Africa: 10 outstanding entrepreneurs to share US$1.5m grant as ABH reaches 5th edition

(Last Updated On: 27 March 2023)

Over 10 years, Africa’s Business Heroes (ABH) will recognize 100 African entrepreneurs and commit to allocating grant funding, training programs, and support for the development of an entrepreneurial ecosystem.

ABH prize competition is a philanthropic initiative sponsored by the Jack Ma Foundation and Alibaba Philanthropy. It aims to support and inspire the next generation of African entrepreneurs across all sectors and build a more sustainable and inclusive economy for the future of the continent.

Jack Ma, Founder of Alibaba Group, and the Jack Ma Foundation created the prize after he made his first trip to Africa in 2017. While in Africa, Ma was inspired by the “energy and entrepreneurial potential of the young people he met”.

Every year since the first edition in 2019, entrepreneurs from across Africa apply and go through several rounds of rigorous evaluation conducted by ABH judges.

The finalists are selected after demonstrating that they are visionary entrepreneurs who embody innovation, resilience, growth potential, and impact on Africa.

2023 marks the 5th edition of this grant opportunity and each year ABH awards 10 outstanding entrepreneurs from across Africa with a share of a US$1.5 million grant.

Further, ABH aims at enabling entrepreneurs who are not only building successful businesses, but who are also running mission-driven organizations that generate growth for their local communities across Africa.

Each year the winner receives $300,000, the 1st Runner gets $250,000, 2nd Runner Up gets $150,000 and the 7 other top 10 finalists each receive $100,000 and the remaining $100,000 is split among all finalists. To learn more or apply, click here.

The Award                                

ABH strives to be an inclusive initiative for African entrepreneurs. Applications are open in English and French to entrepreneurs from all African countries, all sectors, and all ages.

Annually, 10 finalists are selected to compete in the ABH finale pitch competition that is broadcast online and across the continent.

The finalists compete for a share of US$1.5 million in grant money. They have the opportunity to not only showcase their talent and business ideas but also inspire others to pursue entrepreneurship as a career option.

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