The awards, run by investment firms Legatum and Omidyar Network, are designed to honour and celebrate Africa's most innovative and inspiring entrepreneurs. NTR Technology is a diversified engineering group specialising in industrial automation, electrical distribution, ICT, telecommunication, electrical and mechanical engineering and fleet management systems. Should it be successful, the wholly citizen-owned and ISO-registered company will be presented with various accolades in Nairobi, Kenya on December 6. Designed to promote commerce as a driving force in Africa's economic growth, the Africa Awards focus on celebrating the standards of business excellence within Africa and building a strong network of African entrepreneurs as a source of learning and shared best practices.
More than 2, 700 companies from 15 countries submitted entries to compete for the grand prize of US$100, 000 and five other prizes of US$ 50, 000 each. Speaking about the Awards, Alan McCormick, Managing Director of Legatum, commented: "This year's Africa Awards has far surpassed our expectations in terms of quality and leadership and trumpets the message that Africa is open for business. The 10 finalists from diverse sectors and geographies all demonstrate the vital role played by entrepreneurs in creating opportunity and growth within their economies, and through the Africa Awards, Legatum is pleased to recognise these leaders of remarkable companies and the contribution they are making to promoting prosperity across the continent."
Other finalists are from countries such as Kenya, Uganda, South Africa, Ethiopia and Ghana.
The competition was launched in July 2010 and entrepreneurs submitted applications from Botswana, Cameroon, Ethiopia, Ghana, Ivory Coast, Kenya, Mozambique, Namibia, Nigeria, Rwanda, Sierra Leone, South Africa, Tanzania, Uganda and Zambia.
Finalists will make formal presentations to an international jury of business leaders, entrepreneurs and investors in Nairobi early this December. The jury will be chaired by Tokunbo Talabi of Superflux International, the Grand Prize Winner of the 2008 Africa Awards and will include some of Africa's most prominent business leaders amongst whom are Dr. Manu Chandaria, Chairman of Comcraft Ltd.; Dr. James Mwangi, CEO of Equity Bank; and Mr. Kibuga Kariithi, ex-CEO of Nairobi Stock Exchange.
The 2010 Africa Awards winners will be announced at a Gala Banquet, attended by an invitation-only audience of Africa's business leaders, policymakers and investors, on Monday December 6 in Nairobi.
"Omidyar Network and Legatum share the conviction that entrepreneurs are vital to fostering new opportunities in Africa," said Matt Bannick, Managing Partner of Omidyar Network.
"We congratulate the 10 finalists. They clearly demonstrate the dynamic leadership, entrepreneurial spirit, and commitment to innovation that has enabled them to achieve success and create opportunity in their countries of operation."