Business News of 2012-10-12

Ghana lost out at the 2012 Africa Awards for Entrepreneurship

Ghana lost out at the 2012 Africa Awards for Entrepreneurship even though three companies – Fidelity Bank, RLG Communications and Rancard Solution were among 12 top companies shortlisted for recognition at a ceremony in Accra on Thursday.

“La Laiterie du Berger,” Senegal’s only dairy processing company that sources and processes milk from semi-nomadic Fulani pastoralist was adjudged the winner in the Outstanding Small and Growing Business Award category. La Laiterie was given a plaque and 50,000.00 - dollar prize money.

Bridge International Academies of Kenya described as a global leader in providing high quality, low cost pre-primary education to children of parents living under two dollars per day was adjudged the first runner up under the category.

Secured ID of Nigeria, a foremost Smart Card manufacturing company in Nigeria won the Mature Business Award, with prize money of 100.000.00 dollars and plague.

The Transformational Business Award category was won by Quality Chemicals Industries Limited, a Ugandan leading life sciences and distribution company that locally manufactures anti-malarial and antiretroviral drugs to combat Africa’s greatest challenges, malaria and HIV and AIDS.

Lifetime Achievement Award was conferred on more than 80 year- old Dr. Richard Maponya of South Africa a senior African business leader, who has served as an entrepreneurial icon for several decades and has left an enduring legacy of success in South Africa.

The 2012 Africa Awards for Entrepreneurship was organised by African Leadership Network, the premier membership network of new generation leaders in Africa, and Omidyar Network, a philanthropic investment firm.

The Africa Awards for Entrepreneurship recognise and award exceptional entrepreneurial leaders who serve as role models to Africa's aspiring entrepreneurs and demonstrate business excellence, innovation and profitability.

The Outstanding Small and Growing Business Award is classified as a young, remarkable business with revenues between 500,000.00 dollars and 5 million dollars.

The Mature Business Award, is awarded to a remarkable African business with revenues between 5 million dollars and 50 million dollars; whilst the Transformational Business Award, is bestowed on a notable business leader who has had a major socio-economic impact in Africa by building a business with revenues greater than 50 million dollars.

Mr. Fred Swaniker, Chief Executive Officer and co-founder of the African Leadership Network commended the finalists for their outstanding work, stressing that the 2012 Awards have been particularly competitive. He said the companies involved represent the finest of a shortlist of 1,200 companies from 50 African countries.

He said the Network believes that entrepreneurship is critical to building prosperity in Africa. “These Awards shine a light on Africa’s most promising entrepreneurs and distinguish them as role models for the next generation of entrepreneurs. We hope that the recognition will help them have even greater impact on the continent.”

The Africa Awards for Entrepreneurship was established in 2007 by the Legatum Group to recognise and award business leaders who serve as role models to Africa’s aspiring entrepreneurs and who demonstrate business excellence, innovation and profitability.

Now in its sixth year of existence, the Awards have grown into Africa’s most prestigious business and entrepreneurship honours. In July 2012, the African Leadership Network won the exclusive license to host the Awards from Legatum Group.

Omidyar Network, the philanthropic investment firm dedicated to harnessing the power of markets to create opportunity for people to improve their lives, sponsored the awards for the third consecutive year.