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— Initiative implemented by Monrovia Startup Consortium through ATI Agribusiness Incubator and Development Activity Lot B
Ganta, Nimba County—The United States Agency for International Development (USAID), in partnership with the Monrovia Startup Consortium, has awarded grants totaling US$205,000 to eight Liberian entrepreneurs who excelled in the Agribusiness Incubator and Development Activity Lot B Cohort Two pitching competition.
TRIBE, a member of the consortium, is the lead implementer of the initiative. The consortium, which also consists of YONER Liberia, and SMART Liberia, is implementing the project to create opportunities for local entrepreneurs to thrive in the agricultural market
This initiative, part of the USAID ‘Feed the Future’ program, aims to support small agribusinesses in Liberia to enhance their operations and productivity. Entrepreneurs presented diverse agribusiness ventures during the pitching competition, with a focus on sustainability, local market attraction, and scalability for national and global reach.
The second cohort of this competition featured 20 agribusinesses from four counties: Montserrado, Grand Bassa, Sinoe, and Bong. These businesses specialized in various sectors, including food crop production, processing, domestic marketing, and niche farming ventures like cocoa and sugarcane.
The competitive event featured 20 agribusinesses specializing in sectors such as food crop production, processing, and niche farming ventures.
The participants at the competition presented their business proposals to a panel of expert judges, outlining their strategies for sustainable sourcing, attracting local customers, and establishing efficient distribution channels.
They also discussed plans to expand their businesses to national and global markets, highlighting the potential to create jobs, enhance production capacity, and facilitate regional and global trade. The recipients expressed that the grant would provide them with increased economic freedom and sustainability for their businesses.
The judges assessed each pitch based on critical criteria, including the strength of the business model, financial performance, scalability, implementation strategy, investment readiness, marketing strategies, and a well-defined profit model aimed at attracting future investments.
Eight businesses were chosen as grant recipients out of the 20 contestants, with grants awarded in three tiers: US$10,000, US$25,000, and US$50,000. The US$10,000 grants went to Gold Mark Group of Companies, Flourish Poultry, and LoRu Agri-Business Corporation.
Those receiving US$25,000 grants were Patience Cocoa Inc., Shalom Food Production, and Faith Natural Juice. The highest grant of US$50,000 was bestowed upon Jimmy Snacks Kitchen Inc. and Agro Rubber Industries.
In a statement, USAID Liberia’s Private Sector Specialist, Economic Growth, J. Cyrus Saygbe, highlighted the funding’s goal to translate innovative concepts into practical solutions, generate employment, enhance food security, and stimulate economic development in Liberia.
Saygbe emphasized the significance of the agribusiness pitching competition in showcasing the credibility and potential of Liberia’s agribusiness sector. He encouraged participants to advance with confidence, leveraging their dedication and hard work to lead in the entrepreneurship field.
He praised the participants for serving as inspiration to others and demonstrating the abundant potential within Liberia’s agriculture sector.
“I encourage you to step forward with confidence and bring the brilliance of Liberia’s entrepreneurship regardless of all, your dedication and hard work already position you as leaders in the field. You are an inspiration to others and a testament to the potential that exists within Liberia’s agriculture sector,” he remarked.
Wainright Acquoi, CEO of TRIBE, expressed appreciation for the participants’ commitment to the challenging competition. He emphasized that the Monrovia Startup Consortium (MSC) is honored to collaborate with these individuals to generate employment, alleviate poverty, and address vital issues throughout Liberia.
Acquoi highlighted the competition as a showcase of Liberian entrepreneurs’ resilience and innovation, underscoring the grants as investments in solutions that address critical challenges, create job opportunities, and foster sustainable growth.
“This pitch competition is more than a showcase of ideas; it’s a testament to the resilience and innovation of Liberia’s entrepreneurs. These grants are not just funding—they’re investments in solutions that tackle pressing challenges, create jobs, and ignite sustainable growth.
He extended his gratitude to USAID and the Africa Trade and Investment (ATI) Activity for their essential support in facilitating this initiative and offering valuable insights into Liberia’s real needs.
Beneficiaries expressed gratitude for the support, emphasizing the impact the grants will have on expanding their businesses and addressing market demands.
James O. Gaygay, the Finance Manager of Patience Cocoa Inc., expressed gratitude for the US$25,000 grant, stating that the funds would be instrumental in acquiring equipment to address production demands.
He highlighted past challenges in fulfilling orders from larger companies due to financial constraints and expressed confidence that the grant would enable them to meet these demands effectively.
Gaygay emphasized the significance of the grant in enhancing their capacity and fulfilling orders efficiently.
“Sometimes, other companies reach out to us, but we don’t have what it takes to meet their demands. With this $25,000, we are very sure we will fulfill those demands and more,” said Gaygay.
Akouavi Tehoungue, the CEO of Jimmy Snacks Kitchen Inc. and recipient of the US$50,000 grant, highlighted the financial difficulties her business has encountered in recent months.
She expressed her plans to utilize the grant to enhance their business operations and expand their market reach, aiming to restock shelves in supermarkets and extend their presence beyond Montserrado to cover all fifteen counties.
Tehoungue acknowledged TRIBE and its partners for providing valuable training in financial management and sourcing, which contributed to a better understanding of the competition among participants.
