Faith Adesemowo is One of RAE’s Africa Prize for Innovation Finalists
After recently shortlisting 16 African entrepreneurial innovators shaping the continent, amongst which were six Nigerians, the Royal Academy of Engineering’s Africa Prize has announced the finalists for one of the continent’s most prestigious engineering innovation awards – The Africa Prize for Engineering Innovation 2021.
Faith Adesemowo, the founder of Social Lender, is one of the four finalists for the 2021 edition of the highly coveted prize. Social Lender is a digital financial services solution that uses a Social Reputation Score to provide access to financing. As a finance specialist, Faith Adesemowo created the digital solution to provide financial access to Africans including farmers, students and small business owners. Since starting operation in 2014, the platform has impacted the lives of more than 100,000 customers in Nigeria and South Africa. Social Lender partners with service providers like banks, microfinance institutions, micro-insurance companies, and agricultural input companies to offer facilities based on Social Reputation Scores.
Other finalists include Indira Tsengiwe from South Africa, founder of BlueAvo; Noel N’ guessan from Cote d’Ivoire, founder, KubeKo; and Juka Fatou Darboe from The Gambia, founder of Make3D Medical.
Amongst the finalists, female innovators take up three slots. The finalists are creatives working to tackle inequality in the African media industry, provide financial services to people without access to banking, 3D print customizable Orthopaedic equipment for patients and solutions to help farmers generate income from biowaste.
The selection process included an eight-month exclusive training and mentoring after which four finalists were selected. The finalists will pitch their improved innovation and business plan to the judges and a live audience to compete for a €25,000 prize. The runners-up will be awarded €10,000 each.
Founded by the Royal Academy of Engineering, the Africa Prize for Engineering Innovation is Africa’s biggest prize aimed at boosting engineering innovation. The prize was launched in 2014 to stimulate, celebrate and reward engineering entrepreneurship in Africa.
The Africa Prize recognizes only ambitious and promising African innovators who are developing scalable engineering solutions to local challenges. It is generously sponsored by the UK Government’s Global Challenges Research Fund, having been supported by the Shell Centenary Scholarship Fund from 2014 to 2020.
The 2021 prize winner will be selected on the 8th of July 2021. Local supporters, engineering enthusiasts, entrepreneurs, and the media are encouraged to join the free virtual event. Speakers at the event will include Charles Murito, Director of Sub-Saharan Africa Government Affairs and Public Policy at Google; Sarah Burns, Chief Executive Officer and co-founder of NIA Crowdfund and Samuel Njuguna, founder of Chura and an alumnus of the Africa Prize.
The remaining 12 candidates from the 2021 Africa Prize shortlist are now eligible for a brand new One-to-Watch Award worth €5,000, which will be awarded based on the strength of their business pitch by the audience. The candidates – Jacob Azundah, Nigeria; Armelle Sidje, Cameroon; Elohor Thomas, Nigeria; Tshepo Mangoele, South Africa; Marie Ndieguene, Senegal; Eyram Amedzor, Ghana; Dr Atish Shah, Tanzania; Pazion Cherinet, Ethiopia; Olugbenga Olufemi Olubanjo, Nigeria; Taofeek Olalekan, Nigeria; Yusuf Bilesanmi, Nigeria; and George Boateng, Ghana, will compete for the public’s vote at the Africa Prize final on the 8th of July.
To register for the event, please visit raeng.org.uk.
The 2022 Application for the Africa Prize for Engineering Innovation is currently ongoing and will end on the 20th of July 2021. Individuals and small teams living and working in sub-Saharan Africa, with a scalable engineering innovation are invited to apply.
For more information, please visit raeng.org.uk.