Africa’s Business Heroes (ABH) has announced the commencement of its annual business pitch competition for entrepreneurs in 2024, aiming to support their growth and development. Sponsored by the Jack Ma Foundation and Alibaba Philanthropy, ABH seeks to spotlight, train, and celebrate Africa’s entrepreneurial talent.
Ms. Anysie Ishimwe, Community Development and Management Consultant at ABH, highlighted the initiative’s mission during a roadshow in Lagos, emphasizing its dedication to spotlighting and empowering African entrepreneurs. She noted the significance of the Nigerian entrepreneurial market to ABH’s goal of enabling 100 African Business Heroes to inspire millions more entrepreneurs.
Since its inception in 2019, the ABH prize competition has featured 10 entrepreneur finalists annually, pitching their businesses to vie for a share of US$1.5 million in grant money. Ishimwe stressed that eligibility is open to Africans from all 54 countries, regardless of age, industry sector, or gender, provided they meet strict criteria.
Applicants must be of African origin, with a legally registered African-based company operational for at least three years and a minimum revenue history of three years. Notably, Nigeria has emerged as a prominent participant in the ABH program, boasting the highest number of entries and beneficiaries.
Nigerian entrepreneurs have excelled in previous editions, with nine finalists among the top 10 winners in 2019, 2020, 2021, and 2023. These individuals have collectively secured substantial grants, showcasing Nigeria’s innovation and entrepreneurial spirit.
The breakdown of grant distribution includes $300,000 for the winner, $250,000 for the first runner-up, $150,000 for the second runner-up, and $100,000 each for the remaining seven finalists. Additionally, all 10 finalists receive a portion of the remaining $100,000 for further training programs.
Applications for the ABH 2024 edition are open from March 4, 2024, until May 19, 2024. Interested entrepreneurs can apply and find more information on the ABH 2024 website.
Among the Nigerian entrepreneurs who have benefited from ABH are Dr. Ikpeme Neto, Founder & CEO of Wellahealth, Dr. Tosan Mogbeyiteren, Founder of Black Swan Inc., Dr. Funmi Adewara, Founder of Mobihealth, and Dr. Chibuzo Opara, Founder of Drugstoc.
The Africa’s Business Heroes 2024 pitch competition presents a significant opportunity for African entrepreneurs to showcase their innovations and impact. With a track record of empowering entrepreneurs and driving economic growth, ABH continues to catalyze positive change across the continent. Nigerian entrepreneurs, in particular, have demonstrated exceptional talent and resilience, contributing to the vibrant entrepreneurial ecosystem fostered by ABH.
