Criteria

CBC - African Business Awards

The overall goal of the Awards is to recognise business leaders and companies that are making an outstanding contribution to the development of the continent and the economic aspirations of its ordinary citizens through innovation, example and by changing the perception of Africa’s potential in domestic and international markets.

We have decided to launch this year’s awards with 16 categories, including the lifetime achievement award.

These have been selected to cover fields and areas we felt were important to both the business community and their stakeholders. For this reason we are looking to honour companies which have excelled in their particular field and we will also be looking at the impact they have made on the industry, their workforce, the community at large and also the economy as a whole.

The awards will identify the leading stars in Africa and hopefully these will act as a catalyst for aspiring entrepreneurs and businesses throughout the continent.

The awards will recognise the businesses which have gone the extra mile to make a success of an environment which is both challenging and extremely rewarding. There seems to have been a definitive swing in mindset and the people are now turning to the private sector to generate results and to take the continent forward.

We will have a committee made up of our editorial board and network throughout Africa. These will shortlist nominees for each category and a judging panel will nominate the winner and in some cases a runner up for special mention.

Judging Criteria for CBC-African Business Awards 2008

Lifetime Achievement

This award honours the person who has made an outstanding and lasting difference to their industry in the continent including:

• Developing new markets, especially where these meet the needs of ordinary citizens and poorer consumers at the bottom of the pyramid
• Achieving strong and sustained corporate performance in terms of sales, profits and capital growth
• Through personal leadership and example ensured high standards of good corporate citizenship in the companies which he/she has led
• Contributed to changed perceptions of Africa in global market

Business Leader of the Year

This award goes to a business leader who has shown particular skill in taking their business forward. He or she may be from a large organisation which has required guidance and leadership during a period of expansion or hardship or an entrepreneur who has managed to turn an idea into a dream, overcoming tough hurdles on the way.

Criteria:

• Developing new markets, especially where these meet the needs of ordinary citizens and poorer consumers at the bottom of the pyramid
• Addressing new challenges and opportunities in market conditions
• Through personal leadership and example ensuring high standards of good corporate citizenship in the companies which he/she has led
• Contributing to changed perceptions of Africa in global markets

Recognition of Leading Contribution From Businesswoman

Criteria:

This award will go to the businesswoman of the year. She would have shown initiative, excellent leadership and a proven track record of achievements in terms of growth and returns and contributed to a changed perception of women in the workplace.

• Developing new markets, especially where these meet the needs of ordinary citizens and poorer consumers at the base of the pyramid
• Addressing new challenges and opportunities in market conditions
• Through excellent personal leadership and example ensuring high standards of good corporate citizenship in the companies which he/she has led
• Contributing to changed perceptions of Africa in global markets

African Business of the Year

The African Business of the year will have shown outstanding returns and growth rates coupled with innovative working techniques, and the development of staff and the community it operates in.

Criteria:

• Financial performance (Growth rate, profits & revenue, market capitalization)
• Developing new market segments, especially where these meet the needs of ordinary citizens and poorer consumers at the base of the pyramid
• Economic empowerment through promoting local content and capacity building
• Contributing to changed perceptions of Africa in global markets
• Through excellent personal leadership and example ensuring high standards of good corporate citizenship in the companies which he/she has led

Best Global Business in Africa

This award will go to an international organisation (i.e. a business with substantial revenues outside of the continent) that has contributed significantly to business growth and development in Africa. This would be reflected through its own operations in Africa and/ or through its trade and partnerships with local subsidiaries in Africa.

Criteria:

• Developing new markets throughout Africa through substantial investment
• Introducing global standards of best practices and good ethics
• Contributing to changed perceptions of Africa in global markets

Best SME

The same criteria applies as for Best Business, but applicable to companies with fewer than 200 employees.

