Africa’s Business Heroes announce 2024 $1.5m business pitch for entrepreneurs

By Rukayat Moisemhe

Africa’s Business Heroes (ABH) has announced the 2024 edition of its annual business pitch competition for entrepreneurs, to support their growth and development.

The News Agency of Nigeria (NAN) reports that ABH prize competition is a pan-Africa philanthropic initiative sponsored by the Jack Ma Foundation and Alibaba Philanthropy.

Ms Anysie Ishimwe, Community Development and Management Consultant, ABH, at a roadshow in Lagos, said the initiative aim was to spotlight, train and celebrate Africa’s entrepreneurs.

Ishimwe stated that the Nigeria entrepreneurial market was very important to ABH as it strives to enable 100 African Business Heroes inspire millions more entrepreneurs.

She noted that since 2019, each year the ABH prize competition features 10 entrepreneur finalists as they pitch their business to win a share of US$1.5 million in grant money.

“ABH is looking for African entrepreneurial heroes creating an impact in their communities and building a more inclusive economy for the future.

“Africans from all 54 African countries are eligible to apply irrespective of age, industry sector or gender; though applicants have to meet a strict set of criteria,” she said.

Ishimwe stressed that the applicants must be of African origin, with a legally registered African based company, operational for at least three years and has at least three years of revenue history.

She noted that Nigeria stands out as the country with the highest number of entries & beneficiaries in the Africa’s Business Heroes (ABH) programme, boasting 9 finalists among the top 10 winners for the years 2019, 2020, 2021, and 2023.

“Collectively, these exceptional individuals have secured an impressive sum of over US$1,345,000 (equivalent to over 2.1 billion Nigerian Naira) in grants through ABH, showcasing the innovation and entrepreneurial spirit of Nigeria’s business community.

“Each year, the winner receives $300,000, the 1st runner up gets $250,000, 2nd runner Up gets $150,000 and the 7 other Top 10 finalists each receives $100,000 and the remaining $100,000 is split among all 10 finalists for additional training programmes.

“Applications for the ABH 2024 edition are open since March 4, 2024, until May 19, 2024 and to apply and for more information about ABH 2024, please visit: africabusinessheroes.org/en/register.,” she said.

NAN also reports that some of the Nigerian entrepreneurs beneficiaries include ABH 2023 Winner – Dr Ikpeme Neto Founder & CEO Wellahealth and Dr Tosan Mogbeyiteren, Founder, Black Swan Inc.

Others are Dr Funmi Adewara, Founder, Mobihealth and Dr Chibuzo Opara, Founder, Drugstoc. (NAN)(www.nannews.ng)

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Edited by Vivian Ihechu