Zimbabwean Entrepreneur Ethel Mupambwa, Awarded US$150k At 2020 Africa's Business Heroes Competition


After seven months of searching, four review processes and adapting to a purely digital form of engagement, Africa's Business Heroes, a Jack Ma and Alibaba Group Initiative announced their 2020 Top 10 Africa’s Business Heroes. 

Ethel Mupambwa, a Zimbabwean entrepreneur was announced as the second runner up and people's choice winner and walked away with a price money of US$150 000 for her MoneyMart Microfinance project, a Zimbawean based microfinance institution that offers tailor-made business loans to MSMEs and individuals who live off the power grid to access quality solar-lighting-kits. 


Ethel holds a degree in Finance from National University of Science and Technology in Zimbabwe. She joined the Micro-Finance industry in 2012 and in 2014 founded MoneyMart Finance and is currently the Chief Executive Officer. 

Ethel’s passion is in the area of financial inclusion having grown up in a financially excluded area in rural Gokwe in Zimbabwe. She is passionate about working with women who do not have access to funding and financial solutions, especially the low income earning micro-entrepreneurs such as vegetable vendors who are usually excluded from mainstream financial services.

First Runner up was Oluwasoga Oni from Nigeria, CEO & Co-Founder of Mdaas Global whist Chebet Lesan from Kenya, Founder & CEO of BrightGreen Renewable Energy was crowned winner and walked away with US$300K

The 2020 Africa's Business Heroes Competition finale judges were Ibukun Awosika - Chairman, First Bank of Nigeria Limited, Lucy Peng - Co-Founder and Partner of Alibaba Group, Executive Chairwoman of Lazada Group, Strive Masiyiwa - founder and executive chairman, Econet Group and Joe Tsai - executive vice chairman, Alibaba Group

Jack Ma first visited Africa in 2017 in his capacity as special adviser to UNCTAD Secretary-General Mukhisa Kituyi. During his trip, he was inspired by the entrepreneurial energy and potential he saw in the young people he met. Jack committed to do his part to inspire, train and support entrepreneurs in Africa to build inclusive business models that can create jobs and economic opportunities for the continent.

As part of this commitment, in 2018, Jack announced the establishment of the Africa Netpreneur Prize Initiative (ANPI) with an initial $10 million grant to identify, spotlight and award grant-funding to 100 Africa's Business Heroes across Africa over the next 10 years.

The inaugural Africa's Business Heroes competition was held November 2019, in Accra, Ghana. To strengthen the African entrepreneur ecosystem by identifying, telling the stories of, training, and awarding grant-funding to 100 Africa's Business Heroes across Africa over the next 10 years.


Congratulations Ethel

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