Legatum, a privately owned international investment group, in collaboration with S.E.VEN (Social Equity Venture Fund) and the OTF Group announced the 2008 Legatum Pioneers of Prosperity Africa Awards and opened the program for submissions. Ingenuity and innovation from within Africa is the key to the continent’s future prosperity and the promotion of sustainable, for-profit businesses is an essential driver for development.
The 2008 Legatum Pioneers of Prosperity Africa Award recognizes and rewards business leaders of Africa who serve as role models to Africa’s aspiring entrepreneurs and demonstrate business excellence, innovation and profitability. Leaders of small and medium enterprises have the opportunity to participate until 31 August 2008.
The Award program has expanded its reach in 2008 and more than 1,200 firms across ten countries are expected to submit applications. This year, submissions will be accepted from Botswana, Cameroon, Cote d’Ivoire, Ghana, Kenya, Namibia, Nigeria, Rwanda, South Africa and Uganda. A total of USD 350,000 will be awarded to the winners, and the funds directed towards growth and strategic re-investment in the business. Winners will be selected based on a rigorous and transparent selection process by an international panel of leading business experts.
Speaking about the 2008 Legatum Pioneers of Prosperity Africa Awards, Managing Director, OTF, Mr. Eric Kacou said “ Successful and innovative entrepreneurs are abounding in Africa. We are truly excited to identify and reward six more Pioneers of Prosperity in 2008. These businesses will serve as role models to the next generation of entrepreneurs in Africa.”
Alan McCormick, Managing Director of Legatum added, “Business is a key driver of development, providing scalable and sustainable solutions for economies. We see the Pioneers of Prosperity Africa Award as an investment that will deliver exceptional returns by paving the way for increased investment in Africa and the development of capital markets.”
The 2008 Award program builds on the success of the inaugural Legatum Pioneers of Prosperity Africa Award in 2007 which attracted over 450 firms from five countries in East Africa. Six winners —AAA Growers (Grand Prize Winner), Good African Coffee, Entreprise Urwibutso, KenCall, Tele-10 and Virtual City were recognized during the Award Ceremony hosted by His Excellency President Paul Kagame, in Kigali on November 30, 2007. These winners have been profiled in the documentary “Unlocking Africa”, directed by award-winning filmmaker Jeff Zimbalist.
Winners will be selected on their ability to operate truly sustainable and innovative businesses. Winners will be chosen based on their ability to:
• Create unique value for customers through innovative products and/or services.
• Generate sustainable profit for owners/shareholders commensurate with the risks taken by investing in them.
• Invest in their employees through training, safe working conditions, and high and rising salaries.
• Protect the future by strengthening local and global environments and communities.
This competition is open to all businesses in participating nations meeting the following eligibility criteria:
• For profit entity in existence for three years or more
• Should be located in one of the 10 countries competing in PoP 2008
• Annual revenues of below or equal to $US 25,000,000.
To register, companies should visit www.pioneersofprosperity.org and fill in the application form online. The deadline for submission applications is August 31, 2008. For any information on the competition, please do not hesitate to contact the organizers by email at firstname.lastname@example.org.
Tel: +971 4 317 5800
Hashim Wasswa M
Tel :+250 0830 4980
Legatum is a privately owned international investment group whose primary focus is commercial investment, and which also applies its investor’s expertise to a long- standing involvement in the sustainable development of communities around the globe. Based in Dubai, with an office in London, the Legatum is comprised of four divisions, Legatum Capital, Legatum Global Development (“LGD”), the Legatum Institute, and the Legatum Center at MIT .
Legatum Global Development promotes global prosperity by applying market based solutions to long-term development problems. For more information, please visit Legatum’s main website at www.legatum.com, and for Legatum Global Development, please visit www.legatum.org
The documentary of the 2007 Awards program, “Unlocking Africa” may be seen at www.legatum.com/unlockingafrica
S.E.VEN (Social Equity Venture Fund) is a virtual non-profit entity run by entrepreneurs whose strategy is to markedly increase the rate of diffusion of enterprise-based solutions to poverty. We do this by targeted investment that fosters thought leadership through books, films and websites; supporting role models - whether they are entrepreneurs or innovative firms - in developing nations; and shaping a new discourse in government, the press and the academy around private-sector innovation, prosperity and progressive human values.
About OTF Group
The OTF Group is the competitiveness consulting firm that brings the deepest experience to help build prosperity in developing economies. For decades, OTF Group members have been leaders of change in more than 35 countries and over 20 industrial sectors, from tourism to consumer packaged goods, from agribusiness to financial services.
Today, the OTF Group continues to be the thought leader on competitiveness in developing economies and emerging markets. The OTF Group advises developing companies, regions, and nations to be more innovative, increase productivity and create competitive advantage. The OTF Group accomplishes this through its unique coaching and consulting services, and its proprietary methodologies and software technology.
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