Africa’s Business Heroes offers $1.5m to support entrepreneurs in 2024 pitch competition 

Business a.m.

The quest for Africa’s entrepreneurial greatness is back in full swing as Africa’s Business Heroes (ABH) unveils its highly anticipated 2024 business pitch competition. With the support of renowned philanthropic leaders, the Jack Ma Foundation and Alibaba Philanthropy, the competition aspires to uncover, nurture, and celebrate the most brilliant minds driving Africa’s entrepreneurial landscape.

Anysie Ishimwe, community development and management consultant at ABH, underscored the initiative’s determination to provide a platform for African entrepreneurs to shine. Speaking at an information session in Lagos, she dwelled on the significance of Nigerian entrepreneurs in achieving ABH’s mission of creating 100 African Business Heroes.

Celebrating the power of African entrepreneurship since its launch in 2019, the ABH  prize competition has consistently given 10 African business leaders the chance to compete for the share of $1.5 million in grant money each year. Ishimwe, pointed out the competition’s openness to African entrepreneurs of all ages, from every industry sector and gender, provided they meet the strict eligibility criteria.

Nigerian entrepreneurs have consistently demonstrated their business acumen and pioneering spirit as evidenced in previous editions of the ABH programme where Nigerian entrepreneurs recorded the highest number of entries and beneficiaries.  Notably, nine of the ten winners in the 2019, 2020, 2021, and 2023 editions of Africa’s Business Heroes (ABH) prize competition hailed from the West African nation, serving as a shining example of the country’s creativity, determination, and entrepreneurial prowess. 

Among the Nigerian entrepreneurs who have benefited from ABH are  Ikpeme Neto, Founder & CEO of Wellahealth, Tosan Mogbeyiteren, founder of Black Swan Inc., Funmi Adewara, founder of Mobihealth, and  Chibuzo Opara, founder of Drugstoc. The renowned entrepreneurs were present to share their experiences and further enlighten upcoming participants at the information session.

According to the organisers, applicants for the  ABH prize competition must have an African-based company that has been operational for at least three years and generated minimum revenue of three years.

Business a.m. gathered that the ABH prize competition not only offers prestige and a platform for entrepreneurial success, but it also rewards its top performers with substantial grants. Rising entrepreneurs across Africa are invited to showcase their business prowess in the 2024 edition. With the application window open until May 19, 2024, innovators with a passion for driving change in their communities and industries have the opportunity to make their mark on the continent’s thriving entrepreneurial landscape.

The Africa’s Business Heroes (ABH) competition offers the following awards:

– The winner takes home $300,000.

– The first runner-up receives $250,000.

– The second runner-up is rewarded with $150,000.

– Each of the remaining seven finalists earns $100,000.

– All ten finalists receive a portion of the remaining $100,000 for further training programmes.

The application process, which began on March 4, 2024, can be accessed through the  ABH 2024 website.