Rédaction Africa Links 24 with Abdul Rashid Thomas
Published on 2024-03-27 13:42:48
The Tony Elumelu Foundation (TEF) is a leading philanthropic organization dedicated to empowering young African entrepreneurs from all 54 African countries. Recently, the Foundation announced the successful entrepreneurs selected for its tenth cohort in the TEF Entrepreneurship Programme. This brings the total number of young African entrepreneurs supported by the Foundation to 20,000, doubling its initial commitment.
Through the TEF Entrepreneurship Programme, the Foundation has disbursed over US $100,000,000 directly to young African entrepreneurs. This support has led to the creation of over 400,000 direct and indirect jobs, making a significant contribution to Africa’s economic growth and development. Notably, 45% of the beneficiaries are women, highlighting the Foundation’s commitment to gender inclusion and equity.
Previous entrepreneurs selected by the Foundation include individuals like Stella Sigana from Kenya, Vital Sounouvou from Benin, and Nora Chaynane from Morocco. These entrepreneurs have made significant strides in their respective fields, creating jobs, generating revenue, and making a positive impact on their communities.
Since its establishment in 2010, the Tony Elumelu Foundation has taken an innovative approach to supporting and connecting young entrepreneurs across the African continent. Inspired by Founder Tony Elumelu’s entrepreneurial journey, the Foundation aims to democratize luck and spread opportunity through a sector-agnostic approach. Its infrastructure reaches every African country, providing support and resources to entrepreneurs in various sectors.
The Foundation is guided by the philosophy of Africapitalism, which emphasizes the role of the private sector, particularly entrepreneurs, in driving Africa’s development. Through strategic partnerships with organizations like the European Union, UNDP, ICRC, USADF, and others, the Foundation has been able to expand its reach and impact.
In 2024, the Foundation will fund an additional 100 young entrepreneurs from Benin Republic, as part of its ongoing commitment to supporting African entrepreneurs. Tony O. Elumelu, the Founder, expressed his pride in the impact the Foundation has made over the past decade, highlighting the resilience, determination, and innovation of African entrepreneurs.
As part of its continued support for young African entrepreneurs, the Tony Elumelu Foundation currently offers opportunities like the Women Entrepreneurship For Africa (WE4A) program and the Aguka Entrepreneurship Programme. These initiatives provide training, mentorship, access to networks, and funding for aspiring entrepreneurs across the continent.
Overall, the Tony Elumelu Foundation’s dedication to supporting and empowering African entrepreneurs has had a significant impact on economic development and job creation in Africa. Through its innovative programs and partnerships, the Foundation continues to inspire and uplift the next generation of African business leaders.
Read the original article on Sierra Leone Telegraph
