Three Nigerians entrepreneurs secured spots among the Top 20 finalists in the Jack Ma Foundation and Alibaba Philanthropy event, Africa’s Business Heroes 2023, with only one of them has making it to the top 10 list.
This annual startup competition seeks to identify, train, and support African entrepreneurs who are driving positive change in their communities. Participants have the chance to secure a portion of the $1.5 million in grants generously provided by the sponsors to bolster African startups.
Nigerian business owners have been leaving their mark on Africa’s Business Heroes since joining the competition in 2019. As the competition reaches its fifth year, out of a planned ten-year sponsorship by the Jack Ma Foundation, Nigerian entrepreneurs have consistently demonstrated their mettle. They’ve claimed eight of the top ten spots in 2019, 2020, and 2021, earning a total grant of over $1,185,000 (equivalent to more than N912 million).
Nigerian Entrepreneurs Shine Bright
This year, the feats achieved by Nigerian entrepreneurs in the continent-wide competition continue to shine. Out of 27,267 applications received, three Nigerians secured spots among the Top 20 finalists. While two of them couldn’t advance past the Semi-Finals held in Kigali, Rwanda, one entrepreneur made Nigeria proud.
Funmi Adewara, CEO/founder of Mobihealthcare Limited, and Bryan Mezue, CPO/co-founder of Lifestores Healthcare, did their best but could not convince the judges during their semi-final pitches. However, Ikpeme Neto, CEO/founder of Wellahealth Technologies, made an indelible mark with his innovative approach aimed at increasing healthcare access in Africa through technology-driven alternative care pathways. His platform reduces costs and enhances accessibility, boasting a network of over 2,000 health providers digitally connected to 27 insurance companies, leading banks, telcos, and a network of sales agents.
At the semi-finals in Kigali in September, Dr. Ikpeme Neto demonstrated how patients can access high-quality care for as little as $1 per month and how Wellahealth generates over $100,000 in monthly revenue from fees charged to companies and individuals. His accomplishments secured him a spot among the Top 10 finalists, opening doors for Nigeria to potentially increase its total grant winnings.
Acknowledging the Platform and Opportunity
Adewara and Mezue, though not advancing to the next level, expressed gratitude for the opportunity provided by Africa’s Business Heroes to exchange ideas, network, and challenge their entrepreneurial spirits. Mezue emphasized that the platform itself was a win for his business, aside from the grant, which is undoubtedly beneficial.
Adewara, the only female Nigerian participant, celebrated reaching this stage in the competition, stating, “Coming this far in the competition, we are all winners.”
Nigeria’s Hope in the Competition
Meanwhile, Dr. Ikpeme Neto remains in contention as the sole representative flying the Nigerian flag in Africa’s Business Heroes 2023. He is confident of securing a place in the Top 3 and, ultimately, emerging as the winner based on his innovative problem-solving and wealth creation offerings.
Neto will join the other Top 10 competitors at the grand finale of Africa’s Business Heroes in November in Kigali, Rwanda. The finalists will vie for a share of the $1.5 million grant money, with the winner receiving $300,000, the first runner-up $250,000, and the second runner-up $150,000. The remaining seven finalists will each receive $100,000, and the remaining $100,000 will be allocated for additional training programs post-competition.
Meet the top 10 finalists who represent various African countries and innovative ventures:
Ismael Belkhayat, CEO and founder of Chari, a Moroccan fintech services provider.
Bola Bardet, CEO/co-founder of Susu from Benin Republic.
Christina Gyisun, CEO of Sommalife, a Ghanaian firm.
Albert Munyabugingo, CEO of Vuba Vuba Africa, a Rwandan company.
Theo Baloyi, CEO and founder of Bathu, a South Africa-based sneaker producer.
Nthabiseng Mosia, CMO and co-founder of Easy Solar, from South Africa.
Thomas Njeru, CEO/co-founder of Pula Advisors Limited from Kenya.
Andrew Takyi-appiah, founder of Zeepay Ghana Limited from Ghana.
Ayman Bazaraa, CEO/co-founder of Sprints from Egypt.
These Top 10 finalists, including Nigeria’s Dr. Ikpeme Neto, represent nine African countries. They will pitch their ventures in Kigali, Rwanda, on November 24, 2023, vying for the title of the 2023 Africa’s Business Heroes Winner.