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The Tony Elumelu Foundation is calling for proposals from exceptional film production companies to create an exciting TV commercial that highlights the impact of the Tony Elumelu Foundation, with emphasis on its flagship Entrepreneurs programme.

The Tony Elumelu Foundation is the leading philanthropy empowering a new generation of African entrepreneurs that is driving poverty eradication, catalyzing job creation, and ensuring women’s economic inclusion in all 54 African countries.

Since the launch of the TEF Entrepreneurship Programme in 2015, the Foundation has trained over 1.5 million young Africans on its digital hub, TEFConnect, and disbursed nearly USD$100 million in direct funding to 18,000 African women and men, who have collectively created over 400,000 direct and indirect jobs. The Foundation’s mission is rooted in Africapitalism, which positions the private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the African continent.

The robust ability of the Foundation to impact the lives of young African entrepreneurs across geographies and sectors has been very visible, and has resulted in the emergence of strategic partnerships with the European Union (EU), United Nations Development Programme (UNDP), the International Committee of the Red Cross (ICRC), the United States Government via the United States African Development Foundation (USADF), The Organisation of African, Caribbean and Pacific States (OACPS), The French Development Agency (AFD), The German Development Finance Institution (DEG), The German Agency for International Cooperation (GIZ), The African Development Bank (AfDB), and Google, with bespoke programmes including focus on women empowerment and sustainable growth in fragile states. 

The ToR (Terms of Reference) can be found here.

All interested film production companies can apply here.

Submissions close one week from the time of this publication.

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Ms. Assah brings her extensive experience as Global Business Manager, Financial Institutions Group at the International Finance Corporation (IFC), part of the World Bank Group, where she has worked since 2000. Her focus is on managing Financial Inclusion, Agriculture Finance, and SME programmes, with a proven track record in structuring innovative financial products for underserved populations in developing countries. Recently, she helped raise and manage a $100 million fund for rural finance and insurance, benefiting 40 million people globally.

In addition to her work at TEF, Ms. Assah’s expertise extends to financial sector analysis, advisory services, and investment projects, gained from her work in various departments within the World Bank Group, including IFC and MIGA. She has been instrumental in providing technical assistance to governments and financial institutions to support MSMEs and SMEs, further aligning with TEF’s mission of empowering African entrepreneurs.

Ms. Assah holds a Master’s in Insurance Business from the Ecole Supérieure des Assurances de Paris and a Master’s in Business from the Université de Paris.

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Since the launch of the TEF Entrepreneurship Programme in 2015, the Foundation has trained over 1.5 million young Africans on its digital hub, TEFConnect, and disbursed nearly USD$100 million in direct funding to 18,000 African women and men, who have collectively created over 400,000 direct and indirect jobs.  The Foundation’s mission is rooted in Africapitalism, which positions the private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the African continent.

The Foundation’s ability to fund, train, mentor, and network young African entrepreneurs, has created a unique platform for catalysing growth across the African continent.  The robust ability of the Foundation to reach entrepreneurs across geographies and sectors, has enabled it to conduct innovative partnerships with the European Union, United Nations Development Programme, the International Committee of the Red Cross, the United States Government via the United States African Development Foundation (USADF), The Organisation of African, Caribbean and Pacific States (OACPS), The French Development Agency (AFD), The German Development Finance Institution (DEG), The German Agency for International Cooperation (GIZ), The African Development Bank (AfDB), and Google, with bespoke programmes including targeting female empowerment and growth in fragile states.

Somachi, who joined the Foundation in 2014, has served as the Foundation’s Head of Research, Head of Policy and External Relations, and most recently as the Director of Partnerships and Communications.  In her new role as CEO, Somachi will leverage her expertise, experience and network to provide strategic leadership in consolidating and deepening the Foundation’s work of transforming Africa through entrepreneurship.

Speaking on the appointment, Tony O. Elumelu, CFR stated: “This is an important time for the Foundation and Africa.  Our work is ever more important, and our platform is demonstrating our ability to truly catalyse change.  We are increasingly working with partners, to magnify our impact.  Somachi’s experience in partnership development will be particularly relevant.  Somachi, as Director of Partnerships & Communications, has demonstrated strong leadership, commitment, and strategic thinking, in delivering the Foundation’s mission to transform Africa.  She is the perfect candidate to build on Ifeyinwa Ugochukwu’s impactful contribution.

“On behalf of the Board, I also thank Ifeyinwa, for her considerable achievements, significant sacrifice and commitment to building and empowering the next generation of African business leaders.  The Foundation, since inception, has been led by a succession of dynamic and diverse CEOs, who have each brought passion, commitment, and innovation.  As the tenure of Ifeyinwa draws to a close, I look back on the last five years and pay tribute to the impact she has made, first as Director of Partnerships, and later as the Chief Executive Officer.”