Criteria:

• Growth as shown by profits and revenues in relation size and reach in terms of market
• Developing new market segments, especially where these meet the needs of ordinary citizens and poorer consumers at the base of the pyramid
• Economic empowerment through promoting local content and capacity building
• Ability to overcome obstacles in terms of access to finance, markets and capacity building through innovation
• Contributing to changed perceptions of Africa in global markets
• Impact on the local community

Investment

Best efforts towards Improving Investment Climate

This will be awarded to the country which has contributed most in the previous three years to improve an environment conducive for business, investment and trade, facilitating the establishment of new companies. We will be judging the countries using their performances from the standard climate investment indicators:

• World Bank Investment Climate survey
• CBC Investment Climate Surveys

Company focused

Telecoms Company

This award goes to the best business operating in the Telecoms sector. The winner will have shown solid financial results, developed innovative products and services for consumers and generated significant returns on investment for stakeholders. This award will not merely reward market penetration but also innovation and transformation at the grassroots level, namely it will measure the extent to which it has improved citizens’ lives.

Criteria:

• Financial performances (revenues and profits)
• Innovative use of technology to meet customer and social needs
• Numbers in terms of market penetration (customers, countries they operate in, coverage)

Airline of the Year

This award goes to the best business operating in the Airline sector. The winner will have shown solid financial results coupled with distinctive customer service, good punctuality and developed innovative products and services for consumers, especially in opening new routes.

Criteria:

• Financial performances (revenues and profits) Number of passengers, number of flights & destinations served
• Improving inter-African routes
• Punctuality

Brand of the Year

This award will go to an African company who has achieved outstanding brand recognition in the past 12 months, with wide appeal and wider recognition both in Africa and worldwide. This award is applicable to branding and re-branding exercises.

Criteria:

• Significant new market reach
• Strong Brand identity
• Brand recall

Social Awards

Best Corporate Citizenship/Social Responsibility

Now a key focal point with an increasingly issue-aware public, this award recognises programmes which deliver social and economic benefits to local communities, employees, and which influence policy approaches by government and other businesses. This is an award that recognizes an emerging category of leadership.

We will be looking for certain key characteristics:

• Replicability
• Sustainability of impact
• Using the skills and core competences of the company

Leader in Contributing to Achieving MDGs

This award will go to a company or an institution who has contributed through business initiatives and growth to helping achieve the MDGs, which include the following:

• Eradicate extreme poverty and hunger
• Achieve universal primary education
• Promote gender equality and empower women
• Reduce child mortality
• Improve maternal health
• Combat HIV – Malaria and other diseases
• Ensure environmental sustainability
• Develop a global partnership for development

We will be looking for certain key characteristics:

• Replicability
• Sustainability of impact
• Using the skills and core competences of the company

Leader in Social innovation

The award will go to the individual / organisation which is making lasting change to the community through business initiatives. The winner should have created innovative solutions to reach out to the wider community who may not have been able to access basic services. We will measure their ability to transform the social environment and integrate policies that seek to foster and ensure:

• Civic Engagement
• Economic Development
• Learning / Education
• Environment / Human rights

The organisations nominated for this category will be selected from Ashoka’s network, the highly regarded global association of the world’s leading social entrepreneurs, given its expertise and its considerable involvement in Africa. Ashoka elects the best performing social enterprises across the African continent in terms of quality and due diligence. They should have developed creative business models that succeed in empowering their communities. The selection will aim to reflect the diversity of the projects undertaken across a number of economic sectors.

We will be looking for certain key characteristics but also the importance of the issues they are addressing.

• Replicability
• Sustainability of impact
• Innovation

Award for Gender Sensitivity

This award will go to the business which has shown the most skill and success in tackling and improving gender inequality and related issues in the workplace. We are looking for measurable and accountable leadership from the board in terms of mobilizing companywide policy to develop and progress the role of women in the company.

We will be looking for certain key characteristics:

• Companywide policy for greater gender equality
• Mobility of women in terms of position in the company

Technological

Leader in Reducing Digital Divide

This will go to a country or a company which has contributed in reducing the digital divide in a continent where the use of technology and all its advances are still being used by a minority. The main criteria will be the ability to bring and facilitate the use of technology to the wider community and to make it accessible in terms of price and coverage.

We will be looking for certain key characteristics:

• Replicability
• Sustainability of impact

Award for Technological Innovation

This award will go to the company which has shown particular sense of skill, daring and initiative to come up with an inspiring model to their peers in terms of the use of know-how and innovation within their business model to achieve a better service and growth in its products.

We will be looking for certain key characteristics:

• Replicability
• Sustainability of impact