The Africa’s Business Heroes (ABH) Prize Competition, a leading philanthropic initiative powered by the Jack Ma Foundation and Alibaba Philanthropy, has announced its 2024 Top 10 finalists. The innovative entrepreneurs emerged victorious after a competitive round of Semi-Final pitches and judging, held on September 27-28 at Kamelizer Spaces in Cairo, Egypt. The event marks ABH’s first presence in North Africa, underscoring Egypt’s growing influence as a hub for entrepreneurial innovation in Africa.
The Top 10 finalists (listed alphabetically by country) are:
- Tisya Mukuna, Founder & CEO, La Kinoise (Democratic Republic of the Congo) | www.La-Kinoise.com
- Hadeel Fayek, Founder & CEO, Joviality (Egypt) | www.Intl.Joviality-eg.com
- Mina Shahid, Co-founder & CEO, Numida (Egypt) | www.Numida.com
- Dr. Rasha Rady, Co-founder & COO, Chefaa (Egypt) | www.Chefaa.health
- Clement Owusu-Donkor, Founder & CEO, Aquantuo (Ghana) | www.Aquantuo.com
- Alexander Odhiambo, Founder & CEO, Solutech Limited (Kenya) | www.Solutech.co.ke
- Dr. Salma Bougarrani, Co-founder & CEO, GREEN WATECH (Morocco) | www.GreenWatech.com
- Mobolaji Ajayi, Founder & CEO, Purelife Pharmacy (Nigeria) | www.PurelifePharmacy.ng
- Henri Ousmane Gueye, Co-founder & CEO, EYONE (Senegal) | www.Eyone.net
- Maxima Nsimenta, Co-founder & CEO, LIVARA (Uganda) | www.myLivara.com
The 2024 finalists were selected through a comprehensive process that began with nearly 20,000 applicants from 54 African countries. After several rounds of interviews and evaluations, the competition narrowed the field to the Top 50, followed by a selection of the Top 20. The Semi-Final event in Cairo identified the final 10 entrepreneurs who will receive their share of the $1.5 million USD grant. This year’s finalists represent eight countries, including three from Egypt and, for the first time, the Democratic Republic of the Congo.
Their ventures span a diverse range of industries, including Agriculture, Education and Training, Financial Services, Health care, ICT, Logistics, Manufacturing and Retail. All the Top 10 finalists have been vetted through a due diligence process led by PlusVC (http://apo-opa.co/3XP16BA) and were selected after pitching their ventures to a panel of judges in front of a live audience.
Hosting the Semi-Final event in Cairo highlighted the city’s longstanding legacy in commerce, trade, and entrepreneurship. Known for its rich history, Egypt plays a critical role in promoting entrepreneurship and supporting the next generation of African business leaders.
“We chose Cairo as the location for this important stage of the competition because of its vibrant entrepreneurial ecosystem and its strategic position in the African market,” said Zahra Baitie-Boateng, Managing Director, Africa at Africa’s Business Heroes.
“The remarkable growth of Egypt’s entrepreneurial community is evident from our experience over the past six years at ABH. We have seen 34 Egyptian entrepreneurs progress through various stages of the competition, from the Top 50 to the Top 10, including two third prize winners, one second prize winner and one grand prize winner. These achievements, among others, underscore Egypt’s influence within the continent’s broader entrepreneurial landscape, and we are proud to showcase its significance,” she added.
The Semi-Final event featured an esteemed panel of judges, including Hasan Haider, Founder and Managing Partner at PlusVC, Fatoumata Doro, Former Managing Director at Vlisco and Board Member at Ecobank, Dina el-Shenoufy, Chief Investment Officer at Flat6Labs, and Simbarashe Mhungu, an Executive Director in Agriculture and Infrastructure Finance. The event, which attracted participants from across the continent also featured community-focused events. These included a networking cruise on the Nile, sponsored and co-hosted with The FutureList, and a training session on building a future-proof business, led by industry experts with additional training from Alibaba Cloud. Other sponsors included Kamelizer Spaces, while partners such as Career180, Helm, Satguru, ALX Ventures and RiseUp Summit were also involved - highlighting the collaboration of key players from Egypt’s entrepreneurial ecosystem and beyond, all working together to support African entrepreneurs.
In a statement shared following the unveiling of the Top 10 at the Gala Dinner concluding the Semi-Final, Baitie-Boateng further noted, “We continue to see inspiring examples of innovation and resilience among the ABH finalists, and this year’s cohort is no different. These entrepreneurs have overcome significant challenges and are building businesses that contribute to their local economies and beyond.”
The finalists will now compete for a share of the US$1.5 million prize at the Grand Finale, which is set to take place from December 3-5, 2024, in Kigali, Rwanda. The event, which will also be partially live-streamed, will bring together leading investors, business leaders, and innovators from across Africa.
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