Tycoon Jack Ma to give Sh1b to African businesses

President Kenyatta Uhuru Kenyatta meets with Jack Ma, the Founder and Executive Chairman of Alibaba Group, at State House Nairobi.

African businesses stand to benefit from a Sh1 billion funding from the Alibaba Group founder and executive chairman, Jack Ma.

The ‘Netpreneur’ Prize is the second initiative by the Chinese billionaire’s foundation to support 100 African entrepreneurs who are working to address the continent’s most important challenges and furthering its digital economy through local entrepreneurship.

The foundation will, beginning next year, host an annual pitch competition.