African Diaspora Marketplace III Business Plan Competition Update

Congratulations to the semi-finalists of the ADM III Business Plan Competition!

The first round of the ADM III business plan competition, the Concept Note Phase, was particularly rigorous this year, with over 400 applications competing for approximately 100 invitations to the Second Round, the Business Plan Phase. After intensive reviews by judges with extensive backgrounds in different business sectors in Africa, 100 entrepreneurs were invited to submit detailed business plans.

The Business Plan Phase opened April 22, 2015 for selected entrepreneurs and the deadline to submit business plans is May 20, 2015.

This year, we received applications from a diverse pool of entrepreneurs from thirty-five (35) countries with ventures representing a broad range of sectors and different business stages. To learn more about the ADM III entrepreneurs who submitted applications for their ventures in the Concept Note Phase, please click here for a breakdown of metrics. Please check back; additional information about the Business Plan Phase will be added as details become available.

ADM Success Story: Comprehensive Design Services

The start of 2015 has brought great successes for ADM II awardee, Comprehensive Design Services (CDS). This Nigerian based company provides responsive and responsible design, engineering, and project management services for sustainable housing projects. The company’s most important project, the Passive House Prototype (PHP), offers a vehicle for widespread use of renewable energy and provision of affordable housing, while enhancing the beauty and livability of the Nigerian built home. For more information, please click here.

Press Release: ADM Awardee, Sardis Enterprises, Begins Exporting to Whole Foods

ADM II Awardee, Sardis Enterprises International, has successfully begun exporting pineapples from the central coastal region of Ghana to Whole Foods stores in the U.S. Sardis received initial orders for its flagship product, the Ashanti Pineapple, from select Whole Foods stores in the Southeast region of the U.S. and delivered the shipment in January 2014. Sardis hopes to eventually expand its distribution chain to Whole Foods stores across the U.S.  SEI’s farmers’ cooperatives use natural fertilizing methods and chemicals and the company ultimately hopes to create a strong brand for Ashanti produce to help support local farmers. For more information on Sardis’ partnership with Whole Foods Market, click here to view the full press release or here to read the USAID blog post about this partnership.

ADM Awardee featured as Guest Panelist at JICA Symposium

On February 3, 2014, Chinwe Ohajukruka, and ADM II awardee, participated in a symposium sponsored by the Japan International Cooperation Agency (JICA) and the City of Yokohama to discuss strategies to empower and promote connections between businesswomen in Africa and Japan.  The event, “Growing Together with the Rising Women of Africa,” was held at the Yokohama Symposium in Naka-ku, Yokohama. For more information on the event, click here.

SME Live Banking Forum

The second SME Live Banking Forum was held in Lagos, Nigeria on November 4-5, 2013. The event was organized in conjunction with the Bank of Industry, and ADM-sponsors Western Union and USAID.

The event featured 14 banks and 107 attendees, compared to nine banks and 72 attendees from the 2012 event. Both ADM I and ADM II Awardees were invited to the 2nd Annual SME Live Banking Forum, in addition to more than 120 SMEs.

The two-day forum provided companies with the opportunity to pitch their businesses directly to multiple banking institutions in an effort to raise debt financing for their companies. Through this one-of-a-kind event, SMEs operating in Nigeria and across Sub-Saharan Africa had direct access to financial institutions and support providers.

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ADM Updates

Opportunities in Africa: Spotlight on Black America - Africa Business Collaboration

According to the IMF, 7 of the world's 10 fastest growing economies in the next 5 years will come from Africa. Currently, USA-Africa trade relations as well as foreign direct investments to Africa are on an upward trajectory. The unprecedented inflow of capital and economic growth (around 5% annual growth rate over the past decade) has marked a new era for Africa, making it possible for resources and opportunities to intersect. Click here

Powering Agriculture: An Energy Grand Challenge for Development Semifinalists Announced

The Powering Agriculture: An Energy Grand Challenge for Development (PAEGC) received 871 applications for its second Global Innovation Call. The Founding Partners are pleased to announce that 106 out of the 871 applicants have been invited to submit Stage 2 Full Proposals by April 30th! Please click here.

