• Home
  • Advertisement
  • Disclaimer
  • FAQS
  • Contact
  • Radio
facebook
linkedin
twitter
  • header-slide-0
  • header-slide-1
  • header-slide-2
  • header-slide-3
  • header-slide-4
  • header-slide-5
  • News
  • Education
  • Health
  • Business
  • Fashion
  • Technology
  • Sport
  • Life Style
  • Government
  • Immigrants
BREAKING NEWS
Africa Exchange Fair Trade Limited: Expands Into Kenya, Target High Commodities Trading While Bolstering the Continent’s Food Security
Tanzania: Seeks to Reach New Record Cashew Production by 2025
Nestle Nigeria: Capitalized Rural Women to enable Financial Capacity and boosting Standard of Living
World Trade Organization published: Trade plays an Important facet in Access to Medical, Goods and Services
African Development Bank Group President: Calls for More Partnerships to Build Africa’s Social Infrastructure
Ghana, Key Stakeholders: Sign a Renewable Energy Agreement Worth US$69.88 Million to Improve Access and Socio-Economic Development
Africa Development Bank: Approves $1.5 Billion Facility to Counter Food Crisis on the Continent
Sh32 Billion of Phase 2 of Second Container Terminal: Of the Kenya Ports Authority at the Port of Mombasa is finished off and…commissioning in June of 2022
Africa Green Growth Readiness Assessment: Reveals Africa Growing Political Commitment to Green Growth, Report
Embangweni Trading Centre: Got a facelift as a Contemporary Modern Market Structure by the Malawi Administration

Over $24 Million Funds: By Tony Elumelu Foundation to Support Entrepreneurs of Small Medium Enterprises (SMEs) in Africa for it 2021 Programme

Posted On 26 Nov 2021
By : NADN
Comment: 0

NEW AFRICA DAILY NEWS (NADN) Accra GHANA-  Over $24 Million Funds by Tony Elumelu Foundation to Support Entrepreneurs of Small Medium Enterprises (SMEs) in Africa for it 2021 Programme

The Tony Elumelu Foundation (TEF), the leading philanthropy empowering African entrepreneurs from all 54 African countries, has selected 4,949 entrepreneurs from across Africa for its 2021 Entrepreneurship Programme.


The 2021 beneficiaries were selected from a pool of over 400,000 applications, based on their innovation, performance, and growth potential to create jobs and eradicate poverty on the continent. Consisting of both new start-ups and existing small businesses, the 2021 Tony Elumelu Entrepreneurs have undergone world-class business training, mentorship and coaching and will have a life-time access to the Tony Elumelu Foundation alumni network.


Founder of the Tony Elumelu Foundation, Mr. Tony O. Elumelu shared, “To you young African entrepreneurs – work hard, dream dreams, and be very disciplined. You must continue to think of impact. The entrepreneurship journey is not linear – there are ups and downs, but by staying focused and resilient, ultimately success will come your way. The future of our continent is in your hands. What you do as entrepreneurs will go a long way in lifting Africa out of poverty. I am happy that our female entrepreneurs are doing very well, with 68% representation this year.”

He added: “To our African leaders – these young, intelligent, energetic hardworking, resilient Africans are ready to go. We need to keep creating the right enabling environment to enable our young ones to succeed. We must realise that their success is success for all of us on the continent. We must prioritise them because nations and continents that prioritise their people, succeed. To my fellow business leaders, let us realise that in the 21st century and beyond, it is about impact, legacy and about how we work together to power people out of poverty. It is such a great feeling to see 5000 young Africans also commence their own entrepreneurial journeys today.”

Also speaking at the event, Assistant Administrator, UNDP/Director, UNDP Regional Bureau for Africa, Ms. Ahunna Eziakonwa stated: “Our partnership with the Tony Elumelu Foundation on youth entrepreneurship is informed by our belief that Africa will only succeed when young

Africans are given the opportunity to excel. This is what has inspired us to invest more than $20 million in emerging African entrepreneurs since we entered into our partnership with the Tony Elumelu Foundation. Our joint ambition is to empower 100,000 young African entrepreneurs over the next ten years across Africa, recognising that entrepreneurship is the only way dreams can be realised.”

