Tony Elumelu pledges $100 million to help grow 10,000 African startups

Tony Elumelu, chairman of Heirs Holdings, has launched a $100million pan-African entrepreneurship initiative to help grow startup endeavors across the continent. 

The Tony Elumelu Foundation Entrepreneurship Program plans to support 10,000 entrepreneurs throughout Africa. 

Selected entrepreneurs will receive seed funding and mentoring 80% of people in Nigeria and Uganda see opportunities for starting businesses. 

CNN reports that the initiative is the largest African philanthropic gift aimed at boosting the continent's entrepreneurs.