Connect with us
Anglostratits

Business

Africa’s Business Heroes Announces Top 50 Finalists for 2024 Prize Competition

Published

on

Business Heroes

The competition is a philanthropic program supported by the Jack Ma Foundation and Alibaba Philanthropy to honor and elevate African entrepreneurs

KIGALI, Rwanda, July 31, 2024/APO Group/ — 

After receiving ~20,000 applications from all 54 African countries, the Africa’s Business Heroes (ABH) (www.AfricaBusinessHeroes.org) Prize Competition has revealed the Top 50 Finalists for its 2024 edition. The competition is a philanthropic program supported by the Jack Ma Foundation and Alibaba Philanthropy to honor and elevate African entrepreneurs. This year’s competition reflects an increasingly diverse applicant pool cementing the competition’s reputation as Africa’s largest and most inclusive competition.

Since its inception in 2019, ABH has dedicated itself to identifying, supporting and spotlighting talented African entrepreneurs. Annually, this sector-agnostic competition awards a total grant of $1.5 million to 10 deserving entrepreneurs. Beyond financial support, ABH provides its Finalists and the broader entrepreneurial community with significant exposure, training, mentorship and networking opportunities.

“Over the past five years, the ABH Prize Competition has seen growth and increased participation from critical demographics, reflecting our commitment to inclusivity. This year, we are thrilled to recognize the exceptional talent and potential of the top 50 Finalists, who embody the diverse entrepreneurial spirit of our continent.  As these entrepreneurs lead the way toward a brighter future for Africa and beyond, we’re proud to highlight their innovative achievements. At the same time, we look forward to the continued impact of ABH in empowering African entrepreneurs and driving positive change across the continent,” said Zahra Baitie- Boateng, Managing Director, Africa, Africa’s Business Heroes Initiative.

Expanding Reach and Inclusivity

The 2024 call for applications received submissions from all corners of Africa, demonstrating the continent’s vibrant entrepreneurial spirit. Notably, female applicants reached 39%, surpassing the five-year average of 30% and North African representation increased from the five-year average of 5% to 9%.

Building on this momentum, the 2024 ABH top 50 represents a diverse spectrum, encompassing 14 sectors across 18 countries, with 40% female and 20% francophone representation. Agriculture remains the most prominent sector, alongside strong showings in Education and Healthcare, continuing trends from previous years. This diversity among finalists mirrors the broad range of applicants, underscoring ABH’s commitment to inclusivity. Increased participation across regions and demographics reflects a growing cadre of changemakers making significant local and global impacts.

Benefits for the Top 50 Finalists

Over the past five years, the ABH Prize Competition has seen growth and increased participation from critical demographics, reflecting our commitment to inclusivity

The top 50 Finalists will receive a range of benefits enhancing their entrepreneurial journey as they advance to the next stages of the competition. They will become members of the global ABH community, gaining access to a network of like-minded innovators. Additionally, they will benefit from ABH programs, designed to further develop their skills and business acumen. One of the first of these activities is the ABH Top 50 Virtual Bootcamp, where Finalists will participate in capacity-building workshops delivered by African business leaders and members of the entrepreneurial ecosystem, including ABH partners, judges, and Heroes.

The workshop sessions cover a range of essential topics. Dorcas Rutunda (https://apo-opa.co/3A5UhU8), Head of Expansion at ITM Africa Ltd. (www.ITM-Rwanda.com), will lead a session on building a winning team. Ozan Sonmez (https://apo-opa.co/3WrZv3Z), an ABH Judge, will discuss leveraging AI for business productivity. There will be a session offering insights on hacking growth through digital marketing. Business planning will be covered by Guillaume Darnaudet (https://apo-opa.co/4ftVipo), an entrepreneur and coach with GD Consulting. Additionally, there will be a session on investment readiness conducted by Founders Factory Africa (www.FoundersFactory.Africa).

Finalists will also receive extensive media exposure through press releases, articles, and media interviews which will amplify their business stories and successes.

