The Tony Elumelu Foundation (TEF), the leading African philanthropy
committed to empowering African entrepreneurs, today announced 3,050
African entrepreneurs, drawn from all 54 African countries, selected to
join the 5th cycle of its $100million TEF Entrepreneurship Programme.
The
announcement was made at the Transcorp Hilton Abuja, following a
presentation of the selection process by Accenture Development Partners.
This
year, over
216,000 applications were received, an increase from last
year’s 151,000. Nearly 90,000 were submitted by female entrepreneurs, an
increase of 45%, illustrating the Foundation’s strategy to achieve
greater gender balance. The selected Entrepreneurs will each receive
non- refundable $5,000 of seed capital, access to mentors, and a 12-week
business training programme, directly focused on the needs of African
entrepreneurs. On July 26 – 27 2019, they will gather at the TEF
Entrepreneurship Forum, the largest annual gathering of African
entrepreneurs and the entrepreneurship ecosystem on the continent.
TEF
Founder, Tony O. Elumelu, CON, who celebrated his birthday today, said:
“Every year, we face an almost impossible task – to select 1,000
entrepreneurs, from the hundreds of thousands that apply. Our
entrepreneurs are hungry to effect change. We know we are only
scratching the surface, we see the depth of entrepreneurial talent, that
all of us – government, business indeed African society, must harness
to transform our economies and livelihoods. We must rally together to
empower them and accelerate the change we want on the continent”.
In
her speech, Her Excellency, Mrs. Aisha Buhari, the wife of the
President, Federal Republic of Nigeria, commended the Programme’s impact
on the continent, charging the selected entrepreneurs to contribute to
the advancement of the African continent.
“Indeed, I am confident
that these Tony Elumelu entrepreneurs will inspire deep confidence and
be of immense value not just to Nigeria but to the entire continent,”
she said.
Speaking on the announcement, the incoming CEO, Ifeyinwa
Ugochukwu, said, “The Tony Elumelu Foundation Entrepreneurship
Programme has successfully empowered 7,520 entrepreneurs in its first
five years of the 10- year programme.
Marking the fifth
anniversary of the 10-year programme, this year’s selection includes
2,050 entrepreneurs, supported by the Foundation’s partners in addition
to the Foundation’s annual commitment of 1,000, bringing the total
number of entrepreneurs empowered by the Foundation to date to 7,520.
Last
year, we launched TEFConnect – the digital networking platform for
African entrepreneurs and open to all – to further democratise the
access to opportunities for the thousands of entrepreneurs that cannot
directly benefit from our Entrepreneurship Programme. This further
demonstrates our commitment to empowering our entrepreneurs and our
belief that entrepreneurship holds the key to unleashing the true
potential of the African continent”, she said.
The Foundation’s
growing list of partners includes the International Committee of the Red
Cross (ICRC), the United Nations Development Programme (UNDP), the
Federal Republic of Benin (Seme City), the Anambra State Government,
Indorama, the Government of Botswana and the African Development Bank
(AfDB).
For a list of the selected 2019 Tony Elumelu Entrepreneurs and information on our applicants, please visit tefconnect.com.
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