In response, Ifeyinwa said: “Over the last five years, the Tony Elumelu Foundation has significantly expanded its mission to empower African Entrepreneurs across all 54 African Countries.  In particular, the Foundation has grown its partnership capability, opening its platform and process to third parties, who share in our commitment to growing the African entrepreneurial ecosystem, and transforming Africa by empowering entrepreneurs.  As CEO, it has been my profound joy to lead the dynamic team to empower the next generation of young people whose ideas are transforming Africa.”

Accepting her appointment, Somachi said: “I am honoured to be appointed to lead the Foundation, particularly at a time when we will be launching a new Coalition for African Entrepreneurship.  This Coalition will bring together global and African partners to significantly increase the impact created by TEF’s unique platform for identifying, mentoring, training and funding young African entrepreneurs.  I look forward to working with the team, our partners, and all stakeholders to achieve our common goal of a strong, confident, self-reliant Africa.  I am honoured to build on Ifeyinwa’s legacy and launch the Tony Elumelu Foundation into its next phase of impact.”

Somachi graduated Summa Cum Laude from Saint Mary’s College of California with a BSc. in Economics and minor in Mathematics, and received the “Adam Smith” award given to the highest performing graduating student in Economics.  She also has a Master’s Degree in International and Development Economics from Yale University.  She is a Deputy Champion of the World Economic Forum (WEF) EDISON Alliance.

Applications for the 2023 Tony Elumelu Foundation Entrepreneurship Programme are now open. Apply now on Tefconnect.net.

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• His Excellency, President Félix Antoine Tshisekedi of Congo DRC, My dear brother and friend. Un grand merci!

• H.E. Nicolas Kazadi – Minister of Finance and H.E. Eustache Muhanzi Mubembe – Minister of Entrepreneurship

• Distinguished guests from the public and private sector here with us today

• And most important of all, as it is their day, the young African entrepreneurs here today!

• I would like to commend Mr. President for his focus on developing the young people in his country and his administration’s strong stance on promoting entrepreneurship as a viable means for his citizens to create sustainable wealth and jobs

• Today, I am happy to announce the 2022 cohort of the Tony Elumelu Foundation Entrepreneurship Programme.

• I am delighted to do this here in Kinshasa. We are a pan African institution; we support entrepreneurs, young women and men,  in all 54 African countries. It is an honour and pleasure to come to the DRC to make this announcement.

• The Tony Elumelu Foundation was founded in 2010 democratise luck and create economic opportunities of jobs creation, poverty alleviation and women inclusion.

• As I always say, luck on its own is nothing but when luck meets preparedness, it translates into success.

• So let me commend our beneficiaries, you were selected based on your unwavering passion and hard work. You demonstrated this determination, which you applied from the moment you started your application on TEFConnect, till you participated in the final pitching competition, and you see the results – and this is is only the beginning. The seed capital, the training, the networks will propel you forward.

• You have worked for your luck, and that is what I preach, that luck is hard work, that luck is passion.

• So let us welcome you onboard this journey of helping to develop Africa, because no one but us will develop our continent.

• What we do at the Tony Elumelu Foundation is our own contribution towards developing Africa, because we realise that ultimately it is not the money that we have in our bank accounts that matters, it is the impact and legacy.

• Now is Africa’s time – we know life is tough, we know the road can be long, but we – and this young generation – have thr strength the aptitude and the confidence to succeed.

• I join the President of the Democratic Republic of Congo – H.E. Félix Antoine Tshisekedi, and all our other partners:

• The United States African Development Foundation

• UNDP Mali

• UNDP Rwanda

• BADEA

• SightSavers and

• The African Education Foundation in Congo Brazaville, in congratulating all of you.

• We thank these wonderful partners – partners and allies we cherish, because we know there is so much to do. It is truly a celebration of Africans and our global friends coming together, creating direct, measurable impact – catalysing the private sector, a sector that can do well and do good – it is a message and example I want the world to recognise.

• To our young ones who have been empowered through the training, mentoring and now funding, the time has come for you to develop Africa.

• The future of our continent indeed lies in your hands!

• Thank you

• Merci et bonne chance

Tony O. Elumelu, CFR
Founder, Tony Elumelu Foundation

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…. each entrepreneur receives non-refundable US$5,000

….56% of beneficiaries are women entrepreneurs

Kinshasa, DRC: On Monday, December 5, 2022, The Tony Elumelu Foundation (TEF) announced the 2022 beneficiaries of its flagship Entrepreneurship Programme at the annual Tony Elumelu Foundation selection announcement, which was held for first time ever, outside of Nigeria, in the Democratic Republic of Congo (DRC).

