Applications are being recieved for the coveted prize of teh African Award for Entrepreneurship. The Award that is being put together by African Leadership Network is organized to reward leading African Entrepreneurs who have served as tole models to aspiring and young African entrepreneurs.
- The Award is opened to organizations that are African-based
- They must be profitable for at least the past two years consecutively
- Are not a subsidiary of any foreign entity
- Are free of Legal action, and
- Have made revenues in excess of $150,000 for social entrepreneurs and $500,000 for other categories.
There are five (5) award categories which recognize entrepreneurs at different stages of the entrepreneurial 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 – 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 – A 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 AWARD – A USD 50,000 prize to a young remarkable African business with revenues between USD 500,000 and USD 5 million;
- OUTSTANDING SOCIAL ENTREPRENEUR AWARD – A 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 a non-profit or for-profit must: have been founded or be currently run by an African citizen; demonstrate annual revenues of between USD 150,000 and USD 2.5 million in the last financial year; and be primarily focused on social return.
On a rolling basis
For more information, visit the African Award for Entrepreneurship Website