Supporting young Malagasy entrepreneurs

Earlier this year, six subsidiaries of the Castel Group launched the Pierre Castel Prize, an initiative aimed at promoting local entrepreneurship in each participating country.

The competition has provided vital support to young Malagasy entrepreneurs working in agriculture and industry. At the end of the week, the results of the 2024 edition were officially announced in the presence of Star’s new CEO, Matthieu Seguin. Six projects were shortlisted for the semifinals by the Castel Fund jury, with four standing out in particular.

The Tanamasoandro cooperative, represented by Hanitriniaina Mamitiana Andrianina, won first place for its project « Riz Golo », a ready-to-eat instant rice product. This project will receive a prize of 15,000 EUR and mentorship to boost production and improve equipment. Bio Source Farm, represented by Tendry Ny Aina Rasolomampionona, secured second place with a prize of 10,000 EUR for its project on raising black soldier flies to collect organic waste and will receive training in biotechnology.

The jury awarded the « Coup de coeur » prize to Moli Company, led by Tanjona Ranjarahy, a company specializing in the processing and sale of premium coffee. Moli Company received a grant of 5,000 EUR to expand its operations and modernize its equipment. Finally, Zoahary Baobab, represented by Voahary Lala Rakotondramiarana, received the Young Hopes Prize for its expertise in processing baobab fruit.

The top two winners will receive their official awards between September 27 and October 4 in Algiers. Zoahary Baobab’s training, after winning the Young Hopes Prize, will take place in Yamoussoukro, Côte d’Ivoire, from November 17 to 30.