EMpact has collaborated with the International University of Grand Bassam and Institut National Polytechnique Félix Houphouët-Boigny to create a venture studio focused on creating startups that serve agricultural value chains in Côte d’Ivoire. Sami Lahoud, Co-Founder and CEO of EMpact joins CNBC Africa to discuss the impact of this development
EMpact, a venture studio focused on creating startups that serve agricultural value chains in Côte d’Ivoire, has recently collaborated with the International University of Grand Bassam and Institut National Polytechnique Félix Houphouët-Boigny to launch its first venture on the African continent.
The co-founder and CEO of EMpact, Sami Lahoud, discussed the significance of this development in an exclusive interview with CNBC Africa. Lahoud highlighted the challenges facing agricultural value chains globally and the importance of entrepreneurship, job creation, and attracting investments in frontier markets. With a focus on West Africa, particularly Francophone Africa and Ghana, as well as Central America and Central Asia, EMpact aims to create startups that address the needs of the agricultural value chains and increase the resilience of the value chain within countries.
The venture studio partners with universities to access talent and faculty, enabling them to put together teams that develop solutions for key players in the ag value chain. Lahoud emphasized the importance of addressing the inefficiencies in the agricultural sector, citing the example of cocoa production in Côte d’Ivoire and Ghana.
Despite producing a significant portion of the world’s cocoa, the combined value of these two countries remains low compared to global cocoa sales.
Through the collaboration with universities and local talent, EMpact seeks to create investable startups and job opportunities for young individuals in Africa
