A 21-year-old Kenyan is among 12 African finalists selected for the Kwese Gogettaz entrepreneurship competition semi- finalists.
Mr. Peter Wachira is the founder of A Remote Youth Venture where they develop a solution that purifies water using clay pots at an affordable cost.
According to Wachira, ceramic water filters enhanced with colloidal silver particles can save at least 3,000 lives yearly here in Kenya and create hundreds of jobs to the youth as well as eliminate approximately 99.88 per cent of all waterborne disease agents in Kenya.
If he wins the coveted Kshs 10.3 million, he intends to use 40 per cent of the money to acquire raw materials; 30 per cent to acquiring a vehicle so as to reach clients who are based in rural areas; 30 per cent to marketing, branding and operational costs.
The unit cost for one filter will be Sh 180 and retail price will be Sh 450. In their five year projection, they intend to sell 6000 filters which will grow to 1500 filters in the fifth year. Expected growth profit in the first year will be at Sh 353,000 which will grow to 2.6 million in the fifth year.
“I believe that if we were to win an investment in our business, we could potentially enrich, and save thousands of lives,” Wachira says.
Wachira who is among the 12 semi-finalist entrepreneurs includes both for-profit and not-for-profit businesses in six African countries: Democratic Republic of Congo, Ghana, Nigeria, Rwanda, South Africa, and Zimbabwe will pitch their ventures to a panel of judges and a live audience in Nairobi on Thursday.
They include: Pascal Akahome (Nigeria), Olalekan Bankole Emmanuel (Nigeria), Veridique Musambaghani Kakule (DRC), Dumisani Mahlangu (South Africa), Farai Nechikwira (Zimbabwe).
The female contestants include Abisola Akindeinde (Nigeria), Ivy Barley (Ghana), Blessing Machiya (Zimbabwe), Shola Peter (Nigeria), Uwitonze Sarah ( Rwanda) and Ezinne Uko (Nigeria).
Selected from over 4,800 entries, the six top finalists (three men and three women) will then proceed on Friday to the Strathmore University to take part in a grand finale pitch contest to win Kshs 10.3 million in investments and a two-week mentorship programme with Econet Global founder, Strive Masiyiwa at Kwesé offices in South Africa.
Their ventures will be assessed on their business or non-profits’ sustainability, originality, social benefit, and scalability.