Speaking, Secretary General, OACPS, H.E. Georges Rebelo Pinto Chikoti stated: “On behalf of the Organisation of African, Caribbean and Pacific States (OACPS), I would like to heartily commend the Tony Elumelu Foundation for this extraordinary achievement. We are proud to have partnered with the Tony Elumelu Foundation and our longstanding partner, the European Union to unlock the potential of 2420 young African women through this TEF Entrepreneurship Programme, providing mentorship and funding, to grow and sustain these small businesses.”


Speaking on the panel with Mr. Elumelu, Hauwa Liman, Founder of Afrik Abaya, shared: “I am always proud to say that I am from the inaugural cohort of the Tony Elumelu Foundation Entrepreneurship Programme. My business is located in Kaduna, Nigeria. I benefitted from this Programme in 2015, and it opened up lots of doors and opportunities. It is not just about the seed capital, but what really fascinates me about the Programme is the knowledge. I call it a mini- MBA programme, because from the ideation stage it teaches you how to really articulate your business, and it gave me my first business plan. The network, visibility and opportunities are endless. My entrepreneurship experience cannot be complete without the Tony Elumelu Foundation. I will start exporting soon courtesy of the Foundation. We now employ ten permanent staff and an additional eight staff on a commission basis.”


Tony Elumelu Foundation CEO, Ifeyinwa Ugochukwu, concluded the event stating: “Today, we have trained ten times more young African entrepreneurs than we have trained from 2015 to 2019 combined. Today in 2021, we will be paying out a record US$24,750,000 directly to the hands of African entrepreneurs from all 54 African countries. This is impact.”


Since its inception, the Tony Elumelu Foundation has now funded a total of 15,847 entrepreneurs who have created more than 400,000 direct and indirect jobs and counting. Through TEFConnect, the Foundation’s proprietary digital platform, it has provided capacity-building support, advisory and market linkages, to over 1.5 million Africans.

 

For New Africa Daily News Richard Adorsu Reports,  Africa Correspondent

About the Author
  • google-share
Previous Story

$1.2 Billion: Financing undertakings has been endorsed by the African Export- Import Bank (Afreximbank) with quadruple African firms and a MoU with African Union Development Agency (AUDA-NEPAD)

Next Story

…$450 Billion hovered to enhance potential growths: According to the World Bank, and other partners, Women motivated to tap into the African Continental Free Trade Area

Leave a Reply Cancel reply

*
*

RECENT

POPULAR

COMMENTS

Africa Exchange Fair Trade Limited: Expands Into Kenya, Target High Commodities Trading While Bolstering the Continent's Food Security

Posted On 24 Jun 2022

Tanzania: Seeks to Reach New Record Cashew Production by 2025

Posted On 16 Jun 2022

Nestle Nigeria: Capitalized Rural Women to enable Financial Capacity and boosting Standard of Living

Posted On 14 Jun 2022

World Trade Organization published: Trade plays an Important facet in Access to Medical, Goods and Services

Posted On 10 Jun 2022

African Development Bank Group President: Calls for More Partnerships to Build Africa’s Social Infrastructure

Posted On 07 Jun 2022

New Africa Daily News Coming Soon

Posted On 31 Mar 2019

New Africa Daily News Coming Soon

Posted On 31 Mar 2019

New Africa Daily News Coming Soon

Posted On 31 Mar 2019

New Africa Daily News Coming Soon

Posted On 31 Mar 2019

Guinea Bissau President, urge to Norminate Prime Minister

Posted On 14 Jun 2019
banner

Recent Posts

  • Africa Exchange Fair Trade Limited: Expands Into Kenya, Target High Commodities Trading While Bolstering the Continent’s Food Security
  • Tanzania: Seeks to Reach New Record Cashew Production by 2025
  • Nestle Nigeria: Capitalized Rural Women to enable Financial Capacity and boosting Standard of Living
  • World Trade Organization published: Trade plays an Important facet in Access to Medical, Goods and Services
  • African Development Bank Group President: Calls for More Partnerships to Build Africa’s Social Infrastructure

Recent Comments

    Categories

    • Business
    • Education
    • Fashion
    • Featured
    • Health
    • Life Style
    • News
    • Sport
    • Technology
    • Uncategorized

    Tags

    Copyright 2014 - 2017 New Africa Daily News, Inc. A Global International Company, Inc. All Rights Reserved.