The Johannesburg-based African Leadership Academy has been awarded a grant of US$150,000 from the Blackstone Charitable Foundation to assist it in developing young entrepreneurs.
Blackstone awarded grants totaling US$3 million to 20 non-profit organizations that strengthen entrepreneurial ecosystems and support high growth entrepreneurs.
The organisation said the funding for the African Leadership Academy would further aid the academy’s work in encouraging the creation of new ventures.
“Our funding will allow African Leadership Academy, a pan-African secondary institution that aims to educate and develop outstanding students into principled ethical leaders for Africa, to pilot entrepreneurial training camps across Africa to allow young people to design and lead ventures,” Blackstone said.
Through the grants, Blackstone said it is helping innovative organisations pilot, expand or replicate programmes that will catalyse the growth of successful businesses, industries, and communities in their regions.
“Through our Entrepreneurship Initiative, the foundation is committed to strengthening and supporting entrepreneurs and entrepreneurial ecosystems globally through programs that enable the most promising new companies to remain and grow in their local economies,” said Amy Stursberg, executive director of the Blackstone Charitable Foundation.
“We view our Blackstone Innovation Grants as an extension of that work – the organizations we support are helping create the conditions necessary for entrepreneurs to thrive, and we look forward to working with them on these important efforts in the year ahead.”
