5,000 African SME’s Benefit From 2021 TEF Entrepreneurship Programme

TEF Funds 5000 African SMEs from 54 African Countries for its 2021  Entrepreneurship Programme - The Tony Elumelu Foundation

Yemisi Izuora

About 5,000 entrepreneurs from across Africa benefited in the 2021 Entrepreneurship Programme, run by the Tony Elumelu Foundation (TEF).

The Foundation, a leading champion of entrepreneurship in Africa, said about 68 per cent of this year’s beneficiaries are women entrepreneurs.

The 2021 beneficiaries were selected from a pool of over 400,000 applications out of which 4,949 were selected based on their innovation, performance, and growth potential to create jobs and eradicate poverty on the continent.

Consisting of both new start-ups and existing small businesses, the Foundation said the 2021 Tony Elumelu entrepreneurs have undergone world-class business training, mentorship and coaching and will have lifetime access to its alumni network.

Tony O. Elumelu, the founder of the Tony Elumelu Foundation, said, “To you, young African entrepreneurs — work hard, dream dreams, and be very disciplined. You must continue to think of the impact. The entrepreneurship journey is not linear — there are ups and downs, but by staying focused and resilient, ultimately, success will come your way.

“The future of our continent is in your hands. What you do as entrepreneur will go a long way in lifting Africa out of poverty. I am happy that our female entrepreneurs are doing very well, with 68 per cent  representation this year.”

“To our African leaders – these young, intelligent, energetic hardworking, resilient Africans are ready to go. We need to keep creating the right enabling environment to enable our young ones to succeed. We must realise that their success is success for all of us on the continent.

“We must prioritise them because nations and continents that prioritise their people succeed. To my fellow business leaders, let us realise that in the 21st century and beyond, it is about impact, legacy and about how we work together to power people out of poverty. It is such a great feeling to see 5000 young Africans also commence their entrepreneurial journeys today.”

Speaking at the event, Director-General, International Cooperation and Development, European Commission,  Koen Downs stated, “I remember very well, a few years ago in Brussels when I first met Tony Elumelu at one of the events his Foundation was organising. Both of us were struck by how there was such a clear match between his vision on how he could support African entrepreneurship and the European Union’s vision on how we wanted to support African entrepreneurship.

“Ever since, our partnership has embodied this same spirit that ultimately African growth cannot neglect the huge potential, creativity, and entrepreneurial spirit that harbours so many Africans, especially young people and women.

“I am extremely glad our partnership is moving into this active stage, and I am very glad that over 2400 women will benefit from the Tony Elumelu Foundation’s training programme, and will get seed capital to support their ideas. I am extremely happy that at the European Union, we are able to be part of this great endeavour and to support it.”

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