The African Leadership Network (ALN), Africa’s premier community of young, dynamic and influential new generation leaders, yesterday 19th June 2013 announced the launch of the 2013 African Awards for Entrepreneurship (AAE) competition. The most prestigious business and entrepreneurship awards in Africa, AAE recognises and awards business leaders who serve as role models to Africa’s aspiring entrepreneurs and who demonstrate business excellence, innovation and profitability.
Speaking at the launch of the 2013 AAE, recently appointed ALN CEO Isaac Fokuo commented:
We are delighted to launch the competition for 2013, and welcome nominations for the best African companies for this year’s Awards. Last year’s competition was particularly robust, producing inspiring winners, and we are looking forward to equally compelling candidates this year.
In its seventh year since commencement, AAE is grateful to its key partner, Omidyar Network, as well as our other sponsors, and remain focused on promoting entrepreneurship as the path to building wealth and prosperity in Africa.
In its seventh year since inception, AAE has attracted more than 7,000 applications from African businesses and awarded prizes of over US$1.5 million to 30 leading entrepreneurs.
The 2013 Awards are sponsored for the fifth 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. Commenting on the launch, Omidyar Network Africa Managing Director, Malik Fal says:
Omidyar Network is pleased to continue its support of the Africa Awards for Entrepreneurship, helping it grow into the most distinguished entrepreneurship awards programme on the continent. We believe that vibrant and robust entrepreneurial ecosystems are critical to promote sustained and inclusive economic growth. These awards provide a strong platform to celebrate some of the continent’s most promising, as well as established, entrepreneurs and accelerate the expansion of entrepreneurship in Africa.
AAE is open to companies that are domiciled in Africa, that are not subsidiaries of larger organisations and have been profitable for at least two years. This year’s awards have a new category, Outstanding Social Entrepreneur Award, in recognition of the growing imperative to balance sustainability and profitability in business practices. In sum, there are five categories:
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 notable business leader who has had a major socio-economic impact in Africa by building a business with revenues greater than US$50 million
OUTSTANDING MATURE BUSINESS AWARD – US$100 000 prize to a business leader who has built a company with revenues between US$5Million and US$50million
OUTSTANDING SMALL AND GROWING BUSINESS – US$50 000 prize to young, remarkable African business with revenues between US$500k – US$5Million
SOCIAL ENTPREPRENEUR AWARD (NEW) – US$50 000 prize awarded to an outstanding enterprise that has a demonstrated socio-economic and environmental impact, while blending profitability and sustainability in its business model. To be eligible, companies must demonstrate revenues of between US$ 150 000 and US$2.5 million in the last financial year.
Nominations should be sent to firstname.lastname@example.org by the 18th of July 2013.
The 2013 Awards ceremony will be held alongside ALN’s flagship event, The Annual Gathering, a yearly convention, which brings together ALN members, entrepreneurs, investors, policy-makers, and government leaders. This year’s ALN Annual Gathering will take place between 2nd and 5th October 2013, Mauritius.