Around 1,000 Kenyan enterprises specializing in waste management are set to prosper from a novel training and funding model. Specifically targeting young entrepreneurs below the age of 35, this initiative will cater to those with emerging or established green businesses.
Chike Isiuwe, the Managing Director of United Bank for Africa, elucidated that this programme’s core intention is to establish a comprehensive, sustainable, and youth-driven entrepreneurship movement in Kenya’s waste management domain. “We have an aim to reach approximately 1,000 entrepreneurs. Those who qualify will be imparted training on effective operations of micro to medium waste management enterprises. Of these, 120 will be granted a seed capital of $5,000 (around Sh730,000),” Isiuwe explained.
To date, the initiative has already granted seed funding amounting to over Sh450 million to 692 Kenyan green entrepreneurs. This move is geared towards bolstering Kenya’s trajectory towards sustainable and climate-adaptive growth.
The Tony Elumelu Foundation, responsible for overseeing the project, has announced September 30, 2023, as the final date for application submissions.
Isiuwe reiterated the bank’s dedication towards nurturing SME growth across Africa, emphasizing its strategic vision. “Our primary goal aligns with fostering SMEs, which we believe is a driving force for Africa’s economic progression.”
Those who successfully qualify for the programme can anticipate a suite of benefits. This includes mentorship opportunities, an intensive 12-week business management course, access to a repository of knowledge resources, networking events, participation in the annual TEF Entrepreneurship Forum, and the aforementioned seed capital of $5,000.
About the BeGreen Africa Initiative
The BeGreen Africa stands out as an experimental entrepreneurship programme, the brainchild of The Tony Elumelu Foundation, conceived in alliance with UNICEF’s Generation Unlimited (GenU). This collaboration seeks to enhance Kenya’s march towards an eco-friendly and climate-resistant developmental model, concentrating on low carbon footprints and resilient strategies.