In a remarkable celebration of innovation, resilience, and empowerment, three women entrepreneurs Thursday emerged winners of the Phuka Pitch Night by Standard Bank Plc.
The trio was part of the second cohort of the 2024 Phuka Incubator, a Standard Bank-led initiative in partnership with GIZ, Winrock International and the United States Department of Agriculture (USDA).
Dedza-based Mercy Esau trading as Tilime Honey Produce emerged as the top winner followed by Chimwemwe Samson of Tatiya Foods and Rosette Chakachadza of Hopmac. As the overall winner, Esau received K10 million from Standard Bank while the other two received K8.7 million ($5,000) in agriculture grants, respectively.
“I am excited but at the same time this is a challenge for me to work harder than before to meet the growing demand for honey on the local and international markets,” said Esau.
She thanked Standard Bank and partners for the Phuka Incubator initiative as it is helping many start-ups to grow and achieve high quality standards of their products for the markets.
“At Tilime Honey, our priority is to have a sustainable water source for the apiary to deal with water shortages and achieve supply consistency to address climate change,” she said.
Standard Bank Head of Business and Commercial Banking Graham Chipande said that women in agribusiness are critical to the economy’s growth and need support.
“We are committed to supporting women entrepreneurs, particularly in sectors critical to the economy. Agriculture plays a vital role in our nation’s growth, and women have the power to revolutionize this industry, therefore, Phuka is empowering them to succeed in the agribusiness sector,” said Chipande.
The Phuka incubator Hub is part of Standard Bank’s broader commitment to fostering inclusive economic growth and ensuring that women have access to the resources they need to thrive.
“Over the past six weeks, these women have demonstrated incredible resilience, innovation, and a passion for making a difference. By providing training and mentorship to women in agribusiness, Standard Bank is helping to create more resilient and sustainable businesses and contributing to the broader goals of sustainable and innovative agribusiness practices,” he said.
According to Standard Bank, Phuka Hub has proven to be effective in helping women explore their potential among many challenges. The bank is optimistic that the skills and knowledge acquired in the six-week program will help women in agribusiness to thrive.
Winrock International Chief of Party for Mtengo Project, Lilia Tverdun is optimistic that the partnership with Standard Bank will empower women in agriculture to contribute to the economy.
“Winrock International is happy to partner with Standard Bank for this year’s Phuka Program. This initiative is essential for inclusive economic growth enabling women to contribute towards economic development,” said Tverdun.
This year, Phuka Incubator Hub graduated 32 women entrepreneurs who are adding value and enhancing innovation in agribusiness.
