Africa’s Business Heroes (ABH) Prize Competition has announced its Top 50 Finalists for 2024, selected from nearly 20,000 applicants across all 54 African countries. Supported by the Jack Ma Foundation and Alibaba Philanthropy, ABH aims to honour and elevate African entrepreneurs, establishing itself as the continent’s largest and most inclusive competition.
Since its launch in 2019, ABH has identified and supported talented African entrepreneurs. Each year, the competition awards $1.5 million in grants to 10 entrepreneurs and provides finalists with exposure, training, mentorship, and networking opportunities.
“Over the past five years, the ABH Prize Competition has seen growth and increased participation from critical demographics, reflecting our commitment to inclusivity. This year, we are thrilled to recognize the exceptional talent and potential of the top 50 Finalists, who embody the diverse entrepreneurial spirit of our continent. As these entrepreneurs lead the way toward a brighter future for Africa and beyond, we’re proud to highlight their innovative achievements. At the same time, we look forward to the continued impact of ABH in empowering African entrepreneurs and driving positive change across the continent,” said Zahra Baitie-Boateng, Managing Director, Africa, Africa's Business Heroes Initiative.
Expanding Reach and Inclusivity
The 2024 call for applications received submissions from all corners of Africa, demonstrating the continent's vibrant entrepreneurial spirit. Notably, female applicants reached 39%, surpassing the five-year average of 30% and North African representation increased from the five-year average of 5% to 9%.
Building on this momentum, the 2024 ABH top 50 represents a diverse spectrum, encompassing 14 sectors across 18 countries, with 40% female and 20% francophone representation. Agriculture remains the most prominent sector, alongside strong showings in Education and Healthcare, continuing trends from previous years. This diversity among finalists mirrors the broad range of applicants, underscoring ABH's commitment to inclusivity. Increased participation across regions and demographics reflects a growing cadre of changemakers making significant local and global impacts.
Benefits for the Top 50 Finalists
The top 50 Finalists will receive a range of benefits to enhance their entrepreneurial journey as they advance to the next stages of the competition. They will become members of the global ABH community, gaining access to a network of like-minded innovators. Additionally, they will benefit from ABH programs, designed to further develop their skills and business acumen. One of the first of these activities is the ABH Top 50 Virtual Bootcamp, where Finalists will participate in capacity-building workshops delivered by African business leaders and members of the entrepreneurial ecosystem, including ABH partners, judges, and Heroes.
2024: Highlighting Innovators and Enhancing Community
Over the years, ABH has showcased outstanding participants through traditional media and social media channels. This has included providing significant exposure to the top 10 Finalists via the ABH Show, which recounts their ABH journey and entrepreneurial stories through the pitch competition. This year, ABH continues to highlight the inspirational narratives behind past Finalists’ entrepreneurial journeys through its ‘Hero Stories’ series on social media.
ABH has also announced an upcoming community-building initiative, in recognition of the continent’s emergence as a hub of entrepreneurial excellence. In addition to its grant and other programs, ABH is set to further support trailblazing entrepreneurs reshaping industries and creating global impacts by launching hubs in major African cities, which will be announced soon.
The Top 50 Finalists will now advance to Round 2 of the ABH evaluation process. In August, the Top 20 Finalists will be announced and proceed to Cairo for the Semi-Finale after a rigorous due diligence process by PlusVC.
For details about this year’s 2024 ABH top 50 participants, please visit: www.AfricaBusinessHeroes.org.
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