Competition , August 20, 2010 (Addis Ababa) - Legatum, a privately owned international investment group, and Omidyar Network, a philanthropic investment firm based in Dubai, invited Ethiopian companies to contest for the 2010 African Entrepreneurship Award.
This will be the first time for the Ethiopian companies to be invited to participate in the competition, organizers said.

The announcement to select Ethiopia among 15 African states were made on Tuesday during the launching of the 2010 Legatum Africa Awards for Entrepreneurship, which claims to be one of the continent’s most prestigious business awards.

According to the press statement newbusinessethiopia.com received from Legatum, the 2010 award ceremony is scheduled to be held in Accra, Ghana in December 2010 where African business people and invited guests are expected to attend the award ceremony.

The Legatum Africa Awards program recognizes and rewards African business leaders who embody the entrepreneurial spirit and demonstrate the qualities required to succeed in business - determination, a commitment to excellence, innovation and profitability.

“This is the third year that Legatum has offered an award for Entrepreneurship in Africa. And over that time we have found many dynamic\ entrepreneurs across the continent, whose businesses are building prosperity for their communities,” said Alan McCormick, Managing Director of Legatum.

The 2010 Africa Awards program builds upon similar competitions in 2007 and 2008, and is expected to attract 1,500 entries from fifteen African countries.

This year, submissions will be accepted from Botswana, Cameroon, Cote d’Ivoire, Ethiopia, Ghana, Kenya, Mozambique, Namibia, Nigeria, Rwanda, Sierra Leone, South Africa, Tanzania, Uganda, and Zambia.

A total of US$ 350,000 will be awarded to the winners, and the funds directed towards growth and strategic re-investment in their companies.

Winners will be selected based on a rigorous and transparent selection process by an international panel of leading business experts.

Leaders of small and medium sized enterprises (annual revenues between US $2 - $25 million) are entitled to apply for the award at the address of; www.africaawards.com

“Omidyar Network and Legatum share the conviction that entrepreneurs are vital to creating new Opportunities in Africa”, said Matt Bannick, Managing Partner of Omidyar Network.

“With the expanded reach of this year’s awards, we will identify and support the dynamic business leaders who are driving innovation, economic growth and terrific new opportunities across the continent.”

Entrepreneurship Award Competition to be held in December this year in Ghana, Accra

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