Asia Business Group Alibaba is strengthening its efforts to groom more entrepreneurs from Africa.
To this end, the firm has opened applications for its fifth Africa’s Business Heroes(ABH) Prize competition.
ABH is a philanthropic initiative sponsored by the Jack Ma Foundation and Alibaba Philanthropy to support entrepreneurs from 54 African countries.
Over 10 years, ABH will recognise a total of 100 African entrepreneurs.
“At ABH, we have long recognised the potential of entrepreneurs as engines of economic and social growth. We are encouraged to see that ABH has grown into a truly Pan-African initiative that is positively impacting the continent’s entrepreneurship landscape. We are extremely impressed with the increasing diversity of our Heroes and how they’ve been taking tangible steps to solve some of Africa’s most challenging issues, ” Head of Partnerships & Programmes of ABH, Zahra Baitie-Boateng said.
At the grand finale later this year, the 10 finalists would present their businesses to a panel of legendary business people.
Apart from grant, mentorship and networking opportunities, ABH creates a television show every year which follows the finalists of the previous year on their exciting journey to the Grand Finale, featuring their on-stage pitches as well as behind-the-scenes moments.
Over 72,000 entrepreneurs have participated in the ABH Prize Competition.
The 10 outstanding finalists for 2022 were chosen from over 21,000 applicants from 54 African countries, representing a broad spectrum of industries, including agriculture, consulting, energy environmental protection, healthcare, information and communication technology (ICT), and retail.
The contest is Pan-African, inclusive, sector-agnostic and grassroots-oriented.
Entrepreneurs in Africa, across every sector, gender and age group and 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 $1.5 million grant.
Applications are open until May 12, this year, with the top 50 candidates announced in July, semi-finalists announced in August and the top 10 finalists unveiled in September.