Africa Business News: Entrepreneurs. Investments. Banking & Finance. Emerging Markets. Start-Ups
Tuesday, 8 April 2014
Africa Awards for Entrepreneurship 2014 opens
Africa’s premier community of dynamic and influential new generation leaders, African Leadership Network (ALN), today (April 7, 2014) launched the 2014 Africa Awards for Entrepreneurship.
The most prestigious business and entrepreneurship awards on the continent, the Africa Awards for Entrepreneurship recognise and award business leaders who serve as role models to Africa’s aspiring entrepreneurs and who demonstrate business excellence, innovation and profitability.
In its eighth year since inception, the Africa Awards for Entrepreneurship have attracted more than 7,000 applications from African businesses and awarded prizes of over USD 1.6 million to 30 leading entrepreneurs.
The Africa Awards for Entrepreneurship are open to companies that are domiciled in Africa, that are not subsidiaries of larger organisations, and that have been profitable for at least two years. There are five Award categories which recognise entrepreneurs at different stages of the entrepreneurial life cycle:
● LIFETIME ACHIEVEMENT AWARD – Awarded to a senior African business leader who has served as an entrepreneurial icon for several decades and has left an enduring legacy of success in Africa;
● TRANSFORMATIONAL BUSINESS AWARD – Citation and trophy awarded to a leading business with revenues greater than USD 50 million that has created significant socio-economic impact in Africa under the direction of a notable business leader;
● OUTSTANDING MATURE BUSINESS AWARD – USD 100,000 prize to an established company led by a strong business leader who has generated revenues between USD 5 million and USD 50 million;
● OUTSTANDING GROWING BUSINESS – USD 50,000 prize to a young, remarkable African business with revenues between USD 500,000 and USD 5 million; and
● OUTSTANDING SOCIAL ENTREPRENEUR AWARD – USD 50,000 prize awarded to an organization that demonstrates outstanding innovation and entrepreneurship while sustainably addressing the socioeconomic development of low-income communities in Africa.
To be eligible, the organisation, which may be structured as non-profit or for-profit, must: have been founded or be currently run by an African citizen; demonstrate annual revenues between USD 150,000 and USD 2.5 million in the last financial year; and be primarily focused on social return.
The 2014 Awards ceremony will be held in Kigali, Rwanda in November during the 2014 Annual Gathering, ALN’s flagship event and yearly convention, which brings together ALN members, entrepreneurs, investors, policy-makers, and government leaders.
The 2014 Awards are sponsored for the sixth consecutive year by Omidyar Network, a philanthropic investment firm dedicated to harnessing the power of markets to create opportunity for people to improve their lives.