Hosting the 2022 selection announcement of the pan-African Tony Elumelu Foundation Entrepreneurship Programme in DRC is highly significant, as it underlines TEF’s commitment to democratizing luck and increasing access to opportunity for all Africans across the continent.

This highly symbolic occasion represents the next chapter of the TEF Entrepreneurship Programme, and was co-convened in the capital city of Kinshasa, in partnership with the DRC Minister of Finance; H.E. Nicolas Kazadi, under the leadership of the DRC Head of State, H.E. President Félix-Antoine Tshisekedi Tshilombo, and supported by the United Bank for Africa (UBA) in DRC. In attendance were the DRC Minister of Finance; H.E. Nicolas Kazadi, the DRC Minister of State for Entrepreneurship; H.E. Eustache Muhanzi Mubembe, and the DRC Prime Minister; S.E.  Sama Lukonde, and other honourable members of the government and key public-private sector players from the DRC entrepreneurship ecosystem.

In 2015, TEF Founder, Mr. Tony O. Elumelu, and his family committed USD$100million to democratise luck and spread economic hope across Africa, by empowering 10,000 African women and men, over 10 years, through the annual Tony Elumelu Foundation Entrepreneurship Programme.

After only 7 cycles into this Programme, the Tony Elumelu Foundation has disbursed over USD$85million to young and enterprising beneficiaries and empowered 18,000 African women and men, who have gone on to achieve their innovative concepts and who are solving Africa’s most challenging problems.

What the Tony Elumelu Foundation has set out to do through its entrepreneurship programme is truly catalysing development across Africa and changing not just the narrative, but the reality, of what Africa is capable of. Through the Tony Elumelu Foundation’s strategic Public-Private-Youth partnerships with local and international agencies, has catalysed a global movement of jobs creation, poverty alleviation and women inclusion across all 54 countries in Africa.

The partners that worked with the Tony Elumelu Foundation to scale its impact across Africa in 2022 include: the Government of the Democratic Republic of the Congo (DRC); led by H.E. President Félix Antoine Tshisekedi, United States African Development Foundation (USADF), the United Nations Development Programme (UNDP) for Mali, the United Nations Development Programme (UNDP) for Rwanda, the Arab Bank for Economic Development in Africa (BADEA), SightSavers and the African Education Foundation (FAE Africa) in Congo Brazzaville.

The 2022 Tony Elumelu Entrepreneurs were selected from a pool of hundreds of thousands of applications from all 54 African countries who undertook a world-class business management training, received expert mentoring, and participated in a business pitching competition, where they demonstrated their business growth potential and innovation, all designed to provide lasting solutions to Africa’s unique problems.

All selected Tony Elumelu Entrepreneurs are granted life-long access to www.TEFConnect.com, the Tony Elumelu Foundation’s digital platform where they have life-long access to the Tony Elumelu Foundation’s alumni and mentor networks, market linkages, and the opportunity to network with the over 1.5 million African entrepreneurs from across the continent that are subscribed to the platform.

“I am very happy to be here today. [The Democratic Republic of the Congo (DRC)] is a second home for me; the United Bank for Africa (UBA); and the Tony Elumelu Foundation. We have a very strong relationship with [DRC], UBA operates here but more importantly the Tony Elumelu Foundation is firmly rooted in this great country.

In 2019 [the DRC] amiable president, H.E. President Félix-Antoine Tshisekedi Tshilombo, was personally physically in attendance for the 2019 Tony Elumelu Foundation Forum, and not only did he attend but his government also sponsored entrepreneurs who were selected from [DRC] under his leadership. His love for the youth and entrepreneurship continued in every conversation we had, and his stance was always “what more can we do for our youth?”. This year his government, through the Minister of Finance, H.E. Nicolas Kazadi, has partnered with the Tony Elumelu Foundation to increase the participation of beneficiaries in [DRC].

They are supporting more entrepreneurs with the sum of USD$600,000.00. This is significant and to us at the Tony Elumelu Foundation, we believe that the future of our continent lies in the hand of our young ones. We support and commend the government for recognising the significant role that our young ones are playing, should play, and have to play, in the development of our continent. So, in appreciation of this we decided to make the 2022 Tony Elumelu Foundation selection announcement in your great country.” – Mr. Tony O. Elumelu, CFR., Founder, The Tony Elumelu Foundation.

