The USAID Liberia Agribusiness Incubator & Development Activity has concluded its latest Pitch Competition Event in Ganta, Nimba County, spotlighting the creativity and resilience of entrepreneurs from five counties across Liberia. This initiative, launched in partnership with USAID Liberia, through the Feed The Future Initiative, USAID Africa Trade & Investment (ATI) in partnership with Educare Liberia and TRIBE Liberia, has made significant strides since its inception just a year ago, according to Luther Jeke, CEO of iCampus Liberia.
On November 27, 2024 Twenty-eight finalists out of an impressive 114 applicants took center stage to present their business ideas to a panel of five distinguished judges. These experts in law, entrepreneurship, business development, innovation, and academia evaluated the pitches based on six key criteria: business model viability, financial projections, implementation plans, scalability, investment readiness, and social impact. This program is being supported by the US Government's Global Hunger and Food Security Initiative (Feed the Future) program.
The finalists competed in three grant categories -- US$50,000, US$25,000, and US$10,000 -- bringing forth innovative solutions to local challenges. Ultimately, 10 businesses secured funding to develop their ventures further, with the judges applauding the ingenuity and determination displayed throughout the event.
Speaking at the event, Jeke expressed optimism about the program's impact, emphasizing its role in providing more than just financial support.
"These businesses are equipped with solid, marketable concepts that have matured significantly over the past six to seven months," he said. "Our goal is not just to fund these ventures but to foster sustainable growth that contributes to Liberia's economic development."
Jeke highlighted the transformative journey of many participants, who joined the program with limited business management experience but showcased remarkable potential and passion. He underscored the incubator's mission to inspire entrepreneurs to employ young Liberians, empower women, and include persons with disabilities in their operations.
Looking ahead, Jeke stressed the need to scale the program to reach more businesses across Liberia, leveraging lessons learned to amplify its impact.
"Global statistics show that 90% of small businesses fail within their first year. However, we're proud to report that 80% of our participants are thriving -- a testament to the effectiveness of the coaching, mentoring, and guidance we provide," Jeke added.
Category One- US$50K
The winners in different categories include: Sam Karnwhine -Bomi county -Sehmen Agro Limited, Miamiatta-Fatima Kroma-Grand Cape Mount, Royal Farm. Mirian Melody Death- Bomi-Jepmet's innovative Farm.
Category Two- US$25K
John Flomo, Lofa county-Malaku Enterprise, and Margaret Nigba-Bomi county Her Voice Agriculture Farm Limited.
Category Three- US$10K
Solomon G. Coleman Bomi County-SG Business Enterprise- Hawa G. Kiazulu-Jesus Takes the Wheel Grand Cape County, Peter Humphrey- Lofa-Lalapee United Farmers for Development Inc., Anthony Siaffa -Lofa county- N'daka Farmers Development Association Inc., and Prince Dolo-Grand Gedeh county- Human Equality Concern
The grants, scheduled for disbursement in early 2025, are anticipated to accelerate the growth of these enterprises, contributing to both individual successes and the broader economic health of Liberia.
Among the winners was Cllr. Margaret Nigba, CEO of Her Voice Agriculture Farm Limited, who secured a US$25,000 grant to enhance ginger and honey production. Nigba's pitch focused on addressing the high cost of honey in Liberia, aiming to make it affordable for local consumers.
"Our aim is to make honey accessible to everyone in our community," Nigba explained. "With this grant, we plan to purchase a liquid filling machine that will allow us to produce high-quality honey at a price of just L$50 in local shops."
Reflecting on the competitive nature of the event, Nigba said, "The nine competitors in my category were exceptionally talented, presenting innovative ideas. Emerging as one of the top three finalists is a testament to the hard work of my entire team."
She credited her team's dedication for the achievement and expressed confidence in her business's future. "This win is not just about me; it's about the team that made it possible. We're committed to demonstrating our responsibility and delivering on our promises."
Another standout participant, Miamiatta-Fatima Kroma- CEO of Royal Farm, Grand Cape Mount, captivated the judges with her vision for revolutionizing Liberia's agricultural landscape. Kroma's venture specializes in raising high-yield goat breeds from southern Africa, aiming to address food insecurity and unemployment in the country.
"Liberia has the capacity to produce enough food to sustain our population," Ms. Kroma asserted. "It's disheartening that we rely so heavily on imports for basic necessities. My goal is to provide healthier, locally produced alternatives."
Currently focusing on South African and East African goat breeds, Kroma emphasized their advantages over traditional West African goats.
"These breeds produce more meat while maintaining the same price point--$5 per pound. Our plan is to package and distribute these products in local supermarkets," she explained.
Ms. Kroma's journey into entrepreneurship was driven by her desire to create opportunities for Liberians.
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"Seeing people constantly asking for help broke my heart," she shared. "I wanted to empower them with skills and opportunities to earn a decent living."
The USAID Agribusiness Incubator & Development Activity represents a broader shift in Liberia's entrepreneurial ecosystem, offering a platform for innovation, skill development, and economic empowerment. With a high success rate and a growing pool of alumni, it stands as a beacon of hope for small businesses navigating Liberia's challenging economic landscape.
The program's leaders and participants alike envision a future where such initiatives drive economic growth, create jobs, and foster self-reliance in Liberia.
As Jeke put it, "Entrepreneurship is not just about profits -- it's about creating opportunities, solving problems, and building a better future for our communities."
Director, Economic Growth USAID-Liberia, Megan Kyles, reminded the recipients of the grant of their roles in driving the Liberian economy. "What drives the economy is you, the (Business People) and as such you are expected to use the grant for the purpose for which it is intended. Expand your business so that it serves as encouragement for others in your community."
She however, encouraged grantees to go in their respective communities, and be able to impact others as their businesses expand.
