The winner will work with teams across BBC News in London for three months.
Last year’s winner, Nancy Kacungira, said: “I felt supported as a journalist from the continent, to tell the story I wanted to tell in the way that I felt it should be told.”
Applications close on 23 March 2016 at 23:59 GMT.
The award was established to honour Komla Dumor, a presenter for BBC World News, who died suddenly aged 41 in 2014.
Ms Kacungira, a television anchor for Kenya’s KTN television channel, was selected from nearly 200 applicants.
“It felt really good to be able to tell a story from Africa on such a big platform – my stories were seen and heard on BBC TV, radio and online,” she said of her experience.
“My own values on reporting about the continent – nuance, balance, and authenticity – were a good match for the BBC’s commitment to getting the story right from wherever they report from in the world.”
The BBC’s World Service Group and deputy director of News and Current Affairs Fran Unsworth said: “Komla was a much-loved and respected journalist – not only with his colleagues but also with aspiring journalists and audiences across the world.
“His storytelling was compelling and his enthusiasm was infectious, making him one of Africa’s leading journalists.
“At the BBC, we are committed to continuing Komla’s dedication to this continent by launching this award for the second year running. We are searching for a rising star who displays exceptional talent, someone who embodies the spirit of Komla.”
Komla Dumor was an exceptional Ghanaian broadcaster who in his short life made an extraordinary impact – in Ghana, in Africa and around the world.
He represented a confident, savvy and entrepreneurial side of Africa.
Through his tenacious journalism and compelling storytelling, Komla worked tirelessly to bring a more nuanced African narrative to the world.
The BBC is committed to continuing Komla’s legacy.