Applications open for Jack Ma’s $1.5m award for African businesses

A business financing competition backed by Chinese billionaire Jack Ma and offering up to $1.5 million to promising businesses in Africa, has launched its fifth annual edition and is now calling for applications from African entrepreneurs.

The Africa’s Business Heroes (ABH) Prize Competition opened March 3 and will run till May 12. It is a philanthropic initiative sponsored by the Jack Ma Foundation and Alibaba Philanthropy.

Since 2019, ABH has conducted a continent-wide search for 10 outstanding and mission-driven entrepreneurs striving to make a difference in their local communities.

Now in its fifth year, the competition offers a unique opportunity for African entrepreneurs to highlight their talents and make a bigger impact on the community through their businesses.

– One key point to note

Applicants are encouraged to submit their applications in either English or French for a chance to share US$1.5 million grant money. Eligibility is open to entrepreneurs from all 54 African countries, across every sector, gender and age group and all levels of society.

– Learn more

Applications in the past years covered agriculture, consulting, energy environmental protection, healthcare, information and communication technology (ICT), and retail.

The prize offers grant funding, training programs and support for the development of an entrepreneurial ecosystem. A grand finale of the 2023 edition will be held later in the year. Applicants can visit https://apo-opa.info/41MUCo0 to apply.

“At ABH, we have long recognized the potential of entrepreneurs as engines of economic and social growth. Now in the fifth year of the competition, we are encouraged to see that ABH has grown into a truly Pan-African initiative that is positively impacting the continent’s entrepreneurship landscape,” said Zahra Baitie-Boateng, head of partnerships & programs of the programme.

“We are extremely impressed with the increasing diversity of our Heroes and how they’ve been taking tangible steps to solve some of Africa’s most challenging issues. We encourage entrepreneurs from all countries, especially those from smaller countries, to seize the opportunity of ABH 2023 to tell and inspire millions more with their unique stories.”

The first prize for 2022 award went to East Africa Fruits Co., a Tanzania start-up that integrates sellers with buyers of fresh fruits, vegetables and grains.

“ABH has given homegrown African businesses like mine a tremendous opportunity to access learning and networking opportunities and benefit from media support,” said Elia Timotheo, founder and CEO of East Africa Fruits Co.

“I hope that my story will inspire other entrepreneurs to feel that they too have the potential to make a difference and be part of ABH’s start-up community.”