Appletree Digital Commerce, an e-commerce startup, today presented the Taking One Million African Traders Online Movement (TOMATO), an innovative solution to the continent’s young unemployment.
“We came across some frightening data that motivated us to think differently about how we might deliver practical solutions to assist young Africans realize their entrepreneurial potential,” stated Mr. Nigel Daura, Managing Director of Appletree Digital Commerce.
Africa has 1.2 billion people and 36 of the world’s 40 youngest countries, according to The African Development Bank’s – The High 5 Jobs for Youth in Africa study. 420 million of Africa’s 1.2 billion population are between the ages of 15 and 35. By 2050, the continent’s young population is expected to have doubled, reaching over 850 million.
Furthermore, it is estimated that 10 to 12 million young people will enter the workforce each year.
While conventional business methods will not be able to keep up with the predicted expansion in Africa’s young population, the internet provides a wealth of options that we may profit from.
Only 3 million formal employment are generated each year, demonstrating the importance of teaching young Africans to think entrepreneurially and to take bold and deliberate efforts to promote small enterprises.
Growth follows the internet, according to The World Bank’s Exploring the Relationship Between Broadband and Economic Growth report, and studies show that GDP per capita growth is 2.7 to 3.9 percent greater following the adoption of broadband.
In developing countries, a ten-percentage-point increase in broadband coverage equals a 1.35-percentage-point boost in GDP. Broadband access can cut costs and boost profits in situations where it does not generate entirely new enterprises.
As a result, Appletree Digital Commerce has worked with technical partners from across the world who are industry experts in their fields to develop a digital ecosystem with the goal of bringing at least one million African traders (SME Retailers) online.
They predict that setting up an effective e-commerce system for a small business will cost around USD 5,000.
Most African SMEs cannot afford it, therefore they have set an ambitious aim of raising USD5 billion over the next ten years to enable them to provide USD5,000 subsidies in the form of e-commerce solutions to 1 million African SMEs.
As a first step, they have put together “The Africa’s Best Jobs Crowdfund Prize Draw” (www.Tomato.africa) with the help of selfless Zimbabwean individuals and businesses who support the vision.
The goal is to raise USD 263 million while also providing life-changing opportunities for 38 lucky individuals.
According to the International Finance Corporation (IFC) and the European Commission, the African e-commerce sector could gain roughly $14.5 billion if the number of women selling on online platforms equals that of males.
The industry would grow if female vendors were given more training and financial assistance.
“TOMATO came into being today to attempt to address some of these difficulties and give answers,” stated Nigel Daura.
THE FOLLOWING ARE PARTS OF THE GRAND PRIZE:
Fully Furnished Home in Harare’s #1 Postcode’s Exclusive Sectio
A guest lodge with 11 rooms and restaurants, as well as USD 250k in working capital
Toyota Land Cruiser Prado is a brand new Toyota Land Cruiser.
Lamborghini Gallardo Lamborghini Gallardo Lamborghini Gallardo Lamborghini Gallardo Lamborghini Gallardo Lamborghini Gallardo Lamborghini Gall
THERE ARE 37 MILESTONE PRIZES TO BE AWARDED:
Newly constructed, fully furnished apartment in a prestigious cluster development.
Brand new Toyota Hilux Xtra Cab USD 25k Salary for a year learning about e-commerce at Appletree Digital Commerce USD 25k Capital to start own e-commerce business For every USD 20 donated to the Crowdfund, the contributor will receive four MP3s of hit songs by local artists Tafadzwa, Mwenje Mathole, and Masa Caroleen, as well as an entry into the draw.
Please visit https://www.Tomato.africa/ for further information.