Jack Ma, Executive Chairman and founder of Alibaba is going to create African Young Entrepreneurs Fund worth $10 million.
At Youth Connekt Africa Summit in Rawanda, Ma firmly claimed that he needs approval from nobody to invest his own money. He is eyeing on encouraging online business across Africa.
Ma spent a couple of days in Africa and he visited Kenya and Rwanda as Special Adviser for Youth Entrepreneurship and Small Business, at a conference UNCTAD (UN Conference on Trade and Development).
Alibaba Chairman shared his understanding based on his journey right from 1999 till now, leading the business to become a giant worth $231 billion.
Ma works with UNCTAD in an attempt to seek new horizons in Africa’s business and to improve global trade by spreading the awareness of 2030 UN Sustainable Development agenda.
The Government of Rwanda and UNCTAD hosted the Youth Connekt Summit that featured more than 1,500 participants from different sectors, businesses and government officials. UNCTAD has a priority to open the gates of e-commerce in Africa by helping online trade.
Ma showed his commitment to taking 200 rising entrepreneurs from Africa to China to help them learn the online business and trends. Ma remarked that these entrepreneurs know their goals and once they are aware of their goals, it is easy to make them learn how they the goals.
Ma is also looking to join hands with African universities to make the students learn the latest technology and e-commerce in a better way. Ma anticipates that Big Data is going to be the future of the Internet and no one can stop it even if you don’t like it.
Ma has already contributed $1.65 million to the Paradise International Foundation, a Chinese non-profit organization.