In a case of putting his money where his mouth is, the Chairman of Heirs Holdings and founder of the Tony Elumelu Foundation, Mr. Tony Elumelu, has launched a 100 Million Dollar program to support and promote entrepreneurship across Africa.
The initiative is to encourage about 10,000 budding African entrepreneurs to develop their ideas into sustainable businesses.
According to him, it will help tap into the talent of Africa's young people. The program will specifically provide 1,000 entrepreneurs a year with 5,000 Dollars seed capital and additional returnable capital of an extra 5,000 Dollars.
This returnable capital is to encourage the sense of responsibility and accountability.
The application process will begin in January 2015 with the announcement of the first 1,000 participants expected by the end of March. In order to be eligible for the initial 5,000 Dollar seed capital, successful applicants will have to go through a 12-week online mentoring and training program.
This business skills training program will give them tools they need to go out and physically implement the lessons they learn.
Its important to note that the online program will draw on content specifically designed to address the challenges African businesses will face and at the end of 12 weeks, they will attend a 3 day event to sow the seed for intra-Africa trade, for pan-Africa trade.
If you are interested in this, you better be on the look out as I think it is a great opportunity. I just might take it up myself.....*putsonthinkingcap*
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