Jason Pau, Executive Director (International) of the Jack Ma Foundation making the announcement
The 6th edition of the Africa Business Heroes (ABH) Summit and Grand Finale opened in Kigali, with event organizers Jack Ma Foundation and Alibaba Philanthropy announcing Rwanda as the exclusive host for the next four years.
Jason Pau, Executive Director (International) of the Jack Ma Foundation and keynote speaker, made the revelation at the official opening of the 6th edition, which runs from March 14 to March 15, 2025.
The annual competition, which began as the Africa NetPreneur Prize Initiative with an initial investment of $10M from 2019 to 2029, recognizes outstanding African entrepreneurs annually.
Co-organized by the Rwanda Development Board (RDB), Rwanda Convention Bureau (RCB), and the Bank of Kigali (BK), the event brings together business leaders, entrepreneurs, and change-makers from across Africa to explore pressing challenges and innovative solutions through the lens of entrepreneurship.
Reflecting on the ABH eight-year journey, initially conceived in 2019 by billionaire Jack Ma during a visit to Africa and attending Youth Connekt in Rwanda, Pau said that Rwanda has been home to the event and has made it successful with open arms.
Jason Pau
“I am proud to announce that in partnership with the RDB, we will host our finale here in Kigali for the next four years, through the tenth year of the ABH,” Pau said.
The event organizers said that returning to the Kigali Convention Centre reinforces Rwanda’s growing status as an entrepreneurial hub and reflects the country’s commitment to supporting the business community.
Pau also announced the opening of applications for the next 7th edition and emphasized the use of Artificial Intelligence (AI), the theme of the year, as a driving force for the next generation of entrepreneurs.
“Entrepreneurs are a driving force for good, creating jobs and economic growth, and more importantly, providing innovative solutions. To all the entrepreneurs, aspiring entrepreneurs, and supporters; your time is truly now,” he said.
“Our theme is AI, and no matter what business you’re in, whether it’s agriculture or fashion, AI has the potential to transform your business,” Pau added.
He revealed that over the last six years, the ABH top ten competitors have collectively raised $180M, served 40 million consumers, and many have doubled, tripled, and quadrupled revenues doing business across Africa.
Women Inclusion:
Women attended in big numbers at the 6th ABH edition
With applications from all 54 African countries, the 2024 edition marked significant strides in gender and regional representation. Female applicants reached 39%, surpassing the five-year average of 30%.
This year’s competition comprises ten top competitors, 40% of whom are women, who will pitch their businesses for a share of the $1.5 million prize pool. The grand finale and pitching exercise are set for tomorrow, March 15.
RDB Chief Investment Officer, Michelle Umurungi, highlighted the visionary partnership and potential that the ABH Summit and Grand Finale bring to the African entrepreneurs ecosystem.
RDB Chief Investment Officer, Michelle Umurungi
“This partnership is a true example of what happens when vision meets action,” Umurungi said.
This visionary partnership is expected to benefit young entrepreneurs like Cedrick Mupenzi, the founder of Sinc Today, a startup company that enables an all-in-one platform for event management. Mupenzi said that with AI tech, ABH sets a front line of improving and supporting young entrepreneurs, not only in Rwanda but also in Africa.
“We see this as a very good opportunity to learn, get investment if we can, solve challenges that we face today, and also enlarge our business models and expand to other markets,” Mupenzi said.
Cedrick Mupenzi (left) pitching his way to earn a piece of the $1.5M
Former ABH beneficiaries like Christelle Kwizera, founder and CEO of WaterAccess Rwanda, a social enterprise focused on access to clean water in rural Rwanda, says that the prize money has enabled her to grow the business with impact.
“When I won ABH in 2019, we actually doubled. We had 63 employees, and now, WaterAccess Rwanda employs 122 people. So, it was quite impactful in terms of putting the company on a local and global map as well,” Kwizera said.
Christelle Kwizera, the inaugural ABH 2019 beneficiary alumni
The competition, which covers 52 African countries, has seen applications grow from 9,366 to 27,267, with regional distribution and diversity covering 42% from West Africa, 30% in the East African Community (EAC), 14% in Northern Africa, 10% in Southern Africa, and only 4% in Central Africa.
Currently, ABH-funded businesses operate in digital and consumer services (22%), agriculture (20%), retail and manufacturing (18%), health (16%), energy and environment (14%), and science and education (10%).
Ibukun Awosika, ABH Finale Judge, Founder, The Chair Centre Group giving a Keynote on “AI Re-defined: African Intelligence Powering Entrepreneurship”
Money Moves Panel: “Mastering When to Raise, Spend, and Exit”
Jason Pau and Michelle Umurungi (right)
Abby, the AI guest who picked the attention of many at the edition which focused on AI in African entrepreneurship
Secondary School students, mainly girls, attending in big numbers to learn from the best
Anita Erskine, Official host for Africa’s Business Heroes – the Jack Ma Foundation’s flagship philanthropic entrepreneur program in Africa.
Kigali Convention Centre will be the home for the ABH events till 2029.
