TOTAL Launch Program To Finance Startups In 34 African Countries

TOTAL Launch Program To Finance Startups In 34 African Countries

From New Business Ethiopia

TOTAL, the French multibillion oil company, today launched a new project that aims to finance and support African startup businesses technically in 34 countries of the region.

Launching the project in Ethiopia, , 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,” said Mr. Lassina Toure, Managing Director of TOTAL Ethiopia Share Company, speaking this morning at the launching of the project.

As of November 1st to end of January 2015, Ethiopians who have innovative and original business ideas can summit their plan to TOATL’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 will also be awarded Ethiopian birr 200,000 and 150,000, respectively.

“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,” TOTAL’s brand Ambassador and Olympic Gold Medalist athlete Haile Gebrselassie, at the ceremony held at the Harmony Hotel in Addis Ababa.

TOTAL’s challenge labeled as ‘Stratupper of the year’ is part of the company’s global initiative of supporting the socioeconomic development of all the countries where it operates worldwide, according to Mr. Toure, who stated that his company is planning to do the same programs every two year.

TOTAL believes that the challenge is a very concrete action to locally contribute to the reinforcement of the industrial fabric and to employment on the African continent by supporting the most daring and innovative entrepreneurs in realizing their projects.

TOTAL currently operates in 150 countries across the globe creating jobs to close to 100,000 employees of which 10,000 are in Africa, according to the company officials.

Read more at New Business Ethiopia