Alibaba’s Jack Ma launches $10-million fund for Africa’s entrepreneurs

10/4/2018 9:12:15 AM

China’s ecommerce tycoon Jack Ma is pouring $10 million into a fund that is to boost the entrepreneurial spirit among young Africans. Ma’s idea to grow jobs in Africa: encouraging young people to be entrepreneurs. Meanwhile, governments wanting to kickstart small business should give start-ups a tax break.

The Jack Ma Foundation ‘Netpreneur’ Prize is a fund that to support 100 young African entrepreneurs over the next decade. At a conference in South Africa, Jack Ma said that every country should encourage young people and offer “good tax conditions to the startups. Big companies don’t need that. We start-ups need that” he said, according to a report by Forbes.

Ma also said that small businesses create jobs. “Dreams drive the economy,” he added. “Let’s make Africa a digital Africa.”

Further reading on forbes.com

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