PEPZ stands for Private Enterprise Programme Zambia, a 5 year initiative currently being backed by the UK’s Department for International Development to help micro and small medium entrepreneurs and startups with their businesses.
PEPZ helps viable entrepreneurs with access to business development strategies, developmental plans and more. It has thus introduced a business plan competition called “Nyamuka Zambia” that will fund deserving startups.
The main points that were shared on this by Shalin Jethi, Manager – Business Plan Competition were:
- PEPZ supports SMEs and Zambia has a healthy business environment but they are stuck when it comes to being invested in for them to grow to their full potential.
- PEPZ is targeting a ‘transformative entrepreneur‘. Transformative entrepreneurs are those who want to keep a business going forward and don’t just want profits that are enough for that particular day. These are entrepreneurs that continue to be innovative and grow their business beyond their startup point.
- As long as you’re over 18, have an existing or startup business of any kind, you can apply for the Nyamuka Zambia business plan competition.
- The Nyamuka initiative will be launched on the 26th of February and that’s when applications will be open to startup entrepreneurs. If you’re innovative enough with your business, you may win the financial backing
- Nyamuka will consider all types of business ideas. there is no specific sector. As long as it’s innovative and sustainable, it may take part.
- Applications will be screened for eligibility, judged and proceed to the next stage, where you’ll be helped to develop your business plan.
- There will be a 3rd stage of about 20 ideas that will be further helped to develop before winners are announced in the final round.
- The top prize for Nyamuka is $200, 000 and bottom price given to 15 businesses is at $75,000 each.
- The business competition will run for 3 rounds 2015, 2016 and 2017 but more sponsors (e.g government) are needed to join in for the long term benefit of the country as a whole seeing as these business will provide employment opportunities and revenue for the country to.
- Entry fee for Nyamuka is K150 which will be returned tenfold in terms of the business advice that you will get throughout the entire competition.
We think this is a great chance for the many startups in the country that are desperately in need of funding right now. If you’re one of them, follow this link:
We can’t wait to see the ideas that will be shared on this platform. We expect to see atleast many tech startups present as well.