English - 2011 Africa Awards for Entrepreneurship


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Summary brochure for the 2011 Africa Awards for Entrepreneurship

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English - 2011 Africa Awards for Entrepreneurship

  1. 1. IntroductionLegatum is a private investment group with a twenty-five year history of investment acrossfive continents, and is the founder and owner of the Africa Awards for Entrepreneurship.As a leader of the Prosperity Movement, the Legatum Group is entirely organisedaround the principle of creating prosperity on a global scale, and our mission is togenerate and allocate the capital and ideas that help people to lead more prosperouslives. From our years of investment experience, particularly in developing markets,we have observed firsthand a number of truths: that people prosper when they arefree to take advantage of opportunity; that business creates opportunity by providingemployment and individual advancement; that while there will always be a role forphilanthropic grants to those who have no opportunity to help themselves, thelong-term impact of business upon sustainable development is more effective by anorder of magnitude; and that small business cannot establish itself nor flourish unlessentrepreneurs are encouraged and allowed the freedom to prosper themselves.First and foremost, therefore, we are advocates for the power of entrepreneurship andhave created the Africa Awards for Entrepreneurship to recognise the very best Africanentrepreneurs and reward them with prize funds of US $350,000. Furthermore, wewill encourage entrepreneurs directly through support networks and the provision ofvaluable services; we will lobby policymakers to create a beneficial environment for smalland medium-sized businesses; and while we do not seek to create a deal pipeline forourselves, we will facilitate the connection between investors and the outstanding smalland medium-sized businesses that will fuel the growth of the continent.We encourage all eligible companies to submit their own entries to the Africa Awardsthis year and for others to nominate the very best entrepreneurs who represent thefuture of Africa’s growth and prosperity.Alan McCormickManaging Director, Legatumwww.AfricaAwards.com
  2. 2. The Africa Awards ProgrammeThe competition element of the 2011 Applications will be solicited throughAfrica Awards for Entrepreneurship will a ten month, multimillion dollar globalfollow a tried and tested methodology publicity campaign including advertisingto discover the ten finalists who will have and PR initiatives, and throughsatisfied the expert panel judges through outreach campaigns to local businessseveral stages of evaluation that they groups, networking events, diplomaticindeed represent the very best of African community, government outreach andentrepreneurship. direct nominations.Having submitted a formal application Prize Fund Structureonline at www.AfricaAwards.com, The total pool of prize money will beincluding their business plans and financial US $350,000 which should be reinvesteddata, the company and its leadership will back into the business. One Grand Prizebe evaluated in six areas: winner will receive US $100,000; a further three prizes of US $50,0001. Overall profitability; ROI and growth each will be awarded and two special2. Long-term, sustainable business strategy prizes of US $50,000 will be reserved3. Leadership, culture and values for companies with revenues of under4. Investment in human capital US $1.5 million.5. Innovating to meet a market need6. Contribution to the community Judging All entries will be analysed usingCompanies will be eligible to compete sophisticated filtering software to reducefor the prize fund and honour of being the field of applicants in accordance withselected as an Africa Awards Winner the predetermined criteria. Furtheraccording to the following basic criteria: panels of judges will progressively select the final 50 and then the 15 semi-finalists1. Annual turnover from US $1 million who will be visited in person and whose to US $15 million financial statements will be audited by our2. At least two years of profit, supported accounting partner. Ten finalists will then by audited financial statements make in-person presentations to a world-3. Independent, ideally founder-led (not class jury of business experts over the a subsidiary of a larger organisation) course of two days preceding the Gala4. Employs more than ten staff and be in Awards event. full compliance with local labour laws
