Barclays Africa Group has launched an innovation challenge for youth entrepreneurs that will see the winner receive a Sh1 million cash prize and potential funding opportunity from investors.
Barclays Africa Chief Executive of Corporate and Investment Banking Stephen van Coller said challenge will help transform the supply chain transparency and lower the cost of doing business.
“The supply chain, the journey of a product from manufacturer to consumer is often disjointed and inefficient and there is currently a huge amount of interest in finding ways to increase the transparency of provenance, not least of which is the use of Blockchain technology.
Such technologies have substantial potential in creating transparency about the series of transactions that occur along any supply chain process,” Mr Coller said.
Supply Chain Challenge aims to tap ideas that drives the digital evolution on the continent and promote tech entrepreneurs in the region.
The announcement comes after the recent global launch of the Barclays Rise Innovation programme in which Barclays is partnering with innovators and entrepreneurs who drive technological disruption in the financial services sector.