The Jack Ma Foundation through Africa’s Business Heroes (ABH) competition has awarded N186.2million ($450,000) in grant funding to three Nigerian entrepreneurs.
The three entrepreneurs are among the top 10 finalists that were announced winners by the foundation in a recent virtual grand finale, with $1.5million awarded in grant funding.
Releaf, an agri-tech start-up in Africa’s most populous country won the second prize of the competition with an N102.9million ($250,000) grant funding, while Gricd.com – a cold chain solutions provider and Publisher – a digital platform supporting Africa’s creative won N41.2 million ($100,000) in prize funding each.
An additional $10,000 will be allocated to each finalist for a training program to be hosted in Alibaba Group’s headquarters in Hangzhou, China.
“This is the third time I have been a Grand Finale judge for Africa’s Business Heroes competition, meeting many exceptional business women and men from across Africa,” said Ibukun Awosika, Founder and CEO of The Chair Centre Group.
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“Each year, I’m struck by their sheer talent and the commitment to developing creative, innovative solutions to the challenges we face on the continent.
“It truly is “Africa’s time” and these outstanding entrepreneurs are the ones who embody its future of growth and relevant solution-based innovation,” she added.
This year, over 12,000 applications were received from all 54 countries in Africa.
The finalists were chosen after several rounds of rigorous evaluation conducted by over 230 judges. They were selected after demonstrating that they are visionary entrepreneurs who embodied innovation, resilience, growth potential, and impact on Africa.
“This year’s Top 10 finalists came from inspiring personal stories that are invaluable not only to their teams and communities but to many would-be entrepreneurs across the continent who are thinking about pursuing this path,” said Joe Tsai, executive vice-chairman of Alibaba Group.
“The kind of talent and passion I saw among this year’s Africa’s Business Heroes is unrivalled around the world. They are innovators and problem-solvers, but most importantly, they have a driving sense of mission and social impact,” he said.
“Congratulations to all of our winners and we look forward to seeing what you accomplish next,” he added.