“It is wonderful to see the end result of the exchange between the President of the Democratic Republic of Congo and the Tony Elumelu Foundation, to set up this great initiative to support entrepreneurship. I would like to thank our partner Tony Elumelu and his Foundation for this first action put together to support the blossoming of SMEs to play a main role in African economies, especially the Democratic Republic of the Congo (DRC).” – S.E. Sama, Prime Minister of the Democratic Republic of the Congo (DRC).

The Tony Elumelu Foundation continues to foster youth entrepreneurship for Africa’s sustainable development through strategic partnerships with governments, development organisations and private bodies across the globe, to create economic opportunities of jobs creation, poverty alleviation and women inclusion across the continent.

The Tony Elumelu Foundation will start receiving applications for its entrepreneurship programme on the 1st of January, 2023 on January 1, 2023, via www.tefconnect.com. The list of the selected 2022 Tony Elumelu Entrepreneurs can be found on the website of the Tony Elumelu Foundation here.

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Let me also use this opportunity to thank the President of Nigeria his excellency Muhammad Buhari GCFR for the opportunity for this university to be opened in Delta state. I am a proud indigene of Delta State and a strong supporter of businesses, institutions, and residents, and of course our government. Ladies and gentlemen, I have been asked to speak on leadership, on the prosperity of preliminary leadership. So, I would like to start by saying “what is leadership?”

We know a good leader when we see one. They stand out, they command attention, they get respect and mobilise their people. A good leader brings out the best, good leadership drives us to do better in everything we find ourselves in and good leadership is defined by results. We see leadership in our armed forces, in business globally and here in Nigeria as well. I come from a very humble background and I am an optimist I built UBA in Nigeria from Lagos and today we have branches across 20 African countries. We are the only bank with operating access in USA. We operate in UK, in France and recently in Dubai. All of these from Nigeria all of these from here in Africa. We built in Nigeria indeed an African multinational. A complex reminder of successful business, it took leadership to accomplish this. My colleagues and I took over Transcorp Transnational Corporation of Nigeria from the state to where it is today creating about 15% of our daily electricity consumption in Nigeria and exporting power to countries.

That is leadership. You see how leadership can change countries in Singapore. In Rwanda, you see how leadership can change the world. I was there 5 years ago and if you go there today it is totally different. You see in India; India is changing the world not only are they changing the world economically they are redefining the curricular scheme of the world. That is leadership when leadership is strong at home your people excel everywhere.

Ladies and gentlemen change does not just happen, change does not happen without leadership and change is what is needed in Africa and not just Africa globally, and let us be frank about our continent, our beloved continent. In the 2000s there was growth, economic growth.

In fact, a leader once said he did not know what to do with the wealth of his country. There was a political dynamic which to a large extent had begun in Africa and we saw GDP rise in Africa, and peace and stability restored in Africa. But today we have challenges, we need to fix the insecurity and senseless killing of our people in some parts of Nigeria Ethiopia, Mali different countries.

In Nigeria, we need to end the oil theft that is robbing us of our commonwealth we can’t prosper with that continuing. We need action on climate change where Africa suffers the most consequences of others pollution from around the planet.  We bear the brunt when the levels of carbon emission is almost 0. We see challenges to security but also to our environment. Troubles in almost every part of the world. It is a lack of leadership. Leadership again is imperative to something that is so critical to human survival.

I created the TEF which supports entrepreneurs across all African countries to produce leaders.

Entrepreneurs are leaders. They are being inspired to drive to push and to succeed because their success is translated not only to themselves and their families but to nations, societies, and humanity everywhere. In this institution we are in today I have been able to bring our navy and our private sector together. Leadership is part of your DNA. So, I commend every stakeholder in this University that makes it work.

To our graduands, as you graduate today a lot must be going on in your mind on what the future holds for you. I have been here before when I was sitting where you are now, I could not imagine where I would be in 10, 20 or 30 years’ time. You have my confidence and you have my hope.

Let me continue with an important thing. Napoleon is quoted as saying “I know he is a good general but is he lucky?”

We all know about success we have learned about leadership in our schools, and textbooks everywhere.

We all know about failure some of us have felt and experienced it. But let’s talk about luck, let us talk about this interesting phenomenon. In business in life at home, everything luck is often overlooked. Business schools do not teach luck. Luck is humbling it is not spread equally, luck is not an entitlement, and it comes in many forms. It can be by chanced meeting, an inheritance, or a choice of direction between two paths that can change your life forever.

Personally, I reflect on the years since I graduated, since I sat in the way you are sitting right now. There are many reasons why I am where I am now. I owe one of my first promotions to luck. Yes, I was determined, resilient, and intelligent but let me be frank. Luck played an important part in my life. We are all Africans we know life is tough in fact it gets tougher we need that extra resilience, and that determination but we also need luck.

