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USADF, Citi Foundation provide seed capital for youth-led enterprise in Africa

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Dar es Salaam, Tanzania, December 1 (Infosplusgabon)  -  On the occasion of the Global Entrepreneurship Summit (GES), held in India, the U.S. African Development Foundation (USADF) and the Citi Foundation announced late on Thursday their commitment of over US$1 million dollars in seed capital funding for youth-led enterprises in Africa.

 

“We are proud to partner with the Citi Foundation, who has showed such commitment to creating new job opportunities for young people,” said USADF President and CEO, C.D. Glin. “Our partnership supports young entrepreneurs to grow successful businesses and become agents of positive change in their communities."

 

The eighth annual GES took place from 28-30 Nov. 2017 in Hyderabad, India, highlighting the theme ‘Women First, Prosperity for All’, and focused on supporting women entrepreneurs and fostering economic growth globally.

 

GES is the preeminent annual entrepreneurship gathering that convenes emerging entrepreneurs, investors and supporters from around the world, said the U.S. African Development Foundation in a statement made available to Infosplusgabon in Dar es Salaam on Friday.

 

It explained that through two-and-a-half days of networking, mentoring, and workshops, GES empowered entrepreneurs to pitch their ideas, build partnerships, secure funding, innovate, and find their target customers -- creating new goods and services that will transform societies.

 

"In February 2017, the Citi Foundation announced the expansion of our philanthropic commitment, Pathways to Progress, which works to empower urban young people,” said Karim Seifeddine, Citi’s Public Affairs and Government Relations Head, Middle East and Africa. “To support these efforts, the Citi Foundation is excited to continue this partnership with USADF to help young Africans move closer towards their career goals and sustainable futures.”

 

Together, USADF and the Citi Foundation – through their Pathways to Progress initiative – are funding and mentoring Africa’s next generation of business leaders to help solve some of the continent’s biggest and longest-standing problems. To date, USADF has invested nearly US$4 million in 180 youth-led social enterprises in over 30 countries.

 

 

FIN/INFOSPLUSGABON/BVC/GABON 2017

 

 

 

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