Downtown Africa
Africa’s Business Heroes (ABH) the flagship philanthropic program for the Jack Ma Foundation in Africa, has announced the top 50 finalists for the 2021 ABH prize competition. The Top 50 finalists were chosen from 12,000+ entries and selected by a prestigious pool of 233 judges. The Top 50 finalists came from 16 countries in Africa while 38% of them are female entrepreneurs. 10% of these Top 50 are from Francophone countries. From here, they will proceed to participate in an ABH virtual boot camp to engage with and learn from business leaders as well as previous ABH winners. The boot camp will prepare them for the next round of interviews with the Round 2 judges, after which the Top 20 will be identified and announced in August. The Top 10 will be announced in late September, before they go on to the grand finale where they will pitch live to global business legends and secure their share of the USD 1.5 million prize pool.
Apart from being in the running to win a share of USD 1.5 million in grant funding, these 50 African entrepreneurs will also gain invaluable networking and learning opportunities throughout their ABH journey. Since applications closed in early June, a prestigious pool of 233 judges have been reviewing thousands of applications from entrepreneurs across every country in Africa.
During this first round, judges were looking for visionary entrepreneurs who are providing innovative, robust solutions to problems in their communities. They were focused on identifying passionate professionals that demonstrated an exceptional work ethic, financial sustainability and growth potential.
Jason Pau, Executive Director of International, Jack Ma Foundation noted, “in the face of incredibly difficult conditions over the past year, Africa’s entrepreneurs have shown incredible resilience and innovation. The top 50 of the 2021 ABH competition are a true testament to this, and we are excited to support these talented entrepreneurs as they continue to grow and generate positive impact.”
The Sixteen countries represented in the Top 50 include Botswana, Cote d’Ivoire, the Democratic Republic of Congo (DRC), Egypt, Eritrea, Ethiopia, Ghana, Kenya, Madagascar, Nigeria, Rwanda, South Africa, Tanzania, Togo, Uganda and Zimbabwe. Nigeria has the largest cohort with 12 in the Top 50. There is an enormous diversity in the type of businesses, with sixteen different sectors represented including agriculture, beauty & wellness, construction, consulting, education, energy, environmental protection, financial services, F&B, healthcare, ICT, logistics, manufacturing, media & entertainment, retail and transportation.
The Africa’s Business Heroes prize competition is the flagship philanthropic initiative spearheaded by the Jack Ma Foundation, aimed at supporting and inspiring the next generation of African entrepreneurs across all sectors, building a more sustainable and inclusive economy for the future of the continent. Over a ten-year period, ABH will recognize 100 African entrepreneurs and commit to allocating grant funding, training programs, and support for the development of an entrepreneurial ecosystem. Each year, the ABH prize competition and show will feature ten finalists as they pitch their business to win a share of $1.5 million in grant money. Jack Ma, Founder of Alibaba Group and the Jack Ma Foundation, created the prize after he made his first trip to Africa in 2017 and was inspired by the energy and entrepreneurial potential of the young people he met.
This article was from a press release distributed by APO Group. You can start earning money by becoming our Independent Reporter or Contributor. Contact us at IR@downtownafrica.com
Want to read more about the Africa other media don’t usually focus on? Go to [https://downtownafrica.com/subscribe/]
