Nomination for ‘EY Entrepreneur of the Year’ opens
Nomination for Ernst &Young (EY)’s Entrepreneur of the Year award for West Africa has begun. EY Entrepreneur of the Year is an annual award that celebrates entrepreneurs who have remarkably distinguished themselves in their various fields of business.
The application is open in EY’s website for Master and Emerging categories. The Master Category is open to individuals whose achievements have made them world-class entrepreneurs and are running organisations with revenues of $75 million and upwards.
On the other hand, the Emerging Category is targeted at entrepreneurs building young businesses with high potential and minimum revenue of $5 million. Nominations for both categories close on August 31, 2015.
The winner of the Master Category represents West Africa at the global competition that will take place in Monte Carlo, Monaco.
Announcing the call for nomination in Lagos, Henry Egbiki, regional managing partner, EY, said the programme celebrates entrepreneurs because they are the ones that fix most of the economic problems facing the world.
“When you step in, you see the global economy struggling. The future of the Euro zone hangs on the balance. In Nigeria, GDP has been scaled down. The housing deficit alone has reached 20 million and we are told we should be building two million houses every year. And you ask, who will help deal with these problems? It is the entrepreneur,” Egbiki said, during the event that also commemorated the award’s five years anniversary in West Africa.
“The entrepreneurs are the ones that make investments to build infrastructure and create jobs. This is why we celebrate them. They see opportunities in challenges, have the ‘can do’ attitude and inspire the young generation,” he said.
He emphasises that EY cannot do it alone but requires the support of the public and private sectors, adding that the global multinational services firm believes that business is not just about profitability but shared value.
EY is a global multinational professional services firm. It started the award programme in 1986 and have extended it to over 60 countries, with more than 145 Entrepreneur of the Year programmes. It began in West Africa in 2011, with nominations for Nigeria and Ghana.
Bunmi Akinde, Entrepreneur of the Year Leader for West Africa, said there have been 40 finalists from about 500 nominations in the last five years.
According to Akinde, the awards aim to recognise the exceptional innovations and achievements of West African entrepreneurs and their efforts in creating jobs and contributing to the growth of the country’s economy, adding that selection is made by judges independent of EY. She said application can be made via http://echannelprpvw.iweb.ey.com/NG/en/Home/EY-Entrepreneur-of-the-Year.
Akinde said the award elevates a company’s brand awareness through connections and exposure to entrepreneurs, sponsors, judges and guests, many of whom have been seeking customer alliances, mergers, acquisitions and other growth opportunities.
Femi Akintunde, MD/CEO, Alpha Mead Facilities &Management Services Limited, who is also the current Emerging Category winner, said he would encourage anybody who has a compelling story to apply.
“The focus of business should be about creating value that the society needs. Secondly, you must understand that people are the key components of your business. Thirdly, you must have an enduring process and lastly is the financials,” Akintunde explained, adding that finance should be the last factor on the mind of any budding entrepreneur.
He further said entrepreneurs should focus more on creating value rather than benefits, stressing that the processes judges use in selection will only make any participating entrepreneur better.
ODINAKA ANUDU