The Independent Uganda: You get the Truth we Pay the Price
Kampala, Uganda | THE INDEPENDENT | The Tony Elumelu Foundation (TEF), the leading African philanthropy committed to empowering African entrepreneurs, has announced 3,050 African entrepreneurs, drawn from all 54 African countries, selected to join the 5th cycle of its $100million TEF Entrepreneurship Programme.
The announcement was made at the Transcorp Hilton Abuja on Friday, following a presentation of the selection process by Accenture Development Partners.
This year, over 216,000 applications were received, an increase from last year’s 151,000. Nearly 90,000 were submitted by female entrepreneurs, an increase of 45%, illustrating the Foundation’s strategy to achieve greater gender balance.
In Uganda, the number of selected applicants grew from 165 applicants in 2018 to 259 applicants in 2019 with entrepreneurs running businesses majorly in the agriculture and manufacturing industries.
The selected Entrepreneurs will each receive non-refundable $5,000 of seed capital, access to mentors, and a 12 – week business training programme, directly focused on the needs of African entrepreneurs. On July 26 – 27 2019, they will gather at the TEF Entrepreneurship Forum, the largest annual gathering of African entrepreneurs and the entrepreneurship ecosystem on the continent.
TEF Founder, Tony O. Elumelu, said: “Every year, we face an almost impossible task – to select 1,000 entrepreneurs, from the hundreds of thousands that apply. Our entrepreneurs are hungry to effect change.
We know we are only scratching the surface, we see the depth of entrepreneurial talent, that all of us – government, business indeed African society, must harness to transform our economies and livelihoods. We must rally together to empower them and accelerate the change we want on the continent”.
Nigeria’s First Lady, Aisha Buhari, commended the Programme’s impact on the continent, charging the selected entrepreneurs to contribute to the advancement of the African continent.
“Indeed, I am confident that these Tony Elumelu entrepreneurs will inspire deep confidence and be of immense value not just to Nigeria but to the entire continent,” she said.
Speaking on the announcement, the incoming CEO, Ifeyinwa Ugochukwu, said, “The Tony Elumelu Foundation Entrepreneurship Programme has successfully empowered 7,520 entrepreneurs in its first five years of the 10- year programme.’’
Marking the fifth anniversary of the 10-year programme, this year’s selection includes 2,050 entrepreneurs, supported by the Foundation’s partners in addition to the Foundation’s annual commitment of 1,000, bringing the total number of entrepreneurs empowered by the Foundation to date to 7,520.
TEF 1: Nigeria’s First Lady, Aisha Buhari (4 th L); Founder, The Tony Elumelu Foundation(TEF),Tony Elumelu (5 th R); Trustee, TEF; Dr Awele Elumelu (3 rd R); flanked from Extreme left by Incoming CEO, TEF, Ifeyinwa Ugochukwu; Outgoing CEO, Mrs Parminder Vir; Israel Ambassador to Nigeria, Shalom Ben-Shoshan; Deputy Ambassador of Kenya to Nigeria, Amb. Yvonne, Yamati; and Amanyanabo of Okpoama Kingdom, Chief Ebitimi Banigo during the announcement of 3,050 entrepreneurs of the 5 th cycle of Tony Elumelu Foundation Entrepreneurship Programme held in Abuja on March 22, 2019.
(L-R) The Tony Elumelu Foundation(TEF) founder, Tony Elumelu; Nigerian’s First Lady, Aisha Buhari; and Trustee , TEF; Dr Awele Elumelu, during the announcement of 3,050 entrepreneurs of the 5 th cycle of Tony Elumelu Foundation Entrepreneurship Programme held in Abuja on March 22, 2019.
TEF 7: l-r: Incoming CEO, Tony Elumelu Foundation (TEF), Mrs Ifeyinwa Ugochukwu; Outgoing CEO, Mrs Parminder Vir; Wife to the President of Nigeria, Mrs Aisha Buhari; Founder, The Tony Elumelu Foundation(TEF), Mr. Tony Elumelu; and Trustee, TEF; Dr Awele Elumelu, during the announcement of 3,050 entrepreneurs of the 5 th cycle of Tony Elumelu Foundation Entrepreneurship Programme held in Abuja on Friday.
