(CNN) A Nigerian entrepreneur has taken home the top prize at the Jack Ma Foundation's first annual prize for African businesses.

Temie Giwa-Tubosun walked away with the top $250,000 cash prize from the $1 million available from the Africa Netpreneur Prize Initiative (ANPI) , started by Chinese investor Jack Ma.

The organization says it will award a $1m grant to 10 African entrepreneurs every year for the next 10 years.

It's a beautiful moment for @temite of @lifebanknigeria, who takes home the top #ANPI2019 Africa Business Hero Award! 🔥 You showed up and made Africa proud. pic.twitter.com/mDngVRejhE — Africa Netpreneur Prize Initiative (@AFNetpreneurs) November 16, 2019

Giwa-Tubosun is the founder and CEO of LifeBank , a Lagos-based blood and oxygen delivery company that connects registered blood banks to hospitals and patients in need of urgent blood supplies.

She said: "The Africa Netpreneur Prize will give me the resources to grow LifeBank and expand our presence in Nigeria and throughout the rest of Africa. I look forward to continuing my journey to solve problems and make a significant impact on the future of Africa."