As a whole, Africans are known for their entrepreneurial spirit. Studies have shown that of the top 10 countries with the most entrepreneurs, 5 are in Africa. African entrepreneurs are also the least likely to let the fear of failure prevent them from starting a venture. Out of necessity or otherwise, Africans are entrepreneurs at heart.
Entrepreneurship is essential to drive economic growth in Africa. The continent has its own unique challenges and opportunities that are best met by homegrown solutions. And of course, the issue of unemployment in Africa, particularly among young people, is immense. Entrepreneurs create not just jobs, but opportunities for Africans to have meaningful work that directly contributes to Africa’s development.
The Africa Awards for Entrepreneurship (AAE) are the continent’s foremost awards that recognize and celebrate its entrepreneurs. Established by the Legatum Group in 2007 and now a program of African Leadership Network, the AAE identify Africa’s greatest entrepreneurs in terms of innovation, profitability, and business excellence.
Past AAE winners and finalists have spanned the continent. They include companies as diverse as a luxury retail developer in Morocco; a bottling company that represents Somalia’s largest private investment; and a company that turns bat droppings into fertilizer in Madagascar. See past winners and finalists here.
As the AAE enter their ninth year, we look forward to identifying the next class of exceptional African businesses and bringing them into the ALN community.
For more information about AAE, contact us.