After 12 weeks of intensive investment readiness coaching, David Ngambi from Astanah Energy emerged as the recipient of a $5,000 investment during the Zambia Business Angels Network (ZBAN) end-of-year dinner, held on December 12, 2024. This milestone investment marks the culmination of the Mentorpitch Program, a collaborative initiative designed to equip Zambian startups with the tools and knowledge to successfully raise capital and scale their businesses.

The event kicked off with opening remarks from ZBAN Chairperson, Mr. Elias Chipimo, who emphasized the network’s vital role in supporting early-stage businesses. Vice-Chairperson Simunza Muyangana followed with insights into the origins and growth of the Mentorpitch Program, highlighting its success in preparing startups to navigate the investment landscape.

“Over the course of this program, our startups have gained invaluable mentorship and a clear understanding of how to raise funding and drive their businesses forward,” said Muyangana.

While David Ngambi’s Astanah Energy was the only startup to receive investment on the night, follow-up discussions are expected with other participating startups. These conversations could lead to future collaborations, partnerships, and additional funding opportunities.

The Mentorpitch Program, sponsored by ZBAN, TVC Labs, and BongoHive, aimed to prepare startups for investment by offering both one-on-one mentoring and group coaching. The program concluded with weekly pitch-back sessions, where participants presented their business ideas and received constructive feedback from a panel of 10 expert mentors.

BongoHive, along with its partners, remains committed to supporting Zambian entrepreneurs in their journey towards growth and investment. This successful partnership between BongoHive, ZBAN, and TVC Labs continues to drive innovation and economic progress within Zambia’s startup ecosystem.

Stay tuned for more updates on the Mentorpitch Program and the exciting opportunities it has unlocked for local entrepreneurs.