Thursday, July 27, 2017

Alibaba founder launches $10M African Young Entrepreneurs fund.

Jack Ma founder of Aliba-an online e-commerce site who started the platform in 1999,and fastly grew it to a world-class company,covering over 200 countries.He owns several subsidiary firms:Taobao marketplace,Tmall,eTao,,Alipay,Alibaba cloud Computing,etc.

Outside business,he is also a serial philanthropist who spends his money mainly in alleviating poverty and disaster relief.

This year 2017,he  created a US$10 million  African Young Entrepreneurs Fund.At Youth Connect African Summit in Rwanda he said thus: "I want that fund supporting online business,".He continued,"The money is set,this is my money,so i don't have to get anybody's approval".

Ma further said that the fund will be in operation later this year,and it will work in collaboration with UNCTAD to help 200 African business people come to China to learn from Alibaba.

In addition he said that he is planning to roll out a solid partnership with African universities to teach internet technology,artificial intelligence and E commerce.

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