Africapitalism promoter and chairman, Tony Elumelu Foundation (TEF), on Tuesday urged more of the continent’s successful entrepreneurs to partner in the task of mentoring and raising the next generation of African success stories.
A statement by the leading entrepreneurship-focused philanthropic organisation, announcing the foundation’s 4th Annual Entrepreneurship Forum scheduled for October 25, 2018, in Lagos, noted that this has become expedient against the backdrop of the number of interests expressed in its yearly cohort.
According to Elumelu, who is also chairman of the United Bank for Africa Plc and Transnational Corporation of Nigeria (Transcorp), “we will be championing and celebrating them. This year, we are truly achieving scale and impact; we received over 150,000 applications in 2017 alone, up from 20,000 applications in 2015 (650%).
“We are now calling on the current generation of African success stories and others to partner with us to see how we can all further create impact, genuinely transform millions of lives and increase the number of inspiring stories we will be hearing in Lagos”.
Elumelu also expressed satisfaction that in just four year, TEF has “directly impacted 4,460 entrepreneurs, and we are beginning to see the results – job creation, ripple effects, but most importantly a recognition that Africa’s economic well-being is driven by entrepreneurs: female and male, large and small – they are the engine of our continent’s transformation.
The event, the statement continued, will unite over 5,000 entrepreneurs, global investors, leaders from the African public and private sectors and developmental organisations.
The 2018 cohort, a unique opportunity to generate ideas, forge networks and bring policymakers and the private sector together, in a spirit of robust debate and interaction, the statement added, will bring mentors face-to-face with partners, culminating intensive 12-week induction programme.
In line with the Foundation’s tradition, the Forum will include an interactive session with President Uhuru Kenyatta of Kenya and President Nana Akufo-Addo of Ghana, moderated by the TEF Founder.
The Forum will also feature the launch of the TEFConnect, the world’s largest digital platform for African entrepreneurs, dedicated to connecting African entrepreneurs and the entrepreneurship ecosystem.
Also, Chief Executive of TEF, Parminder Vir assured that “the TEF Entrepreneurship Forum is the only event across the continent that brings together the complete African entrepreneurship ecosystem, demonstrating our commitment to capturing the whole continuum – from the entrepreneurs themselves, governments who must provide enabling environments, to capital, advice and perhaps most importantly access and network”.
Inspired by Tony Elumelu’s economic philosophy of Africapitalism and his vision to institutionalise luck and democratise opportunity for a new generation of African entrepreneurs, the Tony Elumelu Foundation has implemented one of the most ambitious entrepreneurship programmes globally.
The Programme is a 10-year, $100 million commitment to identify, train, mentor, and fund 10,000 entrepreneurs. Its goal is to invest in businesses that will generate at least 1,000,000 new jobs and contribute at least $10 billion in new annual revenues across Africa. In its 4th year, TEF Entrepreneurship Programme has empowered 4,460 entrepreneurs with a total investment of USD20m; 4,000 funded directly by the Foundation and 460 have been funded by partners.
https://investdata.com.ng/2018/08/applications-for-elumelu-foundation-cohort-rises-by-650-forum-holds-oct-25/