2024: Highlighting Innovators and Enhancing Community

Over the years, ABH has showcased outstanding participants through traditional media and social media channels. This has included providing significant exposure to the top 10 Finalists via the ABH Show, which recounts their ABH journey and entrepreneurial stories through the pitch competition. This year, ABH continues to highlight the inspirational narratives behind past Finalists’ entrepreneurial journeys through its ‘Hero Stories’ series on social media.

ABH has also announced an upcoming community-building initiative, in recognition of the continent’s emergence as a hub of entrepreneurial excellence. In addition to its grant and other programs, ABH is set to further support trailblazing entrepreneurs reshaping industries and creating global impacts by launching hubs in major African cities, which will be announced soon.

The Top 50 Finalists will now advance to Round 2 of the ABH evaluation process. In August, the Top 20 Finalists will be announced and proceed to Cairo for the Semi-Finale after a rigorous due diligence process by PlusVC (https://Plus.VC). The Top 10 Finalists will then be revealed in September and pitch at the Grand Finale in Kigali, Rwanda in early December.

For details about this year’s 2024 ABH top 50 participants, please visit: www.AfricaBusinessHeroes.org.

Distributed by APO Group on behalf of Africa’s Business Heroes (ABH).

Business

Congo Is Turning Reserves into Bankable Projects – and the Investment Window Is Opening

Published

on

Etu Energias

Eni-led LNG expansion and ongoing deepwater investment are pushing the Republic of Congo’s energy sector toward more bankable projects ahead of the Congo Energy & Investment Forum 2027

BRAZZAVILLE, Congo (Republic of the), June 23, 2026/APO Group/ –With LNG exports set to triple to 3 mtpa, upstream oil production targeting 500,000 bpd and a renewed push on local content, the Republic of Congo is positioning itself as one of Central Africa’s most investable hydrocarbon markets. Under the leadership of the newly-appointed Minister of Hydrocarbons, Stev Simplice Onanga, the country is prioritizing industry growth by balancing local content with reserve replacement and project advancement.

 

What sets Congo apart is not the scale of its reserves, but the pace at which those reserves are being turned into commercially viable projects. From Eni’s LNG expansion and TotalEnergies’ deepwater developments to brownfield optimization by Trident Energy and output growth at Ammat Global Resources, capital is flowing into projects with clearer monetization pathways and nearer-term returns.

Ahead of the Congo Energy & Investment Forum (CEIF) 2027 – the country’s leading platform for energy investment and partnerships – the story is shifting away from frontier potential toward bankable projects already under development.

Policy Reform Is De-Risking Investment

Congo’s investment case is being reshaped by the alignment of resource base, regulatory reform and project delivery. Established oil production, expanding LNG capacity and fiscal adjustments are gradually reducing above-ground risk.

Recent reforms led by the Ministry of Hydrocarbons and Société Nationale des Pétroles du Congo have added structure to the sector. The Gas Code, introduced in October 2025, formalizes fiscal terms for gas commercialization, while the Gas Master Plan prioritizes flaring reduction and gas-to-power deployment, targeting 1,500 MW by 2030.

A new upstream licensing round is also under consideration, aimed at attracting fresh capital into both mature and frontier acreage. Together, these measures are improving visibility across upstream, midstream and downstream segments, with recent project activity reinforcing the shift.

The Projects Driving the Next Cycle

Deepwater oil remains central to Congo’s production outlook, with operators progressing both new developments and brownfield optimization. TotalEnergies is advancing work at the Moho licence following the April 2026 Moho G discovery, backed by a $500–$600 million infill drilling program targeting about 40,000 bpd in incremental output.

Local independent Ammat Global Resources is targeting 70% production growth from its Loango and Zatchi fields, where reactivated wells and upgraded platforms have already lifted output by 75%. Perenco continues steady gains, adding roughly 6,000 bpd through its 2025–2026 drilling program.

Trident Energy, after acquiring an 85% working interest in the Nkossa and Nsoko II assets in 2025, is focused on extending field life through subsea optimization and redevelopment work.

