MADAA: Fueling the Future of Home-grown Innovation, Entrepreneurs in Africa 

To empower entrepreneurs, social innovators and researchers with ideas to transform and scale their ideas and businesses, the Sahara Group Foundation recently launched an ambitious initiative tagged ‘Making A Difference Around Africa’, MADAA. Chiemelie Ezeobi writesthat withaccess to robust resources, including financial and

investment support worth 100 million dollars and mentorship from seasoned industry experts, selected beneficiaries are expected to thrive and drive economic progress in the continent 

The Sahara Group Foundation, the social impact arm of the energy conglomerate Sahara Group, has launched an ambitious initiative titled “Making A Difference Around Africa” (MADAA). 

This transformative program seeks to identify and support home-grown innovations and entrepreneurs poised to drive Africa’s economic progress. With an overarching goal of sustainable development, MADAA is a testament to Sahara Group Foundation’s commitment to fostering entrepreneurial ecosystems across the continent.

By combining financial support, mentorship, and a focus on sustainability, the initiative is poised to make a significant impact on the continent’s economic development as the program’s emphasis on local resources and integrated ecosystems ensures that its benefits are felt at all levels of society.

MADAA’s Vision of Transformative Extrapreneurship 

In line with its overarching transformative Extrapreneurship model, the foundation flagged off MADAA to give wings to the aspirations of African entrepreneurs as the concept was designed to merge entrepreneurship with social impact. 

Essentially, this model is targeted at going beyond profit generation by embedding social good into business practices. Thus, the initiative was officially launched in a high-profile event that drew participation from corporate leaders, budding entrepreneurs, and media representatives in Lagos. 

Speaking at the unveiling, Chidilim Menakaya, Head of Programs at Sahara Group Foundation, articulated the vision behind MADAA. “MADAA is a strategic platform developed by Sahara Group Foundation to identify entrepreneurs and social innovators who are on the cusp of greatness,” she said, adding that the initiative is positioned to provide the necessary impetus for these individuals to scale their ideas and businesses to unprecedented heights.

The emphasis on sustainability and local resources marks a distinct approach in MADAA’s implementation. The initiative is not merely about financial support; it aims to build a self-sustaining ecosystem where innovation can thrive. 

Entrepreneurs selected for the program will have the opportunity to refine their business models, receive mentorship, and gain access to investment capital that could transform their ventures

MADAA’s launch comes amid Sahara Group Foundation’s drive for inclusiveness and progressive partnerships that promote expansion, business advisory, and capacity

development in the Medium Small and Micro Enterprises (MSMEs) sector across the

continent.

 “MADAA seeks to support African home-grown innovations and businesses

to succeed, scale and thrive sustainably, thereby establishing an integrated ecosystem of collaborators actively contributing toward transforming economic development in

Africa,” Menakaya added.

She further stated that MADAA’s initiative underscores Sahara Group

Foundation’s unwavering commitment to “building sustainable communities through Extrapreneurship,” and represents the first project amongst an array of curated social interventions designed to promote sustainable development in Africa “by growing and

scaling the base of entrepreneurs who have exceptional ideas that can transform the continent’s economic fortunes”.

Empowering the Next Generation of Entrepreneurs

One of the most compelling aspects of MADAA is its focus on empowering young African entrepreneurs given that the continent is home to a burgeoning population of youth, many of whom are brimming with innovative ideas but lack the resources and mentorship to bring those ideas to life. 

This lacuna is what MADAA aims to bridge by offering robust resources tailored to the unique challenges faced by African startups.

Process

The initiative’s application process, which runs until the end of November 2024, is open to entrepreneurs across the continent. This inclusiveness ensures that no promising idea is left unexplored due to geographical or socio-economic barriers. The goal is to create a pipeline of talent and innovation that can be harnessed to drive economic growth in various sectors.

Selected candidates will benefit from a comprehensive program that includes financial investment, mentorship, and business advisory services. The financial support, worth $100 million, is a significant commitment aimed at nurturing small and medium-sized enterprises (SMEs) that have the potential to make a lasting impact.

 This funding will help entrepreneurs navigate the often challenging early stages of business development, allowing them to focus on innovation and growth.

Strategic Focus on Sustainability and Home-grown Solutions

For MADAA, the emphasis on sustainability and the use of locally available resources is a key differentiator as the initiative seeks to promote businesses that can operate sustainably within their environments, leveraging local assets to create value. 

The goal is to ensure the long-term viability of the businesses but also contribute to the broader goal of sustainable development in Africa.

According to Menakaya, “We are actively on the lookout for the extraordinary, the unusual, those whose business ideas can be nursed to fruition sustainably.” This focus on sustainability is in line with global trends emphasising the need for businesses to adopt environmentally friendly practices and contribute to the communities in which they operate.

By encouraging entrepreneurs to utilise local resources, MADAA also aims to foster a sense of ownership and responsibility. This localised approach ensures that the benefits of economic growth are felt at the grassroots level, contributing to the overall development of the communities involved.

Building an Integrated Ecosystem for Economic Growth

MADAA is more than just an initiative; it is a movement aimed at creating an integrated ecosystem of innovation and collaboration. The program’s design facilitates partnerships between entrepreneurs, investors, and industry experts, creating a network that can support business growth and sustainability.

This ecosystem approach is crucial in addressing the multifaceted challenges faced by African entrepreneurs. By providing a platform for collaboration, MADAA helps to break down silos and encourages the sharing of knowledge and resources. This collaborative spirit is essential in building resilient businesses that can withstand the challenges of operating in dynamic markets.

The initiative also places a strong emphasis on capacity development. Through mentorship and training, MADAA aims to equip entrepreneurs with the skills and knowledge they need to succeed. This includes not only technical skills related to their specific industries but also broader business management skills such as financial planning, marketing, and leadership.

Expectations

As the application process for MADAA unfolds, anticipation is building around the potential impact of this initiative. The selection of candidates will begin in December, with the actual program set to commence in the first quarter of 2025. The program’s beneficiaries will have the opportunity to transform their ideas into thriving businesses, contributing to the economic development of their respective regions.

Essentially, the launch of MADAA comes at a critical time for Africa when the continent is undergoing rapid economic and social transformation. This is where the growing recognition of the role that entrepreneurship can play in driving this progress, should take centre stage.

Interestingly, initiatives like MADAA are essential in harnessing the potential of African entrepreneurs and ensuring that their innovations contribute to sustainable development. This is in line with the broader vision of Sahara Group Foundation to create a ripple effect that goes beyond the immediate beneficiaries of MADAA by building a strong base of successful entrepreneurs.

While the journey for MADAA is just beginning, its potential to transform the entrepreneurial landscape in Africa is immense because by giving wings to the aspirations of African entrepreneurs, MADAA is not just making a difference around Africa; it is shaping the future of the continent.

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MADAA seeks to support African home-grown innovations and businesses

to succeed, scale and thrive sustainably, thereby establishing an integrated ecosystem of collaborators actively contributing toward transforming economic development in Africa