Buhari commends Tony Elumelu Foundation on empowering 5,000 young African entrepreneurs

*The Nigerian President applauds the Tony Elumelu Foundation (TEF) for funding 1,522 Nigerian entrepreneurs from all the 36 States and FCT, saying the ‘unifying act by a private-sector leader is commendable and worthy of emulation by others’

*We need to keep creating the right enabling environment to enable our young ones to succeed ─ Tony O. Elumelu, Founder of the Tony Elumelu Foundation

Isola Moses | ConsumerConnect

For creating entrepreneurial opportunities for growth and development not only in Nigeria but Africa as a whole, President Muhammadu Buhari has applauded Mr. Tony O. Elumelu, Founder of the Tony Elumelu Foundation (TEF).

President Buhari commended Mr. Elumelu for his remarkable vision in training, mentoring and funding entrepreneurs from all 54 African countries, the effort which he described as “a truly lasting legacy”, report stated.

Mr. Tony O. Elumelu, Founder, the Tony Elumelu Foundation (3rd from left), at the announcement of 2021 Tony Elumelu Foundation Entrepreneurship beneficiaries   Photo: TEF

The President stated that Nigeria remains very proud of Elumelu, as he described him as a global icon whose business and philanthropic interests continue to create opportunities for growth and development not only in Nigeria but Africa as a whole.

Buhari also congratulated all the 2021 Tony Elumelu Foundation beneficiaries recently unveiled in Lagos, wishing them well in the future.

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

The President further noted: “I would like to specifically congratulate the Tony Elumelu Foundation on this extraordinary humanitarian act of funding 4,949 entrepreneurs.

“I am particularly pleased that this year alone, the Tony Elumelu Foundation will fund 1,522 Nigerian entrepreneurs from all the 36 states and Federal Capital Territory of the Federation. This unifying act by a private-sector leader is commendable and worthy of emulation by others.”

He described entrepreneurship and youth empowerment as  important components of the work of his administration in the country.

“We believe that they are the key to the future and recognise that by empowering our youth. We will build businesses that in turn sustain our economy,” said Buhari.

Announcing the 2021 Tony Elumelu Foundation Entrepreneurship Beneficiaries

Consisting of both new start-ups and existing small businesses, the 2021 Tony Elumelu Entrepreneurs were said to have undergone world-class business training, mentorship and coaching, and would have a lifetime access to the TEF alumni network.

In his address on the occasion, Mr. Elumelu said: “To you young African entrepreneurs – work hard, dream dreams, and be very disciplined. You must continue to think of 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 entrepreneurs will go a long way in lifting Africa out of poverty.

“I am happy that our female entrepreneurs are doing very well, with 68 percent representation this year.”

The TEF Founder also stated: “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.”

He added: “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 5,000 young Africans also commence their own entrepreneurial journeys today.”

Speaking at the event, Mr. Koen Doens, Director-General, International Cooperation and Development, European Commission, stated: “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 2,400 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.”

Likewise, Ms. Ahunna Eziakonwa, Assistant Administrator, UNDP/Director, UNDP Regional Bureau for Africa, stated: “Our partnership with the Tony Elumelu Foundation on youth entrepreneurship is informed by our belief that Africa will only succeed when young Africans are given the opportunity to excel.

“This is what has inspired us to invest more than $20 million in emerging African entrepreneurs since we entered into our partnership with the Tony Elumelu Foundation.

“Our joint ambition is to empower 100,000 young African entrepreneurs over the next 10 years across Africa, recognising that entrepreneurship is the only way dreams can be realised.”

Kindly Share This Story