In a significant win for Teron Agro Limited, Taziona Chigwe emerged as the triumphant winner of the Standard Bank Phuka Incubation Program, securing a substantial K10 million for their groundbreaking floating fish feed project.
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Highlighting the impact of the program, Standard Bank CEO Phillip Madinga stated, “Agriculture is a crucial pillar in the country’s economy, and initiatives like the Phuka Business Incubation play a vital role in supporting innovative agribusiness ideas.”
Chigwe, selected from four Small and Medium Enterprises following a rigorous six-week business incubation program, expressed enthusiasm for utilizing the prize money.
He mentioned, “I will invest the K10 million in the production of floating fish feed, a key factor in our success.” This underlines the practical application of the awarded funds for furthering Teron Agro’s impactful endeavours.
The collaboration between Standard Bank, the Centre for Agricultural Transformation (CAT), and Synergy Labs has been integral to the program’s success.
Madinga explained, “We collaborated with CAT and Synergy Labs to empower entrepreneurs with skills, industry exposure, and investor connections, fostering a conducive environment for the growth of innovative agribusiness ventures.”
Executive Director for CAT, Macloud Nkhoma, emphasized the importance of mindset change in the agricultural sector, stating, “Partnerships are crucial for successful and sustainable interventions.”
This aligns with the broader goal of creating a supportive ecosystem for agribusiness development.
Standard Bank reiterates its commitment to driving the agribusiness value chain, with Madinga emphasizing, “Our dedication extends to fostering sustainability and growth in the sector.”
The Phuka Incubation Program stands as a testament to this commitment, providing a platform for entrepreneurs like Chigwe to thrive in the agricultural landscape.
