BusinessDay

Tony Elumelu Foundation trains 200,000 African entrepreneurs

The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy empowering young entrepreneurs has trained over 200,000 across 54 African countries in core business management skills as part of its 2021 TEF Entrepreneurship Programme.

The training programme was conducted exclusively on TEFConnect – the foundation’s proprietary digital platform that provides capacity-building support, advisory, and market linkages.

“Yearly, our commitment to transform Africa is further strengthened with the passion, resilience, and talent of the high-calibre entrepreneurs who onboard our flagship programme,” Ifeyinwa Ugochukwu, CEO of the Tony Elumelu Foundation said in a statement.

“Our curricular provides a holistic opportunity for entrepreneurs to learn, grow and contribute to the development of their communities,” Ugochukwu said.

“Furthermore, it is a testament to the eagerness and readiness of African entrepreneurs across all of Africa to make themselves available to transform the continent for good,” she added.

She commended the entrepreneurs for their discipline, dedication, and hard work throughout the training and look forward to the immense impact of their businesses across diverse sectors in Africa.

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“We remain committed to empowering African entrepreneurs with the required resources and support that will ensure that their businesses can scale and drive sustainable change on the continent,” she noted.

With its unique curriculum, the TEF entrepreneurship programme equips entrepreneurs with the critical skills required to launch and run their businesses at the early growth stage.

According to the foundation, entrepreneurs were hosted to weekly information sessions, as part of the training, to address relevant concerns and share vital programme updates.

Also, all participating entrepreneurs received active support from coaches and mentors who provided technical guidance, counsel, and one-one interaction throughout the training programme.

The training, which is one element of the seven pillars of the TEF entrepreneurship programme, was carried out in the official African languages including English, French, Portuguese, and Arabic, and over 40 percent of trained participants were women.

The TEF entrepreneurship training is immediately followed by a business plan review process for each entrepreneur.

The top-performing entrepreneurs subsequently participate in the Pitching phase of the Programme after which successful entrepreneurs receive non-returnable seed capital of $5000 each.

The leading African philanthropy also hopes to train and empower thousands more across the African continent as part of its commitment to catalyzing economic growth, drive poverty eradication and ensure job creation.

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