While oil continues to anchor revenues, gas is rapidly emerging as Congo’s fastest-growing segment. Eni’s Congo LNG project delivered its first cargo from Phase 2 in February 2026, following the startup of the Nguya FLNG unit in December 2025. Together with Tango FLNG, capacity has risen from 0.6 mtpa to 3 mtpa. Trident Energy has also proposed an FLNG project aimed at adding further capacity across the country’s gas market. The project is expected to operate as shared infrastructure, allowing multiple operators to process gas from their respective fields. This creates an outlet for associated gas that might otherwise be stranded, supporting the country’s broader diversification goals.

Local Content Is Reshaping Investment Terms

Beyond upstream policy, Minister Onanga has positioned local content as a central pillar of Congo’s investment framework, and a key determinant of how capital is structured and deployed.

Decrees 2019-342, 343, 344 and 345 set requirements around subcontracting, workforce localization and training commitments, with the effect being a gradual shift in how projects are structured and how partnerships are formed. Operators are increasingly assessed not only on technical delivery but on in-country value creation, including partnerships with local firms and skills development. Logistics, maintenance and other service areas are increasingly channeled through domestic providers.

At CEIF 2027 – taking place June 1–3 in Brazzaville – attention will shift to what is moving forward and to the investors positioned to take part in that pipeline. Congo’s energy sector is no longer defined by potential alone: projects are moving, capital is being committed and policy is starting to catch up with activity on the ground.

As the Republic of Congo moves from reserves to revenue, the signal to investors is clear: this is already unfolding, not a future opportunity.

Distributed by APO Group on behalf of Energy Capital & Power.

 

Continue Reading

Business

Afreximbank secures double honours at the 2026 International Association of Business Communicators (IABC) Gold Quill Awards for excellence in strategic communications

Published

on

Afreximbank

The Award of Excellence for IATF2025 recognises the successful communications and stakeholder engagement programme delivered around the fourth edition of the Intra-African Trade Fair, Africa’s premier trade and investment event

CAIRO, Egypt, June 23, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has been recognised with two prestigious honours at the 2026 International Association of Business Communicators (IABC) Gold Quill Awards, one of the world’s most prestigious awards programmes for strategic communications.

 

The Bank received an Award of Excellence in Special and Experiential Events category for the Intra-African Trade Fair 2025 (IATF2025) held in Algiers, Algeria and an Award of Merit in the Social Media category for its Afreximbank Social Media Campaigns, reaffirming Afreximbank’s commitment to delivering impactful communications that advance its mandate of promoting trade, investment and industrialisation across Africa and the Caribbean.

We are delighted to receive these two awards, which attest to the expertise, creativity and efficiency of Afreximbank’s communication

The Award of Excellence for IATF2025 recognises the successful communications and stakeholder engagement programme delivered around the fourth edition of the Intra-African Trade Fair, Africa’s premier trade and investment event. IATF2025 brought together governments, businesses, investors, buyers, sellers and entrepreneurs from across Africa and beyond, creating a platform for trade and investment opportunities while advancing the objectives of the African Continental Free Trade Area (AfCFTA). The communications campaign played a pivotal role in driving global awareness, stakeholder participation, media visibility and engagement before, during and after the event, while showcasing the scale, ambition and dynamism of African enterprise and reinforcing a positive narrative about Africa’s capacity to trade, industrialise and compete on the global stage. Over 120,000 delegates attended IATF2025 in person and virtually, with deals worth over US$50 billion recorded.

The Award of Merit for Afreximbank Social Media Campaigns recognises the Bank’s strategic use of digital platforms to engage stakeholders, amplify its developmental impact and elevate conversations around trade, industrialisation, economic integration and investment opportunities across Africa and the Caribbean. Through a combination of compelling storytelling, thought leadership content, executive advocacy, multimedia production and real-time event coverage, Afreximbank’s social media platforms have continued to expand their reach and influence among policymakers, businesses, investors, development partners and the wider public. Among these platforms is the Afreximbank TV, a digital TV channel that is wholly owned and managed by Afreximbank, whose fifth edition was celebrated with dedicated coverage of IATF2025, providing live coverage of the activities to both pan African and global audiences.

