The Jack Ma Foundation’s philanthropic program, Africa’s Business Heroes (ABH) has unveiled the top fifty (50) finalists of their 2024 prize competition —chosen from a pool of tens of thousands of applications from fifty-four (54) countries across Africa. These entrepreneurs are from diverse industries including Agriculture, Business Services, Education & Training, Energy, Financial Services, Food & Beverages, Healthcare, Manufacturing, Retail, and Transportation.
The finalists are selected based on their demonstration of visionary entrepreneurship, embodying traits such as innovation and creativity, impact on communities and societies, leadership and vision, the potential for growth and scalability, market demand, and financial sustainability.
Effective communication skills are also crucial as entrepreneurs are required to present and articulate their business plans to a select panel of judges while responding to thought-provoking questions. Their ability to convey their passion, expertise, and unique selling points is essential to impressing the judges and securing their support.
Out of the 50 finalists, 4 are Ugandans; Daniel Mukisa, Louisa Kiwana, Martin Ssali, and Maxima Nsimenta. East Africa had most of the finalists, followed by West Africa, North Africa, South and Central Africa. Similar to last year, 36% (to be exact 19/50) of the finalists were female entrepreneurs.
The finalists are competing for a chance to win a share of USD$1.5 million (approx. UGX5.6 billion) grant funding. However, the value of the prize goes beyond financial gain. It represents an extraordinary platform where all participants, including the winners and the finalists, benefit from the expertise and insights garnered by the ABH community of business leaders.
Daniel Mukisa, Co-founder and CEO of Ridelink, an e-logistics platform developed to connect small and medium-sized enterprises (SMEs) to a network of transport operators. The company reports having served more than 250 SMEs with over 2000 drivers delivering cargo throughout East Africa.
Louisa Kiwana, Co-founder and Director of Kunda Kids Limited, a publishing company whose books teach generosity and the importance of helping others, and engages readers (of ages 3-8) through the rhythmic rhyming sequences throughout the story, as well as the beautiful illustrations of exotic and royal scenery.
Martin Ssali, Founder and Technical Director of Smart Foods Limited, an agro-processing company focusing on processing of innovative food products for domestic and export markets.
Maxima Nsimenta, Founder of Livara, a personal care company manufacturing natural and organic products for natural hair and skin. Their mission is to bring equity to the cosmetics industry by providing authentically natural and organic solutions proven through centuries of use in Africa.
Africa’s Business Heroes (ABH) competition is part of the Jack Ma Foundation’s long-term commitment to help support and foster an inclusive and strong African entrepreneurial ecosystem. The program wants to recognize 100 African entrepreneurs over ten years and allocate grant funding alongside training, mentoring, and learning programs, as well as access to a community of like-minded African business leaders.
The competition empowers entrepreneurs and captivates audiences with the diversity and ingenuity of the business plans submitted. Each business plan tells a unique story of resilience, creativity, and the drive to make a positive impact in Africa. From innovative tech solutions and beauty and fashion to sustainable agricultural initiatives, the business plans showcased in the competition offer fascinating insights into the entrepreneurial landscape across Africa.
Since 2019, grant recipients of the ABH have achieved remarkable milestones, collectively raising over USD$153 million in investments and serving a vast base of over 37.5 million customers or users. Collectively, these entrepreneurs have received USD$7 million in prize money, facilitating their operations in 52 African countries.
Notably, their endeavors have created over 123,000 direct and indirect jobs, contributing to Africa’s economic development. With a combined reported revenue exceeding USD$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.
Over the past five years, ABH has received immense support from investors, entrepreneurs, and business professionals from across the globe. Over 900 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 competition’s success.
ABH strives to foster an inclusive and dynamic entrepreneurial landscape in Africa. In its fifth year, this 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.
