A Nigerian entrepreneur, Mahassin Quadri, has emerged winner of the Tony Elumelu Foundation 2018 (TEF 2018) fund competition. The 4th annual TEF entrepreneurship forum began on October 25, 2018 in Nigeria. It was on the second day of the conference that Mahassin Quadri, a lawyer won the pitch competition that featured 4 other startups who competed for the popular prize.

Her project, Cash Madam is an innovative solution created to help small and medium-sized enterprise owners in handling business challenges affecting revenue and business growth. Cash Madam, the startup’s app that launched in 2015, helps small and growing businesses to automate their operations to increase profit and grow.

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The app records pertinent business information using basic triggers to remind the user to take the best action and decisions. Cash Madam also has other embedded features which include, invoice generation, stock alerts and a daily report about revenue margins. It records information and uses them to make business recommendations to users.

Mahassin was announced winner after pitching her Cash Madam idea in the presence of more than 5.000 guest and eager entrepreneurs alongside waiting investors and government officials from about 3 countries. The company is said to have kept a low profile since the app was created, but has however participated in several competitions with the last one being the ‘Tech in Heels’ at the Lagos innovates competition in June this year. Nonetheless, her win has placed her on a global platform and a huge sum of $50.000 to take home.

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TEF is an African non-governmental organization founded in 2010 by Tony O. Elumelu with headquarters in Lagos Nigeria. The founder believes that with the right support, entrepreneurs can be empowered to contribute meaningfully to Africa’s prosperity and social development.

The TEF entrepreneurship forum remains the most inclusive come together of African entrepreneurs, with over 54 African countries represented, aimed at meeting with business leaders, established entrepreneurs and policymakers to share ideas and create solutions towards building and transforming Africa.

By Bitbeng Louis

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