The finalists underscore the diversity of entrepreneurs in the competition, representing eight countries including Ethiopia, Gambia, Kenya, Mauritius, Nigeria, Senegal, Uganda, and Zimbabwe. The top ten, which includes three woman-owned businesses, work in a range of industries, from software to entertainment to agribusiness.
A record 3,300 companies from 48 African countries submitted entries to compete for the Grand Prize of US $100,000, five additional prizes of US $50,000 each, and a new $50,000 award for the Coca-Cola Prize for an Outstanding Woman Entrepreneur. The Africa Awards for Entrepreneurship recognises and rewards business leaders who embody the entrepreneurial spirit and qualities required to succeed in business and who are the inspirational role models for the next generation of African entrepreneurs.
"The Africa Awards celebrates the standards of business excellence within Africa, helping to build a strong network of African entrepreneurs, and our 10 finalists demonstrate the breadth and depth of entrepreneurial talent across the continent today," said Alan McCormick, Managing Director of Legatum. "Such diversity shows that Africa's outstanding business leaders are not constrained by geography, gender or ambition."
The finalists of the 2011 Africa Awards for Entrepreneurship are:
- soleRebels, Ethiopia
- Unique Solutions, Gambia
- InvesteQ, Kenya
- Expand Technology, Mauritius
- Chocolate City Group, Nigeria
- FASMicro, Nigeria
- Pepperoni Foods, Nigeria
- Cellular Systems International, Senegal
- Victoria Seeds, Uganda
- Securico, Zimbabwe
The finalists will present to an international jury of business leaders chaired by Malik Fal, Managing Director of Endeavor. The jury will also include some of Africa's most prominent entrepreneurs and investors, including Kamal Budhabhatti, CEO of Craft Silicon and Grand Prize Winner of the 2010 Africa Awards; James Manyika, Director of the McKinsey Global Institute; and Ayisi Makitiani, the CEO of Fanisi Capital.
The finalists will be evaluated on profitability, return on investment and growth; long-term business strategy; leadership, culture and values; investment in employees; innovation to address market needs; and contribution to the community. The winners will be announced at the Africa Awards Gala, held on December 8th in Nairobi, honouring the finalists and winners in the presence of an international audience of business leaders, investors, policymakers, and entrepreneurs.
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