Angelle B. Kwemo Congratulates the First 1000 Tony Elumelu Entrepreneurship Program

LAGOS, NIGERIA- Angelle B. Kwemo, Founder & Chair, Believe in Africa (BIA) and Managing Director & CEO, Rimsom Strategies, Ltd., joins the Tony Elumelu Entrepreneurship Program Selection Committee (TEEP) members to congratulate the 1000 entrepreneurs who will participate in the TEEP 2015 class. Click here.

NOC Unveils Tanker Tracking System

One of the leading petroleum companies in Ethiopia, National Oil Ethiopia (NOC), unveiled a new tanker tracking system on Thursday. The new system will enable the company to locate tanker trucks, protect fuel adultery and monitor the behavior of drivers. Click here

List of Minority Business Development Agency (MBDA) Centers

Minority Business Development Agency (MBDA) Centers are available to provide assistance to African Diaspora Entrepreneurs with preparing their business plan application for the African Diaspora Marketplace (ADM III) Business Plan Competition.  Please click here for the contact details of an MBDA-Center in your area.

Beyond Grants: U.S. Program for Diaspora Businesses Grows Up

The African Diaspora Marketplace, an Initiative that helps small to mid-size businesses break into Africa, has returned this year with a newly refined focus on keeping projects alive over the long-haul. Born in 2009 from a partnership between the U.S. Agency for International Development (USAID) and Western Union, the initiative hosts a biennial competition for startups and established businesses hoping to expand into one or more of the 29 selected African countries. To be eligible, applicants must be able to demonstrate their African heritage. Click here

Grants for African Entrepreneurs in Diaspora- ADM

The African Diaspora Marketplace (ADM) was launched in 2009 by the United States Agency for International Development (USAID) and Western Union. Its primary purpose is “to encourage sustainable economic growth and employment by supporting African diaspora entrepreneurs.” Click here.

Welcome to the ADM News and Updates page. Check back often as we add new items. 

Cape Verde is now part of the ADM III. Click here.

African Diaspora Marketplace III Launch Event in Philadelphia, PA. Click here.

Africa Strictly Business: African Diaspora Marketplace Launches Third Round. Click here.

29 August, 2014: ADM featured by Concordia as a P3 Impact Award finalist. Winner will be announced at this year's Concordia Summit on September 29th in New York City.

13 December, 2013: Western Union to discuss first steps to overcoming SME challenges to access finance the Kenya Diaspora Conference, December 14.

21 August, 2013: 2nd Annual SME Live Bank Panel Forum to be held again in Lagos, Nigeria in November 2013 read more and sign up here!

USAID and Western Union Extend Libya Diaspora Marketplace Deadline to June 24, 2013 read more>>>

Cape Verde is now part of the ADM program! Please click here to see a picture of Ambassador of Cape Verde to the US Fatima Veiga and the ADM Team.

LDM FAQs read more>>

LDM press release - Arabic read more>>

8 April 2013: USAID and Western Union Launch the Libya Diaspora Marketplace! read more>>

Cape Verde is now part of the ADM program!

15 March 2013: Installation of a Power Pallet Biomas Generator at Booker Washington Institute, Liberia read more>>

19 Nov 2012: BOI, Western Union and USAID Hold SME Live-Banking Forum read more>> 

17 Nov 2012: The Tony Elumelu Foundation, Western Union and USAID host the African Diaspora Marketplace Investment Event read more>>

Watch Global Culture TV's coverage of the ADM II here.

Since its inception the African Diaspora Marketplace has supported SME development throughout Africa, with programs such as:

  • ADM I, a business plan competition which provided matched grant funding for 14 SMEs in 7 countries (2009-2010)
  • ADM II, a business plan competition which has provided matched grant funding, technical assistance and linkages to other sources of financing for ADM participants (2011-2012)
  • Tony Elumelu Foundation (TEF) 2nd Round Investment event, provided the opportunity for 17 SMEs to pitch their businesses for equity and social impact investment (2012)
  • Bank of Industry (BOI) ADM Live Banking Forum, created access to 8 competing Pan-African banks for entrepreneurs to pitch their business plans for SME loans and other financing (2012)
  • Libya Diaspora Marketplace (LDM), encouraging SME growth and employment following a time of change (2013)
  • TEF and BOI ADM financing events, details to be announced for November 2013

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