesses with the help of mentoring, coaching and financial support.
“Establishing a country’s entrepreneurial architecture is no easy task. This should be a task for all of us: government, the private sector, and our co-operating development partners, civil society and NGOs. On this score, i would like to thank Nyamuka Zambia for joining hands with us as government,” said Mrs Mwanakatwe at the launch of the second 2016 round the Nyamuka competition.
Shalin Jethi, Nyamuka Zambia Business Plan Competition Manager said: “We have been waiting for this day for months and we are excited to finally launch the second season of the Nyamuka Zambia Business Plan Competition. After the success of the inaugural competition last year, we anticipate that this year will be bigger and better with heightened interest from budding entrepreneurs.”
“Competing for the grand prize of K250,000, participants create and craft their business plans and prepare to launch their businesses. Successful entrepreneurs and experts from diverse professional backgrounds will serve as mentors,” he added.
The launch introduces the potential competitors to the competition’s rules and judging criteria, and marks the official start of the six-week application period where eager entrepreneurs will submit their business ideas and concepts. Following a series of workshops, one-to-on business advice, a national business conference, mentoring sessions and three rounds of judging the competition will culminate on October 7, 2016 with a final pitching of presentations from the finalists and a public event awarding the K250,000 top prize and 19 other substantial cash prizes to winners.
The contest is open to entrepreneurs from all economic sectors from around Zambia. The application date will run from March 10 to April 29, 2016, after which no applications will be accepted. For more information, visit www.nyamukazambia.com
Nyamuka Zambia is part of the UKaid-funded Private Enterprise Programme – Zambia (PEPZ). Emma Donnelly, who heads the UK’s Department for International Development (DFID) in Zambia, said: “The UK government believes that the end to poverty lies in economic development, driven by a vibrant private sector that benefits all Zambians. That is why DFID is supporting the private enterprise programme-Zambia, and its flagship Nyamuka Zambia business plan competition. This initiative provides a perfect platform for entrepreneurs to challenge themselves to develop that business idea that they have or to scale up an existing business. Supporting jobs, enterprise and making sure that work pays is what we all want. This is really what Nyamuka is all about and i believe they are succeeding.”.
Last year’s competition attracted over 550 applications from budding entrepreneurs from all walks of life, who submitted their ideas ranging from renewable energy and waste management to fashion and design through to food processing and consumer services.
At a glittering grand finale last year attended by Vice President Hon. Inonge Wina and other dignitaries including Minister of Youth and Sport Vincent Mwale and UK’s Department for International Development (DFID) Head of Office Emma Donnelly, Judy Siyambango was unveiled as winner of the inaugural 2015 season of the Nyamuka Zambia Business Plan Competition.
Nyamuka Zambia Business Plan Competition provides an integrative learning experience for all participants. The prime objectives of the competition are to inspire ambitious businessmen and women to raise their game and take their ideas to the next level, and in the process creating employment and wealth for the country.