 In what we do at the Tony Elumelu Foundation we try to spread luck because we are the beneficiaries of luck. We do not shy away from saying we are where we are today because of luck. We are not the most intelligent in our class. We are not the most talented, but we are here because of luck so we owe it to others to spread luck with our resources so that others can get it and become lucky. We know many do not have a network but networking is a key aspect of success in life. We know many do not have access to capital or training we try at the Tony Elumelu Foundation to make this available. Access to training ad mentoring. Today at the Tony Elumelu Foundation we have economically empowered over 17,000 African men and women each will get a non-refundable capital between 3,000-5,000 dollars.

The lady who introduced me spoke about the 100-million-dollar commitment. Today we have spent over 85 million dollars on this trying to democratise luck and help to uplift Africa and play our own role in the sustainable development of Africa. Of these 17,000 people about half are Nigerians and out of these half it is spread across the 36 states including the FCT.

 I do not know any of the beneficiaries personally, and none from my family. If I look at my own legacy that is what I want and not about billions in my bank account, it is about democratising luck, especially for our promising young ones who do not have godfathers to help them succeed in life. But let me be clear luck is not a substitute for hard work. Luck is not a substitute for labour. Luck is not a substitute for persistence but luck is part of the properties of success that you need to thrive.

There are 2 ingredients for luck there is hard work and there is passion. The more work you put into something and the more passion you apply the luckier you would find yourself. There have been moments in my business life where I felt I got lucky but when you take a closer look maybe I was actually earning my luck and not being lucky.

Luck is important but not a substitute for hard work and passion. So go graduands with these words in mind; you have to work hard you have to be passionate about whatever you are doing. So be successful and make your own luck, earn your own luck.

The world needs luminary leaders, and it could be you. The graduands we see today hard work and passion are within your own powers and control. There are things you do not have control but hard work is you determining that you will work hard. Passion is you embracing it and applying it to what you do. So hard work and passion since they are within your control you should apply them to earn your own luck and to help us foster a better and more prosperous world. The world is in dire need of leaders, our community is in dire need of leaders, and humanity is also in dire need of leaders and those leaders can be you, the graduands.

So rise from today enter the new world and play your own role in creating a more prosperous society.

Thank you.”

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Let us be frank. The Africans who bear the harshest effects of the climate crisis are those least responsible for creating this crisis in the first place.

This month’s Cop27 climate negotiations in Egypt were being called “Africa’s Cop”, a recognition of the daily impact of the climate crisis on communities across the continent.

The question is whether climate negotiators used this opportunity to address the urgent, immediate needs of African communities around food security, adaptation and access to climate financing.

We are already seeing how the climate crisis is negatively impacting food security and economic livelihoods tied to food production. Africa is home to 60 per cent of the world’s agricultural land and the majority of the population are smallholder farmers. While Africa has the potential to be an agricultural powerhouse, the continent’s rain-fed agricultural focus creates unique vulnerability. And as one of the most climate-affected parts of the world, immediate action from the international community is required.

The impending famine in east Africa is a devastating example. Today, the region faces its longest-running drought in 40 years. Thousands of people have already died. As many as 36 million lives are affected, across Ethiopia, Kenya and Somalia. This is a story of political and international failure.

And let us be frank. The Africans who bear the harshest effects of the climate crisis are those least responsible for creating this crisis in the first place. The continent contributed a total of 3.8 per cent of global greenhouse gas emissions in 2020. Somalia, at the epicentre of the hunger crisis in east Africa, only contributed 0.002 per cent of emissions over the past 250 years.

Following Cop27, it is clear that we need more action on the climate crisis and the inclusion of the world’s most affected in climate solutions.

After the meetings, the impact of climate change on people, livelihoods and communities must remain front and centre. Failure to address climate inequity will result in growing economic disparities for countries in Africa. The continent’s rising debt is expected to reach close to 70 per cent GDP, up from 58 per cent as of 2019.

The first critical action for world leaders is ensuring these communities have access to climate financing.

Currently, Africa receives less than 4 per cent of global climate finance – most of which is made as loans, not grants – and burdens the countries with debt. To bridge the energy inequality that exists between Africa and the rest of the world, the continent must prioritise investments in the provision of traditional and renewable energy for Africans. Green energy transition must allow room for Africa to sustain its economic growth.

Furthermore, for the millions who live with the present effects of extreme weather, major donors must focus on devoting at least 50 per cent of the climate finance commitment to adaptation. Climate-resilient agriculture, for example, would help to support rural communities through climate shocks. Progress, transparency and time-bound tracking of climate finance commitments, bringing international finance on adaptation onto an even footing with mitigation, is central to addressing the climate crisis.

