The Tony Elumelu Foundation (TEF), the leading philanthropic organization that empowers African entrepreneurs from 54 African countries, has selected 4,949 entrepreneurs from across Africa for its 2021 entrepreneurship program.
The 2021 beneficiaries were selected from a pool of over 400,000 applicants, based on their innovation, performance and growth potential to create jobs and eradicate poverty on the continent. Comprised of both new start-ups and existing small businesses, the 2021 Tony Elumelu Entrepreneurs have received world-class training, mentorship and coaching and will have lifetime access to the Tony Elumelu Foundation alumni network.
Mr. Tony O. Elumelu, founder of the Tony Elumelu Foundation, said: “To you young African entrepreneurs – work hard, dream dreams and be very disciplined. You have to keep thinking about the impact.
“The journey of entrepreneurship is not linear – there are ups and downs, but by staying focused and resilient, success will ultimately come to you. 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 women entrepreneurs are doing very well, with 68% representation this year. “
He added: “To our African leaders – these smart, energetic, hardworking and resilient young Africans are ready to go. We must continue to create the right enabling environment for our young people to succeed.
“We must understand that their success is the success of all of us on the continent. We have to put them first because the nations and continents that put their people first are successful.
“To my fellow business leaders, let’s realize that in the 21st century and beyond, it’s about impact, legacy and how we work together to lift people out of poverty. It is such a great feeling to see 5,000 young Africans also starting their own entrepreneurial journey today. “
Speaking at the event, the Director General for International Cooperation and Development of the European Commission, Mr Koen Doens said:. We were both struck by how there was such a clear correspondence between his vision of how he could support African entrepreneurship and the European Union’s own vision of how we wanted to support African entrepreneurship.
“African entrepreneurship. Since then, our partnership has embodied that same spirit that ultimately African growth cannot overlook the enormous potential, creativity and entrepreneurship that is home to so many Africans, especially the youth and women.
“I am extremely happy that our partnership is entering this active phase, and I am very happy that over 2,400 women will benefit from the Tony Elumelu Foundation training program and receive seed money to support their ideas.
“I am extremely happy that in the European Union we can be part of and support this great enterprise. “
Also speaking at the event, Ms. Ahunna Eziakonwa, Deputy Administrator of UNDP / Director of the UNDP Regional Office for Africa said: “Our partnership with the Tony Elumelu Foundation on Youth Entrepreneurship is based on our conviction. that Africa will only succeed when young people are given the opportunity to excel. This is what inspired us to invest over $ 20 million in emerging African entrepreneurs since we entered into our partnership with the Tony Elumelu Foundation. Our shared ambition is to empower 100,000 young African entrepreneurs over the next ten years across Africa, recognizing that entrepreneurship is the only way to make dreams come true.
OACPS Secretary General, HE Georges Rebelo Pinto Chikoti, said: “On behalf of the Organization of African, Caribbean and Pacific States (OACPS), I would like to warmly congratulate the Tony Elumelu Foundation for this extraordinary achievement.
“We are proud to have partnered with the Tony Elumelu Foundation and our long-time partner the European Union to unleash the potential of 2,420 young African women through this TEF Entrepreneurship Program, providing mentorship and funding. , to develop and support these small businesses.
Speaking at the panel with M. Elumelu, 2015 Tony Elumelu Entrepreneur, Hauwa Liman, Founder of Afrik Abaya, said: “I am always proud to say that I am part of the inaugural cohort of the entrepreneurship program of the Tony Elumelu Foundation.
“My company is located in Kaduna, Nigeria. I benefited from this program in 2015, and it opened up a lot of doors and opportunities for me.
“It’s not just about the seed capital, but what really fascinates me about the program is the knowledge. I call it a mini-MBA program 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 entrepreneurial experience cannot be complete without the Tony Elumelu Foundation. I will soon start exporting thanks to the Foundation. We now employ ten permanent employees and eight additional employees on the commission. “
Tony Elumelu Foundation CEO Ifeyinwa Ugochukwu concluded the event by saying, “Today we have trained ten times more young African entrepreneurs than we have trained from 2015 to 2019 combined. Today, in 2021, we will pay a record $ 24,750,000 directly to African entrepreneurs in 54 African countries. This is the 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 it is not over yet. Through TEFConnect (https://bit.ly/3qLruxA), the Foundation’s exclusive digital platform, she has provided capacity building support, advice and business links to over 1.5 million Africans.
Applications for the Tony Elumelu Foundation 2022 open on January 1, 2022, at www.TEFConnect.com. For a list of Tony Elumelu entrepreneurs selected in 2021 and information on our candidates, please visit the Tony Elumelu Foundation website here (https://bit.ly/30pmzqN).