Anne Ezeh, Director & Global Head, Communications and Events at Afreximbank commented: “We are delighted to receive these two awards, which attest to the expertise, creativity and efficiency of Afreximbank’s communications. As a pan African multilateral financial institution, we see storytelling as a powerful tool for advancing our mission — ensuring our initiatives, events, programmes and key announcements not only inform, but also inspire confidence, deepen engagement and amplify Africa’s transformation. These awards reinforce our resolve to continue delivering world-class communications that elevate African voices and projects a bold and authoritative narrative of the continent.”

Ms. Ezeh added that through innovative storytelling, digital engagement and integrated campaigns, the Bank will continue to amplify the impact of its programmes and partnerships  to project a more authentic narrative of Africa, one defined by opportunity, innovation, resilience and growing influence in the global economy.

For more than five decades, the IABC Gold Quill Awards have recognised excellence in strategic communications globally, celebrating programmes and campaigns that demonstrate measurable impact, innovation, creativity and outstanding execution. Widely regarded as the pinnacle of achievement in the communications profession, the awards are judged through a rigorous and independent evaluation process conducted by experienced communication leaders from around the world.

Distributed by APO Group on behalf of Afreximbank.

 

Continue Reading

Business

Islamic Development Bank (IsDB) Institute Unveils 2025 Annual Report During Group Annual Meetings in Baku

Published

on

IsDBI

In 2025, IsDBI significantly expanded its footprint in Islamic finance transformation, approving 25 new technical assistance projects valued at US$4.14 million and completing 19 projects worth US$3 million

The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) has released its 2025 Annual Report during the 2026 IsDB Group Annual Meetings held in Baku, Azerbaijan, showcasing a year of expanded impact in Islamic finance transformation, innovative solutions, and capacity development.

 

The report highlights how IsDBI strengthened its role as a global knowledge leader by advancing innovative solutions and scaling support to Member Countries through knowledge-based interventions, Islamic finance grants, and strategic partnerships.

In 2025, IsDBI significantly expanded its footprint in Islamic finance transformation, approving 25 new technical assistance projects valued at US$4.14 million and completing 19 projects worth US$3 million, supporting countries in strengthening regulatory frameworks and promoting inclusive financial systems.

Since 2013, the Institute’s interventions in this regard have reached over US$27.57 million across 181 projects benefiting more than 34 countries, underlining its sustained contribution to development outcomes across the Islamic world.

I am pleased to note that the Institute has continued to strengthen its unique role in the global development ecosystem

The Annual Report highlights major progress in IsDBI’s three flagship transformative projects, namely Awqāf Free Zones, Digital Postal Islamic Financial Services, and Smart Countertrade System, which have all advanced to pilot-ready stages. These initiatives aim to address global challenges such as financial inclusion, food and energy security, and trade resilience.

Furthermore, the Institute accelerated its focus on digital innovation in Islamic finance, enhancing its Islamic Finance Artificial Intelligence Assistant (IFAA) and hosting its first AI Hackathon on Islamic Finance, engaging more than 40 teams in developing cutting-edge solutions aligned with industry standards.

Human capital development in Islamic finance also remained a cornerstone of IsDBI’s work in 2025, with the delivery of over 20 training programs reaching around 500 professionals across Member Countries. A key achievement in this area was the Entrepreneurial Mindset Development Program, a flagship initiative equipping emerging leaders from 20 countries with innovation-driven and values-based entrepreneurship skills. The program was designed and implemented in collaboration with Prince Mohammed Bin Salman College of Business and Entrepreneurship, Saudi Arabia.

The Institute also strengthened its thought leadership through flagship publications, global partnerships, and digital engagement, reinforcing its position as a leading voice in Islamic economics and finance.

Commenting on the issuance of the Annual Report, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, said: “I am pleased to note that the Institute has continued to strengthen its unique role in the global development ecosystem by bridging knowledge creation, building human capital, and designing innovative solutions to address economic challenges.”

The 2025 Annual Report is accessible on IsDBI website here (https://isdbinstitute.org/product/isdbi-annual-report-2025/).

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

 

Continue Reading

Trending