Total invests in African entrepreneurs

French multibillion-dollar oil company Total has launched a project aiming to finance and support African start-ups in 34 countries on the continent.

Launching the project in Ethiopia, Lassina Toure, Managing Director of Total Ethiopia Share Company said: “This project is part of the project we are launching in 34 African countries with the aim of encouraging competitive and potential businesses by African youth that create jobs.”

Ethiopians who have innovative business ideas can summit their plan to Total's start uppers challenge. The first three best business ideas or ongoing businesses for the past two years, will be awarded 350,000 Ethiopian birr and also get coaching along with the top ten best.

The second and third runners up will also be awarded Ethiopian birr 200,000 and 150,000, respectively.

Total’s brand Ambassador and Olympic Gold Medalist athlete Haile Gebrselassie said: “It is a very good opportunity for Africans who are mostly totally reliant (neo-colonized) on the products and innovations from the rest of the world.”

The challenge, or ‘Stratupper of the year’ is part of the company’s global initiative to support the socioeconomic development of all the countries where it operates.

Total operates in 150 countries across the globe creating jobs to close to 100,000 employees of which 10,000 are in Africa.

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SOURCE: [AFK Insider]