The 2020 Africa’s Business Heroes Competition, an initiative by the Jack Ma Foundation through its Africa Netpreneur Prize Initiative (ANPI), has announced its Top 50 finalists, including seven prominent Nigerians. This prestigious prize competition aims to empower entrepreneurs across Africa by providing a platform to showcase their talent and business ideas, regardless of nationality, industry, age, or gender.

The distinguished Nigerian finalists include Adeyinka Tekenah of Happy Coffee Africa, Chinedu Azodoh of Metro Africa Xpress Inc, Faith Adesemowo of Social Lender, and Ifeoluwa Olatayo of Soupah Farm-en-Market Limited. They are joined by Kehinde Ayanleye of Stutern, Olajide Ayegbusi of Edusko Africa, and Oluwasoga Oni of MDaaS Global. These seven individuals will participate in an exclusive bootcamp hosted by the Africa’s Business Heroes team on July 28th. Following this intensive session, they will undergo another rigorous selection round to determine the final 20 contestants who will advance in the competition.

The second edition of Africa’s Business Heroes (ABH) Competition garnered an impressive 22,000 applications from all 54 African countries, demonstrating widespread entrepreneurial enthusiasm across the continent. A significant new development for this year was the opening of applications in French for the first time, contributing to a diverse pool of applicants. The prize money for the 2020 edition stands at a substantial $1.5 million, to be shared among the eventual top finalists.

The Top 50 finalists represent a broad spectrum of the tech industry, spanning various sectors such as agriculture, AI, Big Data, business services, construction, education, engineering, e-commerce, fashion, financial services, healthcare, ICT, logistics, manufacturing, management services, retail, renewable energy, and transportation. These finalists were selected from 21 different countries, reflecting the competition's continental reach. Notably, 32% of the finalists hail from Francophone countries, underscoring the success of the new French application option. Furthermore, 50% of the finalists are women, marking a significant 24% increase from the maiden edition held the previous year, highlighting a strong commitment to gender diversity. The finalists' average age is 37 years, with the youngest participant being 22 and the oldest 64, showcasing a wide age range and promoting inclusivity.

A comprehensive month-long review process was conducted by a panel of 140 judges. Their selection criteria focused on applicants’ leadership qualities and vision, their capability to transform innovative ideas into sustainable and robust business models, and their dedication to creating a positive impact that uplifts their communities. This holistic approach ensures that the competition identifies entrepreneurs who are not only business-savvy but also socially conscious.

The upcoming bootcamp for the 50 finalists is designed to enhance their "management and leadership capabilities." This mentorship program aims to not only boost their chances of progressing through the competition stages but also to foster their overall development as entrepreneurs. Esteemed mentors participating in this program include Rafeh Saleh, Director of the Founders Institute; Omolara Awoyemi, Senior Program Manager at Facebook; Abdelhameed Sharara, Founder & CEO of RiseUp; Patrick Awuah, Founder and President of Ashesi University; and Sebastien Nony, General Partner of Janngo Capital.

The competition timeline indicates that the top 20 finalists will be announced in August, followed by the reveal of the top 10 finalists in September. The journey will culminate in a grand finale show later in the year, where these elite 10 finalists will present their pitches to Jack Ma and other global business leaders. This grand event offers them the ultimate opportunity to win a share of the US$1.5 million prize pool, celebrating their entrepreneurial spirit and potential for impact across Africa.