Biodeal Laboratories, Craft Silicon and Mellech Engineering compete for US $350,000 in prize funds to be awarded to Africa’s most innovative and inspiring entrepreneurs. 10 finalists from Botswana, Ethiopia, Ghana, Kenya, South Africa and Uganda selected from more than 2,700 entries.
Nairobi, November 15th, 2010 – Legatum, a privately owned international investment group and Omidyar Network, a philanthropic investment firm, today announced the selection of three Kenyan companies as finalists of the prestigious 2010 Africa Awards for Entrepreneurship. Designed to promote commerce as a driving force in Africa’s economic growth, the Africa Awards focuses on celebrating the standards of business excellence within Africa and building a strong network of African entrepreneurs as a source of learning and shared best practices. More than 2,700 companies from 15 countries submitted entries to compete for the Grand Prize of US$ 100,000 and five other prizes of US$ 50,000 each.
The three Nairobi-based finalists are Biodeal Laboratories, a manufacturer of generic drugs and veterinary products; Craft Silicon, a developer of customised software solutions for the financial sector; and Mellech Engineering, a construction and engineering infrastructure company.
Speaking about the Awards, Alan McCormick, Managing Director of Legatum, commented, “This year’s Africa Awards has far surpassed our expectations in terms of quality and leadership and trumpets the message that Africa is open for business. The 10 finalists from diverse sectors and geographies all demonstrate the vital role played by entrepreneurs in creating opportunity and growth within their economies, and through the Africa Awards, Legatum is pleased to recognise these leaders of remarkable companies and the contribution they are making to promoting prosperity across the continent.”
The ten finalists of the 2010 Africa Awards for Entrepreneurship are:
- Biodeal Laboratories Ltd., Nairobi, Kenya
- Craft Silicon Ltd., Nairobi, Kenya
- Malcom-Ezindaleni Hydraulics and Engineering (Pty) Ltd., Middelburg, South Africa
- Mellech Engineering Ltd., Nairobi, Kenya
- NTR Technology Holdings (Pty) Ltd., Gaborone, Botswana
- Planbuild Technical Services Ltd., Kampala, Uganda
- Sigma Electric PLC, Addis Ababa, Ethiopia
- Steel & Tube Industries Ltd., Kampala, Uganda
- Tutuka Software (Pty) Ltd., Rivonia, South Africa
- Wilkins Engineering Ltd., Accra, Ghana
The competition was launched in July 2010 and entrepreneurs submitted applications from Botswana, Cameroon, Ethiopia, Ivory Coast, Ghana, Kenya, Mozambique, Namibia, Nigeria, Rwanda, Sierra Leone, South Africa, Tanzania, Uganda and Zambia.
Finalists will make formal presentations to an international jury of business leaders, entrepreneurs and investors in Nairobi early this December. The jury will be chaired by Tokunbo Talabi of Superflux International, the Grand Prize Winner of the 2008 Africa Awards and will include some of Africa’s most prominent business leaders amongst whom are Dr. Manu Chandaria, Chairman of Comcraft Ltd.; Dr. James Mwangi, CEO of Equity Bank; and Mr. Kibuga Kariithi, ex-CEO of Nairobi Stock Exchange. The 2010 Africa Awards winners will be announced at a Gala Banquet, attended by an invitation-only audience of Africa’s business leaders, policymakers and investors, on Monday December 6th in Nairobi.
“Omidyar Network and Legatum share the conviction that entrepreneurs are vital to fostering new opportunities in Africa.” said Matt Bannick, Managing Partner of Omidyar Network, “We congratulate the 10 finalists. They clearly demonstrate the dynamic leadership, entrepreneurial spirit, and commitment to innovation that has enabled them to achieve success and create opportunity in their counties of operation.”
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