Orama leads JUA panel of judges

AFRICAN Export Import Bank president Benedict Oramah is to lead a 12-member panel of judges for the US$2 million Jua Fund (Jua) – a venture initiative to help regional entrepreneurs to kick-start or expand their businesses.

Afrexbank president Benedict Oramah

This comes as 25 projects – from a list of 700 applications and 22 countries – have been shortlisted for a March 01 to 05 adjudication event, and support under the endowment.

“Africa is the second most populous continent, but its contribution to global manufacturing… did not even reach two percent in 2020! For this… to change, it is important that Africa industrialise,” JNC Consulting Group chairperson and one of the judges Jeanica Onema said, adding “growth and development will not come from donors, and the public sector, whose role is to put in place policies for the private sector to flourish”.

“We need Africans… to encourage local entrepreneurship through coaching, mentoring and… rewarding the best projects. This will create a culture of entrepreneurship. By initiating… Jua, Adam Molai (has) confirmed his transformational leadership to change the paradigm..,” she said.

Brad Magrath, the Zoona founder and one of Zambia’s leading money transfer platforms, said: “I am honoured to be on the judging panel… as l want to pass on the experience l have gained as an entrepreneur. …when you take on investors and partners, it is not about how much money you get… (but) the quality and integrity of the person sitting across the table… Your business will thrive or die on the… people you surround yourself with.”

The other adjudicators, include Jua coordinator and Mota-Engil Construction director Mhanisi Malaba, fund representative and investment advisor Vera Baker, Cheryl Kisunzu from co-sponsors SIMBA Global StartUps, Afreximbank head of advisory services and capital markets Ibrahim Sagna, Andrew Lowe from Tuareg Energy, PanAfrican Capital Holdings chief executive Chris Oshiafi and Molai himself

“Without entrepreneurs, economies cannot grow and countries cannot advance. African entrepreneurs unfortunately do not get the support they need to thrive for a myriad of reasons. Yet Africa is full of enterprising people,” the Pacific Cigarette Company chairman said.

“Wherever there is adversity, there is opportunity. Africa is rife with adversity, wherever you turn business prospects are in abundance. Entrepreneurs provide solutions to societal challenges, whilst creating space for the advancement of their communities. I feel that Africa is… full of… opportunity than you would find elsewhere. I want to do everything in my power to ensure that this potential is cultivated and unleashed,” Molai said.

The African industrialist, who has successfully launched several global enterprises and had US$125 million worth of assets under his TRT Investments’ management in 2019, launched Jua – which means sunrise in KiSwahili – to inspire the continent’s entrepreneurs.

And today, Molai’s interests span the energy, beverages manufacturing, financial services and property development as well as transport and logistics sectors.

Meanwhile, about eight Kenyan enterprises, five start-ups from Nigeria and Zimbabwe are among the finalists for Africa’s largest fund by a private individual.

Additionally, applications from Ghana, Madagascar, Namibia, from Senegal, Sierra Leone and South Africa have made it to the list.