The 20 Semi-finalists of the Africa’s Business Heroes 2023 Announced

The Jack Ma Foundation’s philanthropic program, Africa’s Business Heroes has unveiled the twenty (20) semi-finalists of their 2023 prize competition — chosen from the 50 that were shortlisted late in June.

The 20 semi-finalists emerged from a pool of 27,000 applications that were received from fifty-four (54) countries across Africa representing more than 10 industries including; Agriculture, Business Services, Education & Training, Energy, Financial Services, Food & Beverages, Healthcare, Manufacturing, Retail, and Transportation.

The 20 entrepreneurs will gather in person in Kigali, Rwanda from Sep. 1-2, 2023 to pitch their businesses and vie for their spot in the top 10 to be guaranteed their share of USD$1.5 million (approx. UGX5,564,614,500). The pitches are thus set to be an inspiring showdown Judges will interrogate the entrepreneurs to identify who make it as the top 10 Africa’s Business Heroes for 2023.

The value of the prize goes beyond financial gain. All participants, including the winners and the finalists, will benefit from the expertise and insights garnered by Africa’s Business Heroes community of business leaders.

The finalists (the top 10) will be announced in November during the Africa’s Business Heroes Summit & Grand-Finale that will be held in Kigali, Rwanda from Nov. 23-24, 2023.

The Africa’s Business Heroes 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 finalists are required to present and articulate their business plans to the judges while responding to thought-provoking questions within a specified number of minutes. Their ability to convey their passion, expertise, and unique selling points is essential to impressing the judges and securing their support.

The 20 semi-finalists include;

Africa’s Business Heroes 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 a ten-year period and allocate grant funding alongside training, mentoring, and learning programs, as well as access to a community of like-minded African business leaders.

The Africa’s Business Heroes competition not only empowers entrepreneurs but also 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.