Silungwe tips Zambia entreprenures as ABH applications open

MARGARET CHISANGA
Lusaka
MARKET research, planning and resilience, coupled with regular self-evaluation topped advice tips from Africa Business Heroes 2023 Top 20 finalist, Sunday Silungwe during the Africa’s Business Heroes Prize Competition 2024 Edition application information session in Lusaka.
Mr Silungwe, who is the Co-founder of Good Nature Agro and is an ABH 2023 Top 20 finalist shared his entrepreneurial journey, highlighting examples for moments he had to step up and evaluate his business model and performance before embarking on major steps.
The event, attended by several entreprenures and start-up reresentatives, was aimed at highlighting the ABH Prize competition and presenting the opportunity for entrepreneurs to take up the opportunity to apply. The competition makes available a 1.5 million USD Grant funding for African entrepreneurs (start-ups founders and co-founders) & small business owners who make it through to the different stages.
The Lusaka event was organised in collaboration with BongoHive Zambia together with local entrepreneur organisations and the ABH community members.
“This was a great opportunity for me, and it is something that I would want several start-ups in Zambia to participate in because you grow as experience the different opportunities that the process presents,” he said.
Mr Silungwe provided advice tips and shared several learning experiences as he interacted and took in questions during the panel discussion. Later, entrepreneurs had an opportunity to share dreams, exchange ideas and hear strategies for growth in African markets during the networking session.
Many shared knowledge on how to apply for the Africa’s Business Heroes grant. The application process for the ABH 2024 edition opened on March 4 and will close on May 19. The top 50 finalists will be announced in July, followed by the announcement of the top 10 in September, while the final winners will be unveiled at the Grand Finale in November.
The competition, hosted by the Jack Ma Foundation, offers free grant funding, training, spotlighting and networking opportunities for African entrepreneurs. The winners further get access to entrepreneurship training opportunities to help harness the opportunities for growth in their business.
ABH has organized a series of roadshows in various selected African countries, including Zambia, to enhance engagement with entrepreneurs and streamline the application process.
Other speakers included Tahira Hardy, Programs Associate, Africa’s Business Heroes and Kabwela Malupande, Entrepreneurship Manager, BongoHive
Africa’s Business Heroes (ABH) prize competition is a pan-Africa philanthropic initiative sponsored by the Jack Ma Foundation and Alibaba Philanthropy, spotlighting, training and celebrating Africa’s entrepreneurs.
It aims to support, inspire and enable the next generation of African entrepreneurs across all sectors who are building a brighter future for the continent, by offering grant funding, free training programs and support for the development of an entrepreneurial ecosystem.
Over a 10-year period, each year the ABH Prize Competition features 10 entrepreneur finalists as they pitch their business to win a share of US$1.5 million in grant money.
Each year the Winner receives $300,000, the 1st Runner up gets $250,000, 2nd Runner Up gets $150,000 and the 7 other Top 10 finalists each receives $100,000 and the remaining $100,000 is split among all 10 finalists for additional training programs.
The aim of this networking event was to present the ABH initiative, share valued insights as well as enhance the chances of success in the competition for local entrepreneurs in Zambia.