The African Hidden Champions (AHC) conducted its inaugural regional ceremony of 2023 in Nairobi, Kenya on Wednesday.

AHC, an initiative that promotes dynamic African companies and helps them on their path to global leadership, shared its vision with regional business executives during the event.

The event marked the first official meeting by African Development Bank (AfDB) with AHC, as new co-partner in the initiative with Africa Foresight Group (AFG) and DEG - Deutsche Investitions- und Entwicklungsgesellschaft (The German Development Finance Institution).

AHC, which was founded in 2020, has so far picked more than 20 high-performing Hidden Champions across Africa, in various sectors including services, manufacturing, energy and retail, pharmaceuticals, automobiles and education.

AHC Co-Founder and Africa Foresight Group CEO Yasmin Kumi said the founders shared their pledge to development through performance, innovation and a solid foundation.

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Antje Steiner - Director Regional Office East Africa - KfW DEG. 

He intimated that the initiative found it fit to commence its inaugural 2023 engagements in Nairobi given some of the selected Hidden Champions hail from Kenya.

“With these engagements, our intention is to exchange ideas and network with key stakeholders as we explore ways in which we can contribute to the growth of African businesses,” said Kumi.

He added, “We believe that by creating an atmosphere where different business leaders meet, we will be able to create lasting solutions and partnerships.”

The initiative aims to raise awareness, through various media, case studies, regional events and its annual summit, of the unique role AHC companies have played in their home markets and how they are building the muscle for success across Africa and beyond.

DEG Industries & Services Africa & EMECA Director Franziska Hollmann said the institution will back sustainable growth of African businesses as they expand into the global market.

“We are aware of the direct link between successful home-grown companies and the rise of a country’s GDP,” said Hollmann.

He added, “We therefore provide these companies with financing and advice for a sustainably successful development.”

Cellulant Group CEO Akshay Grover.  

On his part, AfDB Chief Investment Officer Thomas Viot affirmed the bank’s pledge of funds and technical expertise to African firms and governments to fast track Africa’s development.

“Our experience lends to this worthwhile AHC initiative the opportunity to expand to more markets,” he stated.

The AHC initiative is planning to conduct receptions in other key African cities as it continues selecting and sharing new Hidden Champions.