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TEF to prioritise economic recovery of SMEs in 2021

The Tony Elumelu Foundation (TEF) entrepreneurship programme says the seventh edition will prioritise the economic recovery of small and medium scale enterprises (SMEs) following the global disruptions triggered by the COVID-19 pandemic.

Somachi Chris-Asoluka, director of partnerships and communications at TEF, who disclosed this, equally wants applicants for the 7th edition of the programme to ensure that their applications reach the foundation before the March 31 deadline. Application for the programme commended on January 1, hosted on the Tefconnect digital platform (www.tefconnect.com)

According to Chris-Asoluka, entrepreneurs’ full participation would create a pathway to economic prosperity.

“This year, we have the capacity to empower more African entrepreneurs than ever, further ensuring that they have adequate training, funding, and mentorship to boost their performance.

Read Also: Unicorns and Angels; Nigeria’s SME accelerator model in focus

It is time for young African entrepreneurs to embrace this much-needed support system to enable thriving and sustainable economic activity. We believe we will continue to see an exponential change in sectors across the continent,” she said.

Chris-Asoluka said that the programme would empower over 3,500 young African entrepreneurs in collaboration with global partners in order to address the challenges arising from the pandemic, adding that the goal was to lift millions out of poverty and create sustainable employment across the continent.

She also mentioned that successful applicants would receive world-class business training, mentorship, non-refundable seed capital up to $5,000, and global networking opportunities.

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