By Adedapo Adesanya
Nigeria, alongside 13 other African countries, is among the top 20 finalists for the Jack Ma Foundation-promoted prize for entrepreneurs across the continent to showcase the best of their entrepreneurial spirit and drive for a chance to enter the Top 10 at the grand finale.
The 2020 Africa’s Business Heroes (ABH) prize competition, a flagship philanthropic program established by the Jack Ma Foundation’s Africa Netpreneur Prize Initiative (ANPI), has shortlisted the top 20 entrepreneurs who now have a chance to become one of the 10 entrepreneurs entering the grand finale, and competing for their share of the $1.5 million prize pool.
The top 20 entrepreneurs have come a long way from the pool of over 22,000 applications that ABH garnered from all 54 African nations earlier this year.
The organisers lauded the level of female representation, which stood at 55 per cent and noted that the average age of the group is 34. They represent 11 key sectors and industries of the African economy, such as agriculture, fashion, education, healthcare, manufacturing, e-commerce, renewable energy, financial services, food & beverage services, retail, transportation, and span 14 countries (Algeria, Benin, Cameroon, Cote d’Ivoire, Egypt, Ethiopia, Ghana, Kenya, Nigeria, Senegal, South Africa, Tanzania, Uganda, Zimbabwe).
Speaking on the initiative, Mr Jason Pau, Senior Advisor for International Programs with the Jack Ma Foundation, said “As we approach the final phases of the 2020 Africa’s Business Heroes competition, I am incredibly impressed by the talent and energy of the entrepreneurs we have met during the selection process.
“This is no surprise though, as we are aware of the strength of the entrepreneurial spirit of Africa and the unique drive of businesswomen and businessmen in the continent. This strengthens, even more, the commitment of the Jack Ma Foundation to spotlight today and tomorrow’s African entrepreneurs, supporting them while they build successful businesses and positively impact their local communities”.
On Tuesday, August 18, the top 20 Africa’s Business Heroes finalists had the opportunity to participate in a second virtual Bootcamp, a unique event to exchange and learn from inspiring personalities from the African entertainment, sports and entrepreneurship scene – including Ms Anita Erskine, UN SDG Advocate and ANPI’s Brand Ambassador and Official Host of “Africa’s Business Heroes” program; NBA Hall of Fame inductee and philanthropist Mr Dikembe Mutombo; Mr Sean Tong, Partner at Boyu Capital Advisory and Jack Ma Foundation’s Board Member; and the top three finalists from last year’s debut edition of ABH, Ms Temie Giwa-Tubosun, Mr Omar Sakr and Ms Christelle Kwizera.
Speakers at the Bootcamp webinar reminded candidates that despite the current unprecedented circumstances, entrepreneurs who can adapt, be flexible and react quickly will also be able to unlock opportunities. Discipline, passion and dedication are also essential elements to accomplish any dream and goal.
Moving forward in the competition, solid communications and storytelling will also be crucial for the finalists to illustrate their business in a compelling and clear way, bringing to life the values that set their business apart and create a positive impact on their communities and across Africa.
Highlighting the investor point of view, Mr Sean Tong emphasized that a great vision should always come with a relentless pursuit of excellence and execution.
He added: “I am very excited to see the excellent quality of the business projects at Africa’s Business Heroes this year, and the remarkable dedication and passion these entrepreneurs have put into turning them into successful and investable enterprises.
“While progressing through the competition, it will be very important for the candidates to demonstrate even more clearly the viability of their ventures and how they are able to match their vision with sustainability and profitability. I wish them all the best of luck on this journey and beyond – they are already Africa’s Business Heroes”.
The candidates will now progress to the semi-final stage of the competition and will face even more intense scrutiny from a 7-judge panel, which will test the solidity of their business plans, their motivation and vision, and ability to clearly articulate why the ground-breaking nature of their ideas can solve pressing problems and catalyse change for society, inspiring others to do the same.
The semi-final judges have been selected from amongst leading entrepreneurs, VCs and start-up accelerators, and distinguished public figures in Africa.
The selection process to spotlight the 2020 Africa’s Business Heroes finalists will continue over the next few weeks. Following the semi-final pitch, the top 10 finalist roster will be revealed in the next few months.
ABH will culminate in a grand finale show later this year, where the ten finalists will take the stage to pitch to business mavens, including Messrs Jack Ma, Joe Tsai, and Strive Masiyiwa.
Modupe Gbadeyanka