Kenyan entrepreneurs to benefit from USD 5,000 seed capital

Kenyan entrepreneurs set to benefit from grants, mentorship and global network. [Standard, File]

Kenyan entrepreneurs can now apply for up to USD 5,000 in seed capital, along with business training and mentorship, through a new initiative aimed at promoting innovation and sustainability in the country.

The Tony Elumelu Foundation (TEF), in collaboration with UBA Kenya Bank, has launched the 2025 entrepreneurship initiative to support early-stage businesses and green ventures.

The three programmes, open until March 1 2025, focus on technology-driven solutions and sustainable practices, with an emphasis on artificial intelligence and environmental sustainability.

One programme targets all Kenyan entrepreneurs with innovative business ideas or startups less than five years old, while another specifically supports women-led green businesses.

The third programme is aimed at youth aged 18 to 35 who are working in green and waste management businesses.

Since its inception in 2010, TEF has played a key role in driving entrepreneurship across Africa.

To date, 782 Kenyan entrepreneurs have benefitted from the foundation's support, which has reached over 20,000 entrepreneurs in 54 African countries.

"Entrepreneurship is the key to unlocking Africa and Kenya's economic potential. Through this partnership with the TEF, we aim to equip Kenyan entrepreneurs with the resources they need to grow their businesses and transform their communities," said Mary Mulili, Managing Director and CEO of UBA Kenya.

At the same time, participants will gain access to business management training, mentorship, and a global network of like-minded entrepreneurs to help them scale their ventures.

The initiative aims not only to provide financial backing but also to equip entrepreneurs with the tools necessary to succeed in a competitive market.