  3. 3. Programme TimelinePhase 1 February – May Continuous promotion of past programme and winners February – May Media and programme preparationPhase 2 May 31 2011 Awards open for entries May 31 Media Briefing; new website launchedPhase 3 June – August Ongoing recruitment of applicants June – August Promotional Road Show: PR & Advertising: online/print/ radio/TV/outdoor July High-level media announcement regarding progress of Awards applications and ConferencePhase 4 August 24 Applications close September 7 First cut to Top 100 applicants (via filtering) September 21 Second cut to 30 quarter-finalists (online panel review) October 5 Third cut to 15 semi-finalists (online panel review)Phase 5 November 1 Announcement of ten finalistsPhase 6 December Pre-event publicity and promotion December 5/6 Final live judging and selection December 7 Alumni workshop December 8 CONVERGENCE: AFRICA conference on Entrepreneurship December 8 Gala Awards dinner at KICC, Nairobi, KenyaFor more information visit www.AfricaAwards.com
  4. 4. ConvergenCe: AfrICAFor the first time, in 2011, the activities • Keynote address and Q&A witharound the concluding Gala Awards Sir Richard Bransondinner for the Africa Awards for • Inspirational talks and perspectivesEntrepreneurship will include a prestigious on African business by the continent’sone-day conference headlined by Sir most respected leadersRichard Branson. CONVERGENCE: • Moderated Master Classes led byAFRICA is the platform that brings experts from a range of industrytogether the entrepreneurs, investors, disciplinespolicy-makers and businesspeople who • Practical solutions for expandingwill fuel the continent’s continuing growth. business and supportingThe conference will be informative, entrepreneurshippractical, and above all, actionable; it will • Pitching opportunities for selectedbe built around a series of Master Classes businesses with Venture Capital andled by outstanding business leaders from Private Equity investment firmsAfrica and overseas, and will culminatein an exclusive session designed to matchenlightened investors and a selection ofthe brightest entrepreneurs and theirbusinesses in a series of rapid-fire meetings– in what we call Investor Speed Dating.
  5. 5. HistoryLegatum and its partner, Omidyar Award Ceremony held in Kigali on 30thNetwork, have been long-time November 2007. The five other winnerssupporters of entrepreneurship in Africa, that night were Enterprise Urwibutsoreflecting their shared commitment (Rwanda); Good African Coffee (Uganda);to market-based solutions to reducing KenCall (Kenya); Tele-10 (Rwanda); andpoverty. In 2007, Legatum developed Virtual City (Kenya).the first Pioneers of Prosperity AfricaAwards. By celebrating the success of The 2008 Africa Awards programmeAfrica’s leading entrepreneurs, our built upon the success of the inauguralintention is to draw attention to a few of 2007 Awards and, with more than 1,400the thousands of success stories in Africa. entries, more than tripled the number ofSuch demonstrated success encourages applications from small and medium-sizedgreater entrepreneurship, while also enterprises in an expanded field of 10attracting more international capital and countries – Botswana, Cameroon, Côteinvestment into a continent that has an d’Ivoire, Ghana, Kenya, Namibia, Nigeria,outdated and inaccurate reputation for Rwanda, South Africa and Uganda. Onpersistent poverty and dependency. Wednesday 19th November 2008, the winners were announced at a ceremonyIn 2007, more than 450 small and held once more in Kigali, Rwanda, andmedium-sized businesses from the graced by the presence of H.E. PaulEast African countries of Burundi, Kagame, President of the Republic ofKenya, Rwanda, Tanzania and Uganda Rwanda and H.E. Mwai Kibaki, Presidentcompeted for five prizes of US $50,000 of the Republic of Kenya.and the Grand Prize of US $100,000.Each company was rigorously evaluated The judging panel, led by 2007according to four criteria – effective Grand Prize winner Ariff Shamji ofbusiness performance, leadership, AAA Growers, selected Superfluxcommitment to employees and long- International, a security printing solutionsterm sustainability – and 11 finalists company from Nigeria, as the Grandwere chosen to appear before the final Prize Winner. The five winners of USjudging panel. AAA Growers, a Kenyan $50,000 each were: AAR Health (Kenya);agri-business was awarded the Grand Africa Polysack Industries Ltd. (Uganda);Prize in the inaugural year, receiving their Gahaya Links (Rwanda); Integr8IT GroupAward from His Excellency President (South Africa); and Safi Cleaning (Uganda).Paul Kagame of Rwanda, in a Gala
