After evaluating over 20,000 applications from 54 African countries, the Africa’s Business Heroes (ABH) Prize Competition has announced the Top 50 Finalists for its 2024 edition. Supported by the Jack Ma Foundation and Alibaba Philanthropy, this philanthropic program aims to recognize and elevate African entrepreneurs. This year’s competition highlights a remarkably diverse applicant pool, reinforcing its status as Africa’s largest and most inclusive competition.
Since its launch in 2019, ABH has been committed to discovering, supporting, and showcasing talented African entrepreneurs. Each year, the competition awards a total grant of $1.5 million to 10 outstanding entrepreneurs. In addition to financial support, ABH offers finalists and the broader entrepreneurial community significant exposure, training, mentorship, and networking opportunities.
“Over the past five years, the ABH Prize Competition has expanded and garnered increased participation from crucial demographics, reflecting our dedication to inclusivity. We are excited to celebrate the exceptional talent of the top 50 finalists this year, who exemplify the diverse entrepreneurial spirit of Africa. As these entrepreneurs pave the way toward a brighter future for the continent and beyond, we are proud to highlight their innovative contributions. We also look forward to ABH’s continued impact in empowering African entrepreneurs and fostering positive change across the continent,” said Zahra Baitie-Boateng, Managing Director, Africa, Africa’s Business Heroes Initiative.
The 2024 application cycle demonstrated Africa’s dynamic entrepreneurial landscape, with notable increases in female applicants, reaching 39 percent compared to the five-year average of 30 percent. Additionally, North African representation rose from an average of 5 percent to 9 percent.
This year’s Top 50 finalists reflect a broad spectrum of diversity, covering 14 sectors across 18 countries, with 40 percent female and 20 percent francophone representation. Agriculture remains the leading sector, with notable contributions from education and healthcare, maintaining trends from previous years.
The diversity among the finalists highlights ABH’s commitment to inclusivity, while the increased participation across various regions and demographics signals a growing network of changemakers making significant local and global impacts.
As they advance through the competition, the Top 50 finalists will enjoy various benefits to support their entrepreneurial journey. They will join the global ABH community, gaining access to a network of like-minded innovators. They will also participate in ABH programs aimed at enhancing their skills and business acumen, starting with the ABH Top 50 Virtual Bootcamp. This bootcamp will feature capacity-building workshops led by African business leaders and members of the entrepreneurial ecosystem, including ABH partners, judges, and previous winners.
