ABH launches fifth edition Prize Competition worth $1.5mln

Addis Ababa, March 6, 2023 (FBC) – The Africa’s Business Heroes (ABH) Prize Competition, a philanthropic initiative sponsored by the Jack Ma Foundation and Alibaba Philanthropy, has launched its fifth annual edition and calls for participation from Africa’s entrepreneurial talent.

According to ABH the initiatives is part of the Jack Ma Foundation’s long-term commitment to helping support and foster an inclusive and strong entrepreneurial ecosystem in Africa.

ABH stated that the 2023 prize competition aims to identify, support, and inspire the next generation of African entrepreneurs who are making an impact in their local communities, working to solve the most pressing problems, and building a more sustainable and inclusive economy for the future.

It added every year since 2019, ABH conducts a continent-wide search with its partners for 10 outstanding, mission-driven entrepreneurs that are striving to make a difference in their local communities.

ABH disclosed that entrepreneurs from all 54 African countries, across every sector, gender and age group and all levels of society are encouraged to submit their applications, in either English or French, for a chance to become one of the top 10 finalists to compete for a share of US$1.5 million in grant money.

ABH explained that at the Grand Finale to be held later this year, the 10 finalists will take the stage to present their businesses to a panel of legendary businesspeople.

It further explained the journey to the finale will also include access to a community of international business leaders and innovators, industry experts, investors and accelerators, as well as multi-disciplinary bootcamps and training sessions to help the participating entrepreneurs take their businesses to the next level.

“At ABH, we have long recognized the potential of entrepreneurs as engines of economic and social growth. Now in the fifth year of the competition, we are encouraged to see that ABH has grown into a truly Pan-African initiative that is positively impacting the continent’s entrepreneurship landscape, said Zahra Baitie-Boateng, Head of Partnerships and Programs of ABH.

Applications will be open online until May 12, 2023, with the top 50 candidates announced in July, semi-finalists announced in August, and the top 10 finalists unveiled in September, ABH announced.

By: Yonathan Yoseph