Africa Business Communities

Pan African Resources : Africa Awards Beckon

Botswana entrepreneurs have been encouraged to take advantage of the African Entrepreneurship Award (AEA) which is powered by BMCE Bank of Africa.

Speaking at a press briefing, director of Digital Communications, BMCE Bank of Africa, Ms Laila Ahlafi said AEA promoted Pan African projects with technological components and ways to improve lives in Africa.

"This award is a commitment to BMCE's long standing values of social responsibility including inspiring the future for our young African generations," she said. She indicated that the award also promotes entrepreneurship on the African continent by investing US$1millionannually in talent and technology that transcend borders.

Ms Ahlafi further said the award granted US$1million to 10 African entrepreneurs in October 2015.

"For 2016 the award categories are education, environment and uncharted domains with high impact. The award also seeks business ideas from 54 African countries in four languages being English, French, Portuguese and Arabic," she said, adding that February is when they opened for submissions and deadline is March.

She said the award is also open to everyone all over the world as long as the idea/project is solely to the direct benefit of African society.

Ms Ahlafi further said last year they had 5000 entries from 54 African countries and 99 in the diaspora. "This year, based on 400 million African aged 18-40 and benchmarking other African awards, we anticipate 10 000 business proposals," she said.

BMCE Bank of Africa is a private group with Moroccan roots and Pan African ambition founded in 1959 with total deposits of US$18 billion, making it the second largest bank in Morocco and the 14th largest inAfrica and operates in 19 of the 54 countries in Africa.

Ms Ahlafi further said entrepreneurs will be able to work with mentors to fine tune their ideas if they make it past the first stage going forward.

How they identify the mentors to help entrepreneurs with their business proposals once they have made it past the first stage, Ms Ahlafi said mentors work on a volunteering basis.

"What we look for in a mentor is that they should have two successful businesses and one failed business and we are looking for 20 of those inBotswana. So far we only have two mentors from Botswana," she said.

She indicated that her team will be in Botswana for a week to meet with potential partners and mentors to help with the African Entrepreneurship Award.

BOPA 

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