Jack Ma launches $10 million fund to support young African entrepreneurs

Jack Ma, the Founder and Executive Chairman of Chinese Internet giant, Alibaba, has announced the creation of a $10 million fund to support young African entrepreneurs.

Jack Ma, who was on his first visit to Africa mid July, attended the last Youth Connekt Africa Summit that took place in Kigali from July 19th to 21st 2017. During the Summit, he announced his project of supporting young African entrepreneurs

“Ma said he would work with UNCTAD to help bring 200 budding African entrepreneurs to China for a hands-on learning experience at Alibaba. The Chinese billionaire said he is poised to hire staff for the Fund, with operations set to begin this year. He also said he planned to build a partnership with African universities to teach internet technology, artificial intelligence and e-commerce”.

“The Youth Connekt Africa Summit, held in Kigali, brought together more than 1,500 participants from government, entrepreneurial and investor communities, multinationals, and startups shaping the African technological ecosystem”.

“UNCTAD is working with Ma to explore opportunities with African businesses to participate in global trade, as well as to raise awareness of the 2030 Agenda for Sustainable Development, which was adopted by the international community in 2015”.

Source: Financial Nigeria
Photo credit: Rwanda Eye

Author: Gova-Media