Secondly, green entrepreneurship and agripreneurship play critical roles in driving innovative solutions to environmental issues. It is crucial to invest in the people behind these ventures to attain climate equity on the micro level. There are bottom-up solutions that must be pursued.

Local entrepreneurs have the power to affect change through their actions or inactions. To empower and further their focus on sustainability, the Tony Elumelu Foundation mentors and provides $5,000 (£4,200) seed capital towards sustainable businesses across the 54 countries in Africa. More than 1,500 of these entrepreneurs run small businesses addressing environmental issues, in sectors ranging from energy and power generation to waste management.

Over a million Foundation participants are being encouraged to create businesses that incorporate sustainability into their practices. And, to empower youth and grow the demand for and availability of solar power in Ivory Coast, an International Rescue Committee (IRC) programme is building skills and supporting access to employment in the renewable energy sector.

With 22 per cent of working-age Africans already starting businesses and contributing to the economic growth of the continent, according to the African Development Bank, these businesses have the power to serve as agents of a sustainable revolution.

Third, to break the cycle of hunger and famine, long-term, flexible programmes that strengthen livelihoods and resilience at the earliest warning signs of drought are needed to prevent, recover and rebuild.

Supported by Google, the IRC is piloting a project in Nigeria that aims to improve smallholder farmers’ ability to weather climate stress and shocks and build sustainable agricultural livelihoods. To achieve this, the IRC is testing the effectiveness of providing advanced cash transfers, triggered by an innovative data platform that predicts climate risks in these communities.

In the Central African Republic, the IRC and partner organisations are implementing a Forest Garden Approach to help vulnerable smallholder farmers to increase their own food security, generate sustainable income and revitalise degraded natural resources.

Investing in resilient livelihoods will not only reduce personal vulnerabilities to climate stress and shocks. It will also foster economic growth in green jobs and greener economies, which holds the potential to mitigate future crises, conflict and migration.

There is no time to wait for climate action in Africa. Too many lives and livelihoods are already at risk in east Africa and beyond to delay bold and visionary investment and leadership any further.

David Miliband is president and CEO of the International Rescue Committee. Tony Elumelu is chairman of the United Bank for Africa and founder of the Tony Elumelu Foundation.

Source: Independent.co.uk

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A: I’m doing great, thank you. 

Q: So, what has been the highlight of your day because I know you’ve been in a lot of meetings today?

A: UNGA 2022 has been very exciting in so many ways, for us as a group, the Tony Elumelu Foundation, we’ve been able to consummate two significant partnerships. We live in Africa, we see poverty, we see how our people are suffering, we see the energy of our youths (our young ones), we see their ambition, we see their aspirations to make a difference; but access to capital is always a problem for these young ones, and for us at the Tony Elumelu Foundation, we are trying to catalyse luck, we are trying to catalyse entrepreneurship across the continent. But we understand that we can’t do it alone.

Personally, I’m an exemplar of success in Africa. I come from a modest background, I’ve built multi-national businesses, but I realize that we need more Tony Elumelu’s in Africa, and for this to happen, we need to increase our capacity to empower young ones. The Tony Elumelu Foundation alone cannot do this, so we have tried to reach out to like-minded development agencies, governments, individuals, institutions, to partner with us so that we can scale what we know how to do, what we know works through what we have done at the Tony Elumelu Foundation; and happily, at this UNGA 22, we found two partnerships; one with the American Foundation for Africa development, and two, with the UN Agency for capital. So, we’ve signed partnerships with UNCDF, and USADF to scale what we do at the Tony Elumelu Foundation.  So, to me, it’s a wonderful time for us as a Foundation because the success of young Africans is our preoccupation. So, we’re happy that we can now do more in partnership with this and existing partners we already have.  

Q: So, let’s look at job creation in Africa and youth entrepreneurship because I know that it’s one of your fortes, how do you feel about it? How can governments create jobs for the youth? And encourage the youth to engage in entrepreneurship? 

A: I have often said that youth unemployment is a tragic waste of our talent. It’s a betrayal of a generation, and I know that one sure way of creating employment for our people is by encouraging entrepreneurship amongst our young ones. I live in Africa, I see the harsh impact of youth unemployment, and I know that as an African leader, we must do something about it. The time is ticking so fast. I know from my experience with in interacting with these young Africans, they feel highly betrayed, and we as African leaders, friends of Africa, political leaders in Africa, and the world at large must do something quickly so that all of us will have peace. To me, it has become an existential issue. It’s something we must do for our own enlightened self-interest. These guys, very energetic, we either channel their energy positively, or they use their energy in a negative way; and that will be disastrous, and that will be difficult for us to contain.

