Jack Ma encourages Africa's young entrepreneurs with cash prize

ACCRA - Jack Ma, founder of China's Internet giant Alibaba, says his foundation has dedicated a support package to young entrepreneurs across the African continent.

The Jack Ma Foundation gave a total cash prize of one million dollars to support the enterprises of 10 young African entrepreneurs during the maiden Netpreneurs' awards ceremony here late Saturday.

"If Africa wants sustainable growth, the most important thing is that you should create innovative ways. We need entrepreneurs to join forces together to develop Africa," he said.

"Let us start to help and inspire; let us start to support the start-up and entrepreneurial spirit, because if society respects entrepreneurship, that society will make progress," Ma added.

In his keynote speech, Ghanaian President Addo Dankwa Akufo-Addo noted that successful economies depended on entrepreneurs running successful businesses.

"It is time to take entrepreneurship seriously. We need to push vigorously in Africa the culture of entrepreneurship," Akufo-Addo urged.

The Netpreneur Prize initiative was launched in 2018 with a view to supporting exemplary African business leaders.

The initiative will provide $10 million to 100 African entrepreneurs over a ten-year period, and encourage grassroots innovation, economic empowerment of women and small business.