The top three winners were selected through multiple stages of interviews and evaluations from a staggering 27,267 applications spanning all 54 African nations

Entrepreneurs from Nigeria, Kenya and Egypt took the top three places following the Grand Finale pitching session; ABH  () grant recipients contribute to the creation of over 123,000 direct and indirect jobs through their entrepreneurial endeavors

The Africa’s Business Heroes (ABH) Prize Competition, a philanthropic initiative sponsored by the Jack Ma Foundation and Alibaba Philanthropy, has named Dr. Ikpeme Neto from Nigeria; Thomas Njeru from Kenya and Ayman Bazaraa from Egypt the first, second and third prize winners, respectively, of this year’s competition. The announcement took place during the competition’s Grand Finale held in Kigali, Rwanda last Friday.

Inspired by the passion and vision of African entrepreneurs, ABH works closely with many African and global partners to deliver its 10-year commitment to supporting Africa’s burgeoning entrepreneurial ecosystem. Since its inaugural edition in 2019, ABH has selected and awarded 50 African entrepreneurs representing each region of Africa, providing them with grant funding, training and broader support. From agriculture and manufacturing to education and finance, these entrepreneurs drive innovation and impact across nearly every sector of the African economy.

Celebrating the 2023 winners

The 2023 top 10 finalists pitched their businesses on stage to a panel of esteemed judges: Dr. Diane Karusisi, CEO of Bank of Kigali; Ibukun Awosika, Founder and CEO of The Chair Centre Group; and Joe Tsai, Chairman of Alibaba Group. The finalists crowned the top three Africa’s Business Heroes following an intense round of live pitching and interviews are:

1^st – winning US$300,000 – Dr. Ikpeme Neto, CEO and Founder, Wellahealth Technologies () (Nigeria)

2^nd – winning US$250,000 – Mr. Thomas Njeru, CEO and Co-Founder, Pula Advisors Limited () (Kenya)

3^rd – winning US$150,000 – Mr. Ayman Bazaraa, CEO and Co-Founder, Sprints () (Egypt)

These winners were selected from a staggering 27,267 applications spanning all 54 African nations and underwent multiple stages of interviews and evaluations. They have demonstrated exceptional ingenuity and tenacity, substantially impacting their communities and beyond.

Apart from the three final winners, the top 10 contestants will each receive US$100,000 in prize funding from ABH. An extra US$10,000 will also be allocated to each of the top 10 finalists for post-competition training programs.

Making meaningful impacts in communities

Since 2019, grant recipients of the ABH Prize Competition have achieved remarkable milestones, collectively raising over US$153 million in investments and serving a vast base of over 37.5 million customers or users. Collectively, these entrepreneurs have received US$7 million in prize money, facilitating their operations in 52 African countries. Notably, their endeavors have led to the creation of over 123,000 direct and indirect jobs, contributing to the region’s economic development. With a combined reported revenue exceeding US$252 million, ABH grant recipients continue to exemplify the transformative power of entrepreneurship in fostering growth, innovation and socio-economic impact across the African continent.

“I am deeply honored to be named this year’s Africa’s Business Heroes winner. This award energizes my commitment to driving positive change through innovation. I extend heartfelt gratitude to ABH for empowering entrepreneurs like me, and I am dedicated to shaping a brighter future for our continent through entrepreneurship. I am excited for the recognition of Wellahealth Technologies’ work, and grateful for my team, family and the ABH team for making this impact in healthcare across Africa possible,” said Dr. Ikpeme Neto, CEO and Founder, Wellahealth Technologies, ABH 2023 First Prize Winner.

“The winners of this year’s ABH competition embody bold ambition and innovation, exemplifying the true essence of entrepreneurial spirit and a deep commitment to addressing societal challenges. The judges recognized them for their remarkable ability to turn challenges into opportunities, unwavering commitment to community betterment, and innovative approaches to solving pressing issues. Their resilience, passion, and impactful contributions make them not just business leaders, but true African Business Heroes,” said Jason Pau, Executive Director of International Programs, Jack Ma Foundation.

Over the past five years, ABH has received immense support from investors, entrepreneurs and business professionals from across the globe. A total of 903 volunteers have collectively devoted over 15,280 hours to judging, mentoring and supporting thousands of contestants, underscoring the powerful spirit of collaboration that fuels the success of the competition.

2023 ABH Summit and Grand Finale

2023 sees the fifth anniversary of ABH, marking the halfway point in the prize competition program. To commemorate this milestone, a celebratory summit spanning two days from November 23 to 24 was held in conjunction with the Grand Finale. Themed “AI: African Insight, Innovation, Impact,” the ABH Summit and Grand Finale brought together more than 1,750 entrepreneurial ecosystem players and aspiring entrepreneurs from across Africa in the largest physical event in ABH’s history. In addition to the live pitching sessions held as part of the Grand Finale, the event featured a series of speeches and workshops, a showcase of the work of past ABH heroes, and an anniversary celebration party, among other activities.

Pau added, “In commemorating our five-year journey, we extend our gratitude to all the judges, volunteers and partners who have worked hand-in-hand on this remarkable journey. Looking back, we find strength in the tenacity of the entrepreneurs we have supported together. Moving forward, our mission is clear: to continue our work with ecosystem stakeholders to identify and support even more African Business Heroes so that their stories inspire millions more.”

The Africa’s Business Heroes Prize Competition strives to foster an inclusive and dynamic entrepreneurial landscape in Africa. The annual competition continues to spotlight the remarkable talents of African entrepreneurs dedicated to effecting positive change within their communities. What sets ABH apart is its grassroots orientation, coupled with its age, gender and sector-agnostic approach.

Read more about ABH’s history and achievements from the Africa’s Business Heroes 5th year anniversary report ().

Distributed by APO Group on behalf of Africa’s Business Heroes (ABH).

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About Africa’s Business Heroes:

The Africa’s Business Heroes Prize Competition is a philanthropic initiative sponsored by the Jack Ma Foundation and Alibaba Philanthropy. It aims to support, inspire and enable the next generation of African entrepreneurs across all sectors who are building a brighter future for the continent, by offering grant funding, training programs and support for the development of an entrepreneurial ecosystem. Over a 10-year period, each year the ABH Prize Competition and show features 10 entrepreneur finalists as they pitch their business to win a share of US$1.5 million in grant money.