(3 minutes)
· JUA Kickstarter Fund, that provides African first generation entrepreneurs capital to kick-start or expand their enterprises, has doubled its corpus to US$2-million (Ksh219.9 million)
· The fund now has become the biggest African capital venture capital floated by private individuals
· Entrepreneurs from across Africa and those who operate in Africa from other countries are eligible to apply for the assistance
JUA Kickstarter Fund, that provides African first generation entrepreneurs capital to kick-start or expand their enterprises, has doubled its corpus to US$2-million (Ksh219.9 million). The fund now has become the biggest African capital venture capital floated by private individuals.
Launched by African industrialist Adam Molai in November last year with US$1-million (Ksh109.9 million), the fund is targeting African entrepreneurs. A further US$1-million has been infused as result of investment from a US-based angel fund and mentorship firm Simba Global Start-ups. This brings the total investment available for mentoring to US $2-million
Entrepreneurs from across Africa and those who operate in Africa from other countries are eligible to apply for the assistance. The
processing of application will take place electronically and funds are expected to be disbursed to successful applicants within 12- weeks of their short-listing.
Simba’s vision in investing in Africa’s future was not only to create jobs and strengthen African economies, but also to enable Africa to become the “financial benchmark for the world in the 21st century”.
Since its launch, JUA has received over 500 applicants from across Africa. They are from Nigeria, Kenya, South Africa and Zimbabwe. Entrepreneurs from Ghana, Tanzania, Benin, Namibia and eSwatini have. Entrepreneurs in need of capital for their ideas or those who are looking to expand their enterprises can apply for the fund
