The initiative has so far disbursed over Sh450million seed funding impacting close to 692 Kenyan entrepreneurs, and aims at strengthening Kenya’s path towards sustainable, climate-resilient development while achieving low carbon climate resilient development
By Silas Apollo
Financial partner of the Tony Elumelu Foundation, United Bank for Africa (UBA) Kenya has launched a call for applications for the #BeGreenAfrica Initiative, an entrepreneurship programme that seeks to address Africa’s youth unemployment.
According to UBA Kenya CEO and MD Chike Isiuwe, the programme targets entrepreneurs under the age of 35 years, with new or existing “green businesses” in Kenya, with the deadline for applications set for September 30, 2023.
“The programme targets about 1,000 entrepreneurs, and will train successful candidates on ways to run micro, small and medium enterprises in the waste management sector. About 120 trainees in the programme will also receive a seed funding capital of $5,000 (equivalent to Sh730,000),” Isiuwe said.
Since inception of the Tony Elumelu Foundation funding programme in Kenya in 2015, the Foundation, which is a non-governmental organization whose aim is to create prosperity through supporting and creating African entrepreneurs and has so far disbursed over Sh450million seed funding impacting close to 692 Kenyan entrepreneurs. It was founded by African investor, philanthropist and Chairman of United Bank of Africa PLC, Tony E. Elumelu.
“We are committed to supporting the growth and development of SMEs across Africa. This is in line with our bank’s strategic focus on the SME segment being a catalyst to economic development of Africa,” he said.
Upon successful qualification to the Tony Elumelu Entrepreneurship Programme, an entrepreneur is set to benefit from programmes such as mentoring, a 12-week business management training course, knowledge resources, meetups and networking, annual TEF Entrepreneurship Forum and, a seed capital funding of $5,000. They will also belong to the TEF Entrepreneurship Programme Alumni Network in Kenya.
The lender said that “BeGreen Africa” is an entrepreneurship pilot programme co-created by The Tony Elumelu Foundation in partnership with UNICEF Generation Unlimited (GenU) in an effort to strengthen Kenya’s path towards sustainable, climate-resilient development while achieving low carbon climate resilient development.
Other partners also include IKEA Foundation. The initiative seeks to create a holistic, sustainable, and youth-led green entrepreneurship initiative in the waste sector in Kenya.
“This is in line with the Sustainable Waste Management Act which is responsible for instituting the legal and institutional framework to sustainably and effectively manage waste in Kenya,” said UBA.
