Sh10 billion competition kitty targets African entrepreneurs

NAIROBI: Budding entrepreneurs from Kenya and other African countries have been invited to apply for the second annual Tony Elumelu Entrepreneurship Programme (TEEP) for start-up businesses based in Africa.

The programme will see them battle out for a Sh10 billion prize. Kenyans will be looking to replicate last year's performance which saw them get the second largest number of finalists after Nigeria in a competition that attracted over 20,000 African entrepreneurs from 52 African countries. Each of the 164 Kenyan finalists received a prize of $5,000 (approximately Sh511, 000) as non-returnable seed capital. They also underwent a 12-week training on how to set up and manage businesses.