Rédaction Africa Links 24 with Ghanaian Times
Published on 2024-03-26 06:54:17
The Tony Elumelu Foundation is a leading philanthropic organization that empowers young African entrepreneurs from all 54 African countries. In its tenth selection for the TEF Entrepreneurship Programme, the Foundation has announced the successful entrepreneurs who will receive funding, mentoring, and capacity-building support.
This new cohort brings the total number of young African entrepreneurs supported by the Foundation to 20,000, double the initial commitment. With a disbursement of US$100,000,000 directly to these entrepreneurs, over 400,000 direct and indirect jobs have been created, significantly contributing to Africa’s economic growth and development.
An impressive statistic is that forty-five percent of the beneficiaries are women, highlighting the Foundation’s commitment to gender inclusion and equity. Tony O. Elumelu, the founder, expressed pride in the journey the Foundation has embarked on over the past decade. He emphasized the importance of these entrepreneurs as the driving force behind Africa’s economic transformation and acknowledged their resilience, determination, and innovation.
Among the past entrepreneurs selected across Africa is Stella Sigana, the founder of Alternative Waste Technologies from Kenya. She produces fuel briquettes by converting organic and charcoal waste from slum settlements and reinvests a portion of the revenues into providing education, skills training, and job placement for adolescent girls and young women. Since her selection, Stella has created 12 jobs, generated over $79,000 in revenue, and recycled over 500 tonnes of waste into fuel briquettes.
Another success story is Vital Sounouvou from Benin, the founder of Exportunity, an e-commerce platform that promotes export opportunities for Africans by connecting producers with traders. Through Exportunity, Vital has engaged over 750 clients and built a database of 85,000 companies trading with Africa.
Nora Chaynane, a Moroccan entrepreneur, founded Shine Space, a socio-educational initiative aimed at bridging the knowledge gap and guiding students towards the right career path. Through Shine Space, Nora has upskilled and capacitated over 2,500 young Moroccans.
Since its inception in 2010, the Tony Elumelu Foundation has pioneered an innovative approach to seeding, capacitating, and networking young entrepreneurs across Africa. The impact of these entrepreneurs goes beyond business success, as they contribute to the overall economic growth and development of the continent.
In conclusion, the Tony Elumelu Foundation’s commitment to empowering young African entrepreneurs is evident in the success stories of individuals like Stella, Vital, and Nora. Through funding, mentoring, and capacity-building support, the Foundation is creating a brighter future for Africa by nurturing the next generation of innovative and resilient business leaders.
Read the original article on Ghanaian Times