  6. 6. 2010 was our most successful year winner, has grown to become Africa’syet with more than 2,700 applications largest privately-owned ICT service andreceived from 15 countries, having added solutions provider, employing more thanEthiopia, Mozambique, Sierra Leone, 500 people. Eva Muraya, CEO of ColorTanzania and Zambia; and 18 industry Creations and a 2007 finalist, has been asectors were represented. At an invite- recipient of a Goldman Sachs/FORTUNEonly Gala Awards Banquet in Nairobi, Global Women Leaders Award.Africa’s business leaders saw the GrandPrize awarded to Kamal Budhabhatti of Over the years of supporting the AfricaCraft Silicon, a Kenya-based provider Awards, we have heard countlessof software solutions for the financial stories of opportunities and challenges.industry; other winners of $50,000 Despite differences in the size of theireach were Mellech Engineering (Kenya); business or the nature of their industry,Planbuild Technology (Uganda); Sigma entrepreneurs share some commonElectric (Ethiopia); Tutuka Software characteristics. They have an eye for(South Africa); and Wilkins Engineering opportunity, a tolerance for risk, resilienceof Ghana. in the face of adversity, and determination in the pursuit of their vision.The success and recognition enjoyedby previous winners and finalists is not All of the Africa Awards finalists havelimited to the Africa Awards programme: demonstrated these characteristicsin 2010, John Waibochi of Virtual City, and more: they lead by example and2007 winner from Kenya, won the Nokia inspiration; they are open yet decisive;US $1,000,000 Growth Economy Venture passionate and energetic; respectful ofChallenge. KenCall, also of Kenya, has their staff and the constituencies thatbeen the subject of an MBA educational support them, and are driven by thecase study at Harvard Business School, responsibility of being part of a largerreflecting its win as best Non-European community – of customers, staff, the city,Centre at the Call Centre Focus Awards and the business networks – upon whichin 2009. Janet Nkubana of Gahaya they rely. We are honoured to supportLinks, a 2008 Winner from Rwanda, these leaders and be a part of this vibranthas not only won the Exporter of the community of entrepreneurs.Year Award and best Corporate SocialResponsibility Awards in Rwanda, but hasbeen featured in O, The Oprah Magazineand on CNN. Intergr8IT group, a 2008
  7. 7. Last Year’s Winner 2010 Grand Prize Winner Kamal Budhabhatti CEO, Craft SiliconIn October 2000, Kamal Budhabhatti Actively engaging the staff and creating afounded Craft Silicon, a Kenya-based comfortable working environment, Craftglobal software development and services Silicon has rapidly become an employer ofcompany; in December last year, he and choice attracting the brightest and best andhis company were the $100,000 Grand creating a loyal and stable employee base.Prize Winners of the 2010 Africa Awardsfor Entrepreneurship. Craft Silicon has The Craft Silicon Foundation providesgrown to become one of the biggest free computer education in the slum areassoftware houses across the emerging of Nairobi. A bus, equipped with desks,markets and now delivers solutions to computers, and rooftop solar visits fourfinancial and insurance institutions in slums every day with two tutors instructingKenya and 38 countries worldwide. students in the basics of computer and internet usage, over a two month course.In every way, Kamal embodies the spirit ofthe Africa Awards - a passionate believer Kamal’s goal is to grow to 5,000 employeesin his own ideas around innovation, in the next five years and to list Craftsuperior product, and a profitable and Silicon on the London or New York Stockgrowing business, he also demonstrates Exchange. We are honoured to recognisethe critical importance of managing human Kamal and Craft Silicon as inspiring rolecapital and the communities he serves. models for all African entrepreneurs.