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The Second Cycle Of The TEEP $5k Fund Will Begin On The 1st Of January 2016

African entrepreneur? Looking for up to $5,000 to jumpstart your new venture? Get your pitch decks ready.

Tony Elumelu took to Facebook to announce that his eponymously named Foundation’s TEEP fund will begin to accept a new set of applications from the 1st of January, 2016.

Through TEEP, the Tony Elumelu Foundation promised to provide investment, training, mentoring and seed capital to this next generation of African entrepreneurs. One year later, I am proud to say that we are meeting our milestones and already recording visible transformations in the businesses of our entrepreneurs.

The first cycle of TEEP investment saw a total of $4.8 million dollars disbursed to 972 entrepreneurs across the continent. The fund has committed to investing a total of $100 million over ten years.

So did you save the date yet? More information is available here.

British Airways, Safaricom Launch Emerging Enterprise Initiative For Kenyan SMEs

British Airways, the UK’s largest international airline and Safaricom, a leading mobile network operator in Kenya have announced the Emerging Enterprise Initiative aimed at providing international exposure for business owners in Kenya’s Small and Medium Enterprise (SME) sector.

Through the initiative, five business owners in the SME sector will be provided with access to international markets or a chance to source their supplies from source markets at the most affordable and competitive rates.

To receive the aforementioned benefits, SMEs will be required to submit a business proposal complete with details of how their businesses will benefit from a trip to any of the 114 destinations around the world where British Airways plies.

The applications will be judged and the best five will be selected, providing them with the opportunity of fulfilling their aspirations of traveling to the business destination of their choice.

“The small business is the driver of the Kenyan economy; this initiative will empower our SMEs to get to the next level by affording them much needed exposure and ability to communicate through affordable voice and data services,” Safaricom’s Director of Enterprise Business, Rita Okuthe said in a press release.

She added, “Technology has made the world a small global market and it is necessary for service providers to form strategic partnership to ensure customers transact business in the most timely and cost effective way.”
In addition to the traveling, each of the five selected SMEs will get Kshs.100,000 worth of airtime from Safaricom to help meet their communication needs.”

To be eligible for the travel prize and the airtime, SMEs must have signed up British Airways On Business programme and be registered customers of Safaricom’s Zidisha Biashara service.

Interested SMEs should submit their business proposal on or before January 16, 2016.