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Alibaba Dishes $10 million To Fund African Entrepreneurs

Business

Alibaba Dishes $10 million To Fund African Entrepreneurs

China’s Alibaba Group Holding Ltd founder and Chairman Jack Ma has said he is determined to catalyse Africa into motion.

Ma said, “will do anything to share technology” with Africa and has set aside $10 million for a fund for African entrepreneurs.

In his observation recently while in South Africa, Ma noted; “The opportunity in e-commerce in Africa lies in the fact that Africa is lacking logistics, infrastructure and payment systems.”

The Chinese biggest online emporium said his next visit to the continent will be to Nigeria, Africa’s most-populous nation.

With a current market capitalisation of more than $460 billion, Alibaba is one of the world’s most-valuable companies.

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