Alibaba’s Jack Ma eyes Nigerian visit with $10 mln fund for African e-commerce entrepreneurs

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NEW YORK, NY - SEPTEMBER 23: Executive Chairman of the Alibaba Group Jack Ma speaks during the "Valuing What Matters" panal discussion during the third day of the Clinton Global Initiative's 10th Annual Meeting at the Sheraton New York Hotel & Towers on September 23, 2014 in New York City. (Photo by Jemal Countess/Getty Images)

Alibaba Group Holding Ltd., China’s biggest online emporium, “will do anything to share technology” with Africa, founder and Chairman Jack Ma said.

“The opportunity in e-commerce in Africa lies in the fact that Africa is lacking logistics, infrastructure and payment systems,” Ma said at a conference in Johannesburg Wednesday, after he met South African President Cyril Ramaphosa and discussed implementing more favorable tax conditions for start-ups in the continent’s most-industrialized economy.

Ma has set aside $10 million for a fund for African entrepreneurs and said his next visit to the continent will be to Nigeria, the region’s most-populous nation.

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