Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
ll of the awardees are 2019 Mandela Washington Fellows under the U.S. Government's Young African Leaders Initiative (YALI)/CFM

Kenya

USAID, USADF and CITI Foundation team up to invest in Young African Social Entrepreneurs

ll of the awardees are 2019 Mandela Washington Fellows under the U.S. Government’s Young African Leaders Initiative (YALI)/CFM

NAIROBI, Kenya, Jan 23 – The U.S. Agency for International Development (USAID) and The U.S. African Development Foundation (USADF) have announced plans to award a total of $400,000 – Sh40.3 million in grant funding, with support from Citi Foundation, to 42 young African social entrepreneurs who are developing businesses to drive social and community change in 22 sub-Saharan African countries.

All of the awardees are 2019 Mandela Washington Fellows under the U.S. Government’s Young African Leaders Initiative (YALI).

By pairing seed capital with technical assistance, USAID, USADF, and Citi Foundation provide young entrepreneurs with the tools needed to invest in their own communities. 

Each winner of the competition will receive at least $10,000 in seed capital to support the growth of his or her company – in sectors that range from agribusiness and health care to renewable energy and education.  
 
The goal of the public-private partnership is to increase the commercial know-how and access to seed capital of Africa’s next generation of business leaders and social entrepreneurs. 

The investments will allow the young businesspeople to create jobs, train other youth, improve their communities, and create or expand markets by providing goods and services. 
 
USADF is proud to work with Citi Foundation for the fourth year, and gains a new partner in USAID.  USADF’s goal is to catalyze young African ingenuity through entrepreneurship and support entrepreneurs to expand their social enterprises. 

Since 2014, USADF has awarded over $5 million to more than 250 young leaders in over 30 countries. 
 

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...