Dar es Salaam. United Bank for Africa (UBA) has urged entrepreneurs to seize the opportunity of the Tony Elumelu Entrepreneurship Programme for Africa (TEEP) to get funds for startups.
TEEP, which is founded by the UBA chairman Tony Elumelu, has set aside $100 million for businesses. $10 million is offered as seed capital each year to 1,000 entrepreneurs for a period of 10 years from 2015.
So far 3,000 individuals, including 66 Tanzanians, have benefited from it.
One of the beneficiaries, Mr Reuben Mbwiga, urged entrepreneurs to take that opportunity to invest and realise their entrepreneurial dreams.
“This foundation is for Africans; so take that chance to grow. “ He expects more Tanzanians than in previous years will submit their good business proposals and if they win they will get funds.
“We expect at least 100 Tanzanians will be able to enroll to the programme this year to increase opportunities for many youth who have no start-up capital to get funds for their projects.”
UBA marketing head Beatrice Bureta urged entrepreneurs with good business ideas to submit their proposals and they are accepted they will receive grants, training and be connected with people around Africa.
“Entrepreneurship is not just about who you do business with but who you connect with along the way when doing that business,” she said.