Prestigious US$350,000 Africa Entrepreneurship Prize Launched

By 2010 Legatum Africa Awards For Entrepreneurship, PRNE
Monday, July 5, 2010

2010 Legatum Africa Awards to Recognise and Reward Africa's Entrepreneurial Business Leaders. Awards Ceremony to be Hosted in Accra, Ghana

DUBAI, UAE, July 6, 2010 - Legatum, a privately owned international investment group, and
Omidyar Network, a philanthropic investment firm, today announced the launch
of the 2010 Legatum Africa Awards for Entrepreneurship, one of the
continent's most prestigious business awards.

The Legatum Africa Awards programme recognises 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. Leaders of small and
medium sized enterprises (annual revenues between US$2 - 25 million) have the
opportunity to submit online entries at until
31st August 2010. Applicants will be evaluated across a unique set of
criteria to determine the winner.

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

Mr. McCormick continued, "The Legatum Africa Awards celebrates
the very best businesses from across Africa and showcases their leadership,
which through hard work, determination and a creative approach, are the
foundation for their nation's wealth and well-being. Our goal is to encourage
the next generation of aspiring business people and pave the way for
increased investment in Africa, a continent teeming with opportunity."

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

"Omidyar Network and Legatum share the conviction that
entrepreneurs are vital to creating new opportunities in Africa", said Matt
, 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."

The 2010 Legatum Africa Awards will conclude with a Gala
Awards Banquet in early December 2010 in Accra, Ghana. Finalists and winners
will be honoured in the presence of an international audience of leading
businesspeople, policymakers, and entrepreneurs.


Winners will be selected on their ability to operate truly
sustainable and innovative businesses and demonstrated excellence in:

    - Profitability, return on investment and growth
    - Investment in employees
    - Making a contribution to the community
    - Long-term business strategy
    - Innovative and effective marketing
    - Leadership, culture and values

This competition is open to all businesses meeting the
following criteria:

    - For-profit entity in existence for three years or more
    - Located in Botswana, Cameroon, Cote d'Ivoire, Ethiopia, Ghana,
      Kenya, Mozambique, Namibia, Nigeria, Rwanda, Sierra Leone, South
      Africa, Tanzania, Uganda or Zambia
    - Annual revenues of between US $2 - $25 million

Applications may only be submitted online at; the deadline for submission of applications is
31st August 2010. For more information, please contact


Legatum is a privately owned international investment group
whose primary focus is commercial investment, and which also applies its
investor's expertise to a long- standing involvement in the sustainable
development of communities around the globe.

For more information, please visit Legatum's website at


Omidyar Network is a philanthropic investment firm dedicated
to harnessing the power of markets to create opportunity for people to
improve their lives. Established in 2004 by eBay founder Pierre Omidyar and
his wife Pam, the organization invests in and helps scale innovative
organizations to catalyze economic and social change.

To date, Omidyar Network has committed more than $370 million
to for-profit companies and non-profit organizations that foster economic
advancement and encourage individual participation across multiple investment
areas, including microfinance, property rights, government transparency, and
social media. To learn more, visit


    Hamish Banks
    Tel: +971-4-317-5800

    Kelly Mason
    Omidyar Network
    Redwood City, CA
    Tel: +1-650-482-2566

    Alex Cudaback
    Jamestown Exploration Company
    Middleburg, VA
    Tel. +1-540-687-8690

Hamish Banks, Legatum, Dubai, Tel: +971-4-317-5800, hamish.banks at; Kelly Mason, Omidyar Network, Redwood City, CA, Tel: +1-650-482-2566, kelly at; PROGRAMME MANAGEMENT, Alex Cudaback, Jamestown Exploration Company, Middleburg, VA, Tel. +1-540-687-8690, alex at

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