- Each entrepreneur receives non-refundable US$5,000
- 68% of beneficiaries are women entrepreneurs
The Tony Elumelu Foundation (TEF), the leadingphilanthropy 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 imspact. 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.”
Speaking at the event, Director-General, International
Cooperation and Development, European Commission, Mr. Koen Doens stated: “I
remember very well, a few years ago in Brussels when I first met Tony Elumelu
at one of the events his Foundation was organising. Both of us were struck by
how there was such a clear match between his vision on how he could support
African entrepreneurship and the European Union’s own vision on how we wanted
to support African entrepreneurship. Ever since, our partnership has embodied
this same spirit that ultimately African growth cannot neglect the huge
potential, creativity, and entrepreneurial spirit that harbours so many
Africans, especially young people and women. I am extremely glad our
partnership is moving into this active stage, and I am very glad that over 2400
women will benefit from the Tony Elumelu Foundation’s training programme, and
will get seed capital to support their ideas. I am extremely happy that at the
European Union, we are able to be part of this great endeavour and to support
it.”
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, 2015 Tony Elumelu
Entrepreneur, 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.
Applications for the 2022 Tony Elumelu Foundation opens on
January 1, 2022, on www.tefconnect.com. For a list of the selected 2021 Tony
Elumelu Entrepreneurs and information on our applicants, please visit the
website of the Tony Elumelu Foundation here.
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