Four organizations in Africa appointed as Jack Ma's African entrepreneurs funding program partners

Alibaba founder Jack Ma's newly-launched African entrepreneurs funding program has partnered up with four African organizations, with their service covering 54 African countries, the Jack Ma Foundation said Monday.

Jack Ma or Ma Yun, chairman of Chinese e-commerce giant Alibaba Group, gives a lecture to African young entrepreneurs at the headquarters of Alibaba in Hangzhou city. [File Photo: IC]

The fund, named Africa Netpreneur Prize Initiative (ANPI), has appointed Nailab from Kenya, NINE from Nigeria, RiseUp from Egypt and 22 On Sloane from South Africa as its regional partners.

The four organizations will work together to promote the prize program in 54 African countries.

The ANPI was launched on Feb. 18, aiming to provide 10 million U.S. dollars to outstanding African entrepreneurs in the coming decade.

Ten African entrepreneurs will be awarded each year, with the total funding of one million dollars.

The first contest will be open for enrollment to all Africans on March 27, and the final contest is expected to be held in Africa in November.