Entreprenarium organization which recently launched the program dubbed "Men-Invest-In-Women" is set to collaborate with potential African business magnates to raise USD 25 million that will be invested in activities that enhance the progress of African women.
Under the initiative which started on Women Day on 8th March 2017, it is expected that 50 rich women on African continent will expand the program to more 500 to increase the capacity of African women.
Entreprenarium organization was founded by a female Rwandan, Kristine Ngiriye operating in Rwanda, Senegal and Gabon. Her project executes various activities including offering trainings to women entrepreneurs and providing investment to start ups.
The statement released by Entreprenarium reads that the program of MenInvestInWomen was initiated by 50 potential businessmen from Rwanda, Senegal, Mali, Ivory Coast, Gabon, Cameroun, Nigeria, Uganda, Kenya and South Africa to focus on two main activities including education and job creation.
“These business people committed on one side to support educated girls but who didn’t get chance to take their studies higher to becoming good leaders playing their role in this continent’s transformations. On the other hand, they want to promote trade implicating women activities and contribution to the development of the continent,” reads the statement.
70% of the fund is expected to support entrepreneurs’ projects and provide technical assistance in promising projects while 30% will be allocated to funding education in higher learning institutions and universities.
Selected projects will come from various categories where 32% will be agriculture sector, 41% being technology, 20% will be service related projects and 7% related to environment.
It has so far trained 1360 women entrepreneurs while over 100 have benefited from its program of providing investment for promising projects dubbed "Women Capital Raising” (WCR).