A record 32,000 entrepreneurs took part in the 2025 African Business Heroes summit in Rwanda on Saturday, in the seventh annual edition of the largest event for start-ups of its kind on the continent.
The event, organised by the Jack Ma Foundation since 2019 and sponsored by Alibaba Philanthropy, aimed to recognise 100 outstanding entrepreneurs over the course of 10 years. Applications came from across 54 African nations, while the finalists were selected from applicants from Cameroon, Egypt, Kenya, Rwanda, Senegal, South Africa and Tanzania.
Each year, 10 finalists are selected to receive a share of US$1.5 million in grant funding, with the winner receiving up to US$300,000. The event this year attracted investors, policymakers, industry experts, students and start-up entrepreneurs from a wide range of industries, according to the organisers.
Advertisement
Africa’s future would be “shaped by African entrepreneurs” because “Africa has never lacked entrepreneurial spirit” and “Africans have never lacked problem-solvers,” said Sun Lijun, the chairman of Alibaba Foundation and president of Alibaba Philanthropy, during the event’s opening ceremony on Friday.
“Many of Africa’s development challenges can be explored and solved through African innovation,” he said. “We believe that a new generation of outstanding African entrepreneurs will bring transformative change to Africa.”
Advertisement