By Abdulfatah Babatunde
A Nigerian, Dr Ikpeme Neto and two other African entrepreneurs, have emerged winners of the 2023 African Business Heroes (ABH) prize competition, receiving combined grants of $700,000.
TheNewsZenith reports that the other winners are Thomas Njeru from Kenya and Ayman Bazaraa from Egypt.
In a statement e-mailed to TheNewsZenith on Saturday, organisers of the competition said the trio had created “over 123,000 direct and indirect jobs through their entrepreneurial endeavours”.
ABH announced the winners during an AR-enabled Grand Finale held in Kigali, Rwanda.
The entrepreneurs came atop following the final pitching session in the Grand Finale ABH grant recipients.
ABH selected them through multiple stages of interviews and evaluations from 27,267 applications spanning all 54 African nations.
Dr Neto, CEO and Founder of Wellahealth Technologies came first to coast home with $300,000.
Njeru, CEO/Co-Founder of Pula Advisors Limited, Kenya came second and received a $250,000 prize and Bazaraa, CEO/Co-Founder of Sprints from Egypt went home with $150,000.
“The top 10 contestants will each receive $100,000 in prize funding from ABH. Each of the 10 finalists will also receive an extra $10,000 for post-competition training programmes.
“They have demonstrated exceptional ingenuity and tenacity, substantially impacting their communities and beyond,” ABH stated.
Nigeria’s Neto remarked that he was deeply honoured, being named “this year’s Africa’s Business Heroes winner”.
He said the award energizes his commitment to driving positive change through innovation.
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“I extend gratitude to ABH for empowering entrepreneurs like me. And I am dedicated to shaping a brighter future for our continent through entrepreneurship.
“I am excited for the recognition of Wellahealth Technologies’ work. I am also grateful for my team, family and ABH for impacting healthcare across Africa possible,” Neto said.
Jason Pau, Executive Director of International Programs, Jack Ma Foundation remarked that the winners of the 2023 ABH competition “embody bold ambition and innovation”.
pau said they exemplified the true essence of entrepreneurial spirit and a deep commitment to addressing societal challenges.
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A panel of esteemed judges for the competition were Dr Diane Karusisi, CEO of Bank of Kigali; Ibukun Awosika, CEO of The Chair Centre Group and Joe Tsai, Chairman of Alibaba Group.
Since 2019, grant recipients of the ABH Prize Competition have achieved remarkable milestones, collectively raising over $153 million in investments and serving a vast base of over 37.5 million customers or users.
“Collectively, these entrepreneurs have received $7 million in prize money, facilitating their operations in 52 African countries,” TheNewsZenith quoted ABH as stating.
Over the past five years, ABH has received immense support from investors, entrepreneurs and business professionals from across the globe.
A total of 903 volunteers have collectively devoted over 15,280 hours to judging, mentoring and supporting thousands of contestants.
This underscores the powerful spirit of collaboration that fuels the success of the competition.
The ABH Prize Competition strives to foster an inclusive and dynamic entrepreneurial landscape in Africa.
It is a philanthropic initiative sponsored by the Jack Ma Foundation and Alibaba Philanthropy.
The competition aims to support, inspire and enable the next generation of African entrepreneurs across all sectors.
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