The finalists were selected based on their demonstration of visionary entrepreneurship, embodying traits such as innovation and creativity, impact on communities and societies, leadership and vision, the potential for growth and scalability, market demand, and financial sustainability.

Effective communication skills were also crucial as entrepreneurs were required to present and articulate their business plans to a select panel of judges while responding to thought-provoking questions. Their ability to convey their passion, expertise, and unique selling points is essential to impressing the judges and securing their support.

Maxima Nsimenta (from Uganda), and 9 other entrepreneurs from Egypt, Ghana, Kenya, Morocco, Nigeria, Senegal, and The Democratic Republic of the Congo (DRC) will make their final presentations at the grand finale in Kigali, Rwanda on the sidelines of Africa’s Business Heroes Summit which will be held from December 3-5.

The entrepreneurs will win a share of USD$1.5 million (approx. UGX5.6 billion) grant funding ranging from USD$100,000 to USD$300,000. The overall winner will receive USD$300,000 while the 1st and 2nd runner-ups will receive USD$250,000 and USD$150,000 respectively. All other 7 finalists will each receive USD$100,000. An additional USD$100,000 is allocated for global immersion training.

The value of the prize goes beyond financial gain. All participants, including the winners and the finalists, will receive global recognition & exposure, access to an exclusive & vibrant entrepreneurship community and network, mentorship, and training programs, etc.

Livara is a personal care company that manufactures natural and organic products for natural hair and skin. Their mission is to bring equity to the cosmetics industry by providing authentically natural and organic solutions proven through centuries of use in Africa. In addition, the company wants to make natural haircare & skincare easy and accessible while empowering Africans.

The 10 finalists are;

Africa’s Business Heroes (ABH) competition is part of the Jack Ma Foundation’s long-term commitment to help support and foster an inclusive and strong African entrepreneurial ecosystem. The program wants to recognize 100 African entrepreneurs over ten years and allocate grant funding alongside training, mentoring, and learning programs, as well as access to a community of like-minded African business leaders.

The competition empowers entrepreneurs and captivates audiences with the diversity and ingenuity of the business plans submitted. Each business plan tells a unique story of resilience, creativity, and the drive to make a positive impact in Africa. From innovative tech solutions and beauty and fashion to sustainable agricultural initiatives, the business plans showcased in the competition offer fascinating insights into the entrepreneurial landscape across Africa.

Since 2019, grant recipients of the ABH have achieved remarkable milestones, collectively raising over USD$153 million in investments and serving a vast base of over 37.5 million customers or users. Collectively, these entrepreneurs have received USD$7 million in prize money, facilitating their operations in 52 African countries.

Notably, their endeavors have created over 123,000 direct and indirect jobs, contributing to Africa’s economic development. With a combined reported revenue exceeding USD$252 million, ABH grant recipients continue to exemplify the transformative power of entrepreneurship in fostering growth, innovation, and socio-economic impact across the African continent.

Over the past five years, ABH has received immense support from investors, entrepreneurs, and business professionals from across the globe. Over 900 volunteers have collectively devoted over 15,280 hours to judging, mentoring, and supporting thousands of contestants, underscoring the powerful spirit of collaboration that fuels the competition’s success.

ABH strives to foster an inclusive and dynamic entrepreneurial landscape in Africa. In its fifth year, this annual competition continues to spotlight the remarkable talents of African entrepreneurs dedicated to effecting positive change within their communities. What sets ABH apart is its grassroots orientation, coupled with its age, gender, and sector-agnostic approach.

The post Livara Founder, Maxima Nsimenta Vies a Spot in the Top Finalists of ABH Competition appeared first on PC Tech Magazine.

“A global panel of judges here chooses the 2024 ABH top 20, these heroes stand out for their innovation, impact, and potential to scale,” ABH said in a statement. “Hailing from 11 countries and spanning 8 industries, they reflect ABH’s commitment to identifying Africa’s most promising entrepreneurs.”

Among the 20, only one Ugandan, Maxima Nsimenta, Founder of Livara, made it to the list out of the 50 where there were 4.

“Livara’s journey is a marathon and I take the steps seriously —one foot in front of the other, one step at a time. Ugandans are great at winning global marathons,” said Nsimenta in a post on LinkedIn. “The Africa’s Business Heroes journey is a marathon to me and I am grateful for having reached the top 20. Out of 20,000 applicants, I have made the top 0.01%, it is worth celebrating. Onwards and upwards.”

The 20 entrepreneurs will pitch their businesses and vie for their spot in the top 10 —who will be announced in November during the Africa’s Business Heroes Summit & Grand-Finale.

The Africa’s Business Heroes finalists are selected based on their demonstration of visionary entrepreneurship, embodying traits such as innovation and creativity, impact on communities and societies, leadership and vision, the potential for growth and scalability, market demand, and financial sustainability.

Maxima Nsimenta is the founder of Livara, a personal care company that manufactures natural and organic products for natural hair and skin. Their mission is to bring equity to the cosmetics industry by providing authentically natural and organic solutions proven through centuries of use in Africa.

Nsimenta says Livara is on a mission to make natural haircare & skincare easy and accessible while empowering Africans.

The full list of 20 finalists are;

Africa’s Business Heroes competition is part of the Jack Ma Foundation’s long-term commitment to help support and foster an inclusive and strong African entrepreneurial ecosystem. The program wants to recognize 100 African entrepreneurs over ten years and allocate grant funding alongside training, mentoring, and learning programs, as well as access to a community of like-minded African business leaders.

The Africa’s Business Heroes competition not only empowers entrepreneurs but also captivates audiences with the diversity and ingenuity of the business plans submitted. Each business plan tells a unique story of resilience, creativity, and the drive to make a positive impact in Africa. From innovative tech solutions and beauty and fashion to sustainable agricultural initiatives, the business plans showcased in the competition offer fascinating insights into the entrepreneurial landscape across Africa.

The post Maxima Nsimenta Makes Africa’s Business Heroes Top 20 Finalists appeared first on PC Tech Magazine.