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The awards celebrate young people between the ages of 18 and 31, who have made outstanding achievement in the year under consideration. Forbes has described the awards as “Most important awards for outstanding young Africans”. The awards was conceived by Chude Jideonwo and Adebola Williams in 2004. The first The Future Awards ceremony was held on February 6, 2006, at the Muson Centre in Lagos to honour the outstanding achievements of the 2005/2006 season.

The Future Awards Africa, also popularly known as The Future Awards, are a set of awards given by The Future Project (TFP), a social enterprise set up with a strong, practical commitment to human and capital development, especially in Africa. The Future Project is the largest home-grown network of policy-makers, business people, and other stakeholders in Young Africa.