MK10 million up for grabs in Standard Bank Phuka pitch night

LILONGWE-(MaraviPost)-One young agriculture entrepreneur stands a chance to win K10 million as booster capital if they impress a panel of three judges at a Standard Bank-facilitated Phuka Pitch Night underway at BICC in Lilongwe.

The winner will be drawn from a group of five shortlisted agriculturally-linked SMEs who have completed a six-week business incubation program.

The Phuka Incubation program is a partnership between Standard Bank Plc and Lilongwe-based Synergy Labs.

The current cohort which attracted 46 candidates is in partnership with the Center for Agriculture Transformation (CAT).

“If we get the 10 million, it will go to the farmers to help them produce high quality groundnuts for peanut butter manufacturing, ” said Joe Gondwe of Theophilius Investments, one of the pitching SMEs.

Phuka or growth starter is the first business incubation program of its kind in Malawi.