Jack Ma to launch Africa Netrepreneur Prize

07 Aug 2018
Financial Nigeria

Summary

The Africa Netpreneur Prize initiative will seek to create a community of about 100 young African entrepreneurs who will receive a total of $10 million grants by 2030.

Jack Ma, Co-founder and Executive Chairman, Alibaba Group

Jack Ma, Co-founder and Executive Chairman of Alibaba Group, is set to launch the Africa Netrepreneur Prize to support exemplary young internet leaders. The initiative will be launched on Wednesday in South Africa at an event organised by the United Nations Conference on Trade and Development (UNCTAD), the Alibaba Business School and the Jack Ma Foundation.

The theme of the conference, according to a statement released on Monday, is Netpreneurs: The Rise of Africa’s Digital Lions. The conference aims to discuss the challenges and opportunities facing a new digital Africa and the role of the public sector, investors, entrepreneurs and educational organisations in the transformation process.

"Across Africa, eCommerce platforms flanked by payments, logistics, tourism and big data partners are starting to lift national economies," said UNCTAD.

The Africa Netpreneur Prize initiative will seek to create a community of about 100 young African entrepreneurs who will receive a total of $10 million grants by 2030. More information about the Netrepreneur Prize and how African entrepreneurs can apply for it will be announced at the conference.

Jack Ma, who will be visiting South Africa for the first time, began the creation of the e-commerce giant in Hangzhou, China, in 1999. Today, the Alibaba Group operates wholesale and retail online marketplaces as well as businesses in payments, cloud computing, as well as digital media and entertainment.

The company, which went public in 2014, is considered one of the most valuable companies in the world with market capitalisation of $471.22 billion as at today.

The Secretary-General of UNCTAD, Mukhisa Kituyi, will give a keynote address on Africa’s digital transformation. Also, three entrepreneurs, who were part of the joint UNCTAD-Alibaba’s “eFounder Fellowship Programme” earlier this year will give five-minute talks on entrepreneurship in Africa.

The conference will also focus on the following topics: The Creators of a New Economy: Constructing Digital Businesses; Governments and Policymakers: Nurturing Innovation in the Digital Economy; Access to Capital: Fueling Transformation Through Investment; Digital Talents: Enabling youth to Power the New Economy; and Ways forward for a Digital Africa.

During the conference, Ma will also present a keynote on his vision for entrepreneurship for Africa.


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