Adam Molai a renowned African industrialist has just launched a US$1 million fund to support entrepreneurs on the African continent with capital to kickstart or expand their startup businesses.
The project is called the Jua Kickstarter Fund, and it would be providing successful applicants with funds to launch or grow their businesses, as well as mentoring and guidance.
Molai, is a serial entrepreneur himself and he has successfully started a number of businesses across Africa. One of such businesses is TRT Investments which as at the year end 2019, had US$125 million of assets under management. Adam Molai says that it was his desire to inspire the continent’s entrepreneurial generation that made him create and launch the fund.
“Without entrepreneurs, economies cannot grow and countries cannot advance. But African entrepreneurs unfortunately do not get the support they need to thrive for a myriad of reasons. Yet Africa is full of enterprising people,” he said.
“Wherever there is adversity, there is opportunity. Africa is rife with adversity, wherever you turn business prospects are in abundance. Entrepreneurs provide solutions to societal challenges, whilst creating space for the advancement of their communities. I feel that Africa is so much more open and it is full of so much more opportunity than you would find elsewhere. I want to do everything in my power to ensure that this potential is cultivated and unleashed.”
The entire application process is electronic and funds are expected to be disbursed to successful applicants within 12 weeks of their shortlisting.
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