We can do less now than what we can do in the future if we fail to do what we can do right now. So I believe that entrepreneurship presents the way forward and that is why the Tony Elumelu Foundation will do it. We have trained over 1.2 million young Africans, we’ve provided seed capital of non-refundable $5000 dollars each to more than 16,000 young Africans. Through their works, we’ve created about 400,000 jobs on the continent. This is what we need to scale up. And this space, we don’t want to be in this space alone, we want others to come to this space, and that is why when I told you before, I was happy with UNCDF and USADF who have signed the partnership that we have signed. Plus the existing ones with the European Union and the UNDP, International Red Cross, you know these are great partnerships helping to catalyze more entrepreneurship on our continent so that collectively, we can deal with this issue of unemployment, and also Google has come into the space too. 

Q: But what about governments across Africa? 

A: I believe that governments in Africa can do more. I think our governments pay a lot of lip service to the issue and importance and relevance and the future of our continent as it relates to our young ones. The future of Africa truly belongs to the young ones. Their success is our success, and we must see success, modifying success, through that prism, that the success of the young ones, if they succeed, we know that Africa is succeeding and we succeed further. Our government must create an enabling environment. At the Tony Elumelu Foundation, I told you before, we funded over 16,000 young African entrepreneurs, but what is important is creating the enabling environment that will allow and support these young Africans with the seed capital we’ve given them, with the mentorship we’ve provided them, with the business education and training we’ve given them to succeed.

If you’re an entrepreneur, a small-scale entrepreneur and you don’t have access to electricity, please tell me, what can you do with $5000? So government must do something, and government must put in place policies that support our young ones. You know for me, I feel so bad about this and truly so because it seems to me that we miss the point most times, how do we move out of poverty if we cannot empower the young ones; and empowering them like I said is not about the capital we provide, its about creating the ecosystem, the enabling environment that will enable them to succeed. So I look forward to all of us embracing this and I think that this should be the preoccupation of one of the things the AU should focus on.

Youth empowerment, security issues; those two to a large extent will help us, and knowing that for youths to be economically empowered and to succeed, the infrastructure that we need, access to electricity and power is so critical. Stifling policies must be removed, tax reforms that support the young entrepreneurs must be put in place, incentive system to shape the right behaviour must be put in place; and for those of us in the private sector who have succeeded, we must realize that our success is nothing if we go alone. We need to carry others along so they become even more successful than us, so that collectively, we create a commonwealth system that makes it difficult for anyone that wants to destroy because we are all stakeholders. People want to destroy when they feel that it’s true that they are marginalized and so we would need to go together on this journey.  

Q: Let’s look at climate change and the agenda for Africa. A lot of African leaders here at the UN General Assembly have been hammering on that because they say their economies have been impacted or negatively impacted by the effect of climate change. What’s your take on that? 

A: My take is this; first our contribution to climate problem in the world is almost insignificant compared to the rest of the world. Less than 2% of the carbon emissions come from Africa. But we disproportionately suffer the brunt of climate change and that is a major concern and then the world goes on and on, and I believe we need to do something about it and expecting Africa to come on board as quickly as possible and I encourage our leaders to do so. However, what I expect and as we go to COP27 in Egypt, I would like African leaders to come together and speak with one voice. We have not caused this situation but we bear the brunt of it, and I see it firsthand because I live in Africa. Nigeria floods now. In fact, in a Guardian report yesterday, almost 400 people’s lives lost as a result of of the flooding that just occurred. The Lake Chad basin that cuts between the Sahel region and the Savannah region of Africa is drying up and the extremism that we have in the Sahel region today is traceable to that. So we indeed are bearing and feeling the impact of this climate change so we must do something as members of the world.

But what I say is that there should be a deal that recognizes that 1) Africa’s energy transition requires a lot of capital and that Africa does not have that capital. Africa is battling from the Covid pandemic and Africa has a lot of hospital, healthcare issues, access to electricity issues, poverty issues and any transition costs a lot. So my call is let us come together and realize that there is a need for a deal that supports Africa to go through that transition, 2) There is also a need for an accommodation in terms of policies that recognizes the abundance of certain natural resources in Africa, and the fact that we need a combination of renewables and traditional energy sources for the short term to move Africa forward. So, this to me are two major points I believe in. I support climate change, I support the energy transition, but we need massive capital support to go through that and 3) We need to make sure that in the short term, that Africa is supported to approach it by combination of renewable and traditional sources of energy.  

Q: Talking about massive financial support this is Africa yet again going to wealthy nations cup in hand begging to be saved from the effects of climate change and that the wealthier nations do not necessarily owe anything to Africa to support them. 

