Following a rigorous selection process, involving more than 700 applicants from 26 countries across Africa, the top three finalists in the MTN Entrepreneurship Challenge, powered by Jumia, have been revealed. They are Pass.ng (Nigeria), MedRX (Ghana) and Vicoba (Tanzania).

According to information supplied by challenge organisers, Pass.ng is a web, desktop and mobile-based CBT examination preparatory and testing platform, with a vision to help candidates excel in all the major Nigerian examinations and tests.

MedRx app is an interactive health platform for all users who have health needs. The app connects users to health personnel from various fields of practice including hospital, pharmacy, laboratory and academia.

Vicoba (Village Community Banks) are an important instrument of development work, allowing people who do not have access to conventional bank accounts, to access informal investment groups. Vicoba app creates a collaborative platform that includes existing tools for financial and task management in a way that is adapted for the African market.

Organisers say the challenge aims to boost entrepreneurship and innovation, as well as build a stronger and more sustainable business environment on the continent.

It kicked off in February, and is a joint initiative between MTN, Jumia and the MTN Solution Space based at the University of Cape Town Graduate School of Business.

"Over the past few weeks, the ideas were narrowed down, with 11 Live Pitch events taking place from Cameroon to South Africa, to shortlist the top candidates who will eventually pitch their business ideas at the Entrepreneurship Festival in Cape Town in May 2016," say organisers.

Quality candidates

MTN Solution Space Manager, Sarah-Anne Arnold, congratulated the winners and commented: "Universities are resource-rich, highly networked and create opportunities for students to find like-minded co-founders and explore and develop new opportunities together, and are therefore the ideal environments to encourage entrepreneurs. This was shown by the amazing talent that emerged during the incredible week of Live Pitches which took place across campuses in 11 countries, in collaboration with partner universities and sponsors. Congratulations and best of luck to the finalists."

Bankole Cardoso, the Head of Communications at Africa Internet Group added, "From the application phase, we were very impressed with the high quality business models and it was not at all easy for the judges to select from so many promising businesses. Over the last week, we have held over 100 live pitches and given young entrepreneurs across the continent a platform to showcase their business ideas and even more importantly, to receive critical feedback from experienced professionals on our judging panels. The gaps in the African entrepreneurship ecosystem are in capital and mentorship so it was great to undergo an exercise like this that will no doubt force them to improve. I now look forward to working closely with these three finalist teams to prepare them for what's to come in Cape Town. It is an incredible opportunity for all of them to propel themselves to the next level."

The winners will be announced at the Entrepreneurship Festival with the top team being awarded the opportunity for incubation at the premises of either the MTN Solution Space at the University of Cape Town Graduate School of Business, or at one of 9 Jumia offices across the continent.

The winner will also win a cash prize of US$25 000 towards their start-up and have access to a Facebook Start Programme to the value of US$15 000, which includes tools and services needed to build mobile applications.