Legatum Prize seeks out profitable innovators

The Ghanaian Times reports that ten African countries have been selected to participate in the 2008 Legatum Pioneers of Prosperity Africa Awards programme, which "recognises and rewards business leaders of Africa who serve as role models to the continent’s aspiring entrepreneurs and demonstrate business excellence, innovation and profitability" [a noble aspiration indeed].

Privately-owned Legatum, in collaboration with S.E.VEN (Social Equity Venture Fund) and the OTF Group, is accepting submissions from (in alphabetical order) Botswana, Cameroon, Cote d’Ivoire, Ghana, Kenya, Namibia, Nigeria, Rwanda, South Africa and Uganda. More than 1,200 businesses from those countries are expected to submit applications. Atotal of $350,000 will be awarded to the winners, who will be selected on their ability to operate truly sustainable and innovative businesses.

The winners of the 2007 Awards were profiled in the documentary film "Unlocking Africa", directed by Jeff Zimbalist, which Afro Leo and his friends can watch here.