Founder and CEO of Alibaba, Jack Ma, has launched a $10 million program targeting young entrepreneurs across Africa seeking funding for their tech startups.
Jack Ma made the announcement during the Youth Connekt Africa Summit held in Rwanda last week. The summit was co-hosted by UNCTAD and the Rwandese Government.
“I want that fund supporting African online businesses. The money is set. This is my money, so I don’t have to get anybody’s approval. I want them to go China, meeting our people, seeing all the things we have been doing, all the great ideas China has. They know what they want. And when they know what they want, we can support it,” said Ma.
Ma wants to take the top 200 entrepreneurs from Africa to China, where they can learn first-hand about Alibaba’s journey. Ma is also looking to partner with universities across the continent to curate teaching materials on internet technology, e-commerce, and artificial intelligence. All the tools a young person needs to be armed with before embarking on creating a startup business online.
Ma, who was on his first trip to Africa, is the Special Adviser …read more