A: From multinationalism to going alone and we have seen that we live in a global world we cannot go it alone. Advanced countries need the support of everyone. The less developed countries need the support of the more developed countries. We need to work together as members of the global community to address these issues. Climate change affects everyone, a problem anywhere is a problem everywhere. If there is a flood, if there is the drying up of the lake Chad basin creating extremism or migration of people out of Africa it is affecting people in places around the world. The truth is that food security is affecting everyone and we should come together to address these issues. Carbon emission in the west is about 17%.

And carbon emission on the continent is about 2%. So, people are saying there should be a form of energy reparation here to come and compensate us for creating the climate situation. So, I think for me our state men should rise and put some of this criticism behind. It is not time for criticism. One, climate change or climate disaster is real. Tow the solution is that we need to change our ways as members of the world three Africa is part of this and we need to join hands in making this possible. 

However, Africa needs capital support because that transition is huge. Also, we must recognise that renewable alone cannot take us to where we are going. Over 60% of Africans do not have access to electricity today. We are not talking of a switch first there is a deficit we need to bridge that gap and then switch the good thing is we cannot leapfrog because leapfrog requires capital. 

Q: Mr. Elumelu do you think African countries are doing enough to cushion the effect of climate change on their respective citizens in their countries?  

A: I think that first there is a realisation that there is a need to transition that to me is a positive development. Some people did not believe in covid but now people agree that climate change is real. But how are different countries responding to it that is a function of resources available to those countries? Let me tell you what we do at the Tony Elumelu Foundation.

The Tony Elumelu Foundation supports young entrepreneurs to grow. We had a long retreat on this and we came up with the conclusion that people that cause this climate disaster are the private sector to a large extent so we need to instill a new way of doing things to the private sector, let’s capture them young let us cultivate in their mind the need to be more climate-focused. So we can sustain it. So what we try to do is introduce in the curriculum that climate consciousness. We need a secure climate feature for all of us. In everything you do, you business let them be businesses sensitive to climate issues. So I think for me the climate challenge does not call for blame as a world we have blamed one another for too long. It is so easy to blame the government or less developed countries. Our focus should be what can every one of us do.

As the private sector we should be more responsible we should encourage government and find ways to deal with existential crises. If you see what I am saying you would understand. So let’s come together and put resources together and do something. To me the window is closing fast on us the time to act is now if we don’t act now we are putting our future and our childrens future at stake. 

Q: Before we go, talk to me about what you think about the Africa US relationship in the 21st century

A: I think it has been defined or redefined by the Biden administration. A month ago they put out the US policy on Africa and before that we had Trump regime that in my viewpoint did not have any concrete strategy for Africa. Before that was Palmer who had Pan African trade with Africa. I think the US has created a huge void in the continent and they must rise to the expectations. And why do I say that? Most people love the US but they do not think that they are responsive enough on the issues. I speak when I come to the US it is time to engage in a more structured activity in Africa. Aid is good but there is a need for more strategic relations with Africa. There are often the complaints about China and the land grabbing and all the horrible things they said China is doing on the continent but we know how people think of china on the continent.

People think they come to our aid in terms of infrastructural development. America needs to e more active in areas of infrastructural development and more active in youth empowerment for Africa. I took this message to Washington in April this year but I am happy the partnership we signed is a result of that. So people are listening and Joe Biden just released his Africa strategy. And has conveyed the Africa leaders forum for December in Washington. So these are positive signs and indications and I hope it’s sustained. We need a new deal for Africa from the U.S we need a partnership. America’s influence in Africa is huge but I think Americans don’t understand that , every young African wants to behave like an American, speak like an American, and go to school in America. So there is this cultural tie people love America but is America there for us? Look at the Tony Elumelu Foundation the European Union supported over 3000 African Females, they gave 25 million dollars to support over 3000 African women. That s impactful all across the African continent.

So terms for assistance you can see it and you don’t have people taking out of the aid. We want to ensure that the thing that America is doing for the continent is gotten by those who truly need it. The young people the people in local communities who need this development and not the middlemen who divert this or earn by way of commission. I see a progressive forward-looking policy coming and our Foundation is happy that we are at the table negotiating this at the white house. America has done well during covid America helped a lot but there is still a lot to do. Luckily, we also have some Africans who have a bit of resource and want to partner with American organisations.

The Tony Elumelu Foundation through our family has put in 100 million dollars so every year we empower a thousand African entrepreneurs. It is a 10 year program and we want to see others come together to do more. We are seeing moves and we are saying in the 21st century there is a better way of giving in Africa. A more catalytic way of giving a more strategic way that creates self-sufficiency, self reliance and does not keep people dependent on aid. 

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