The Sahel region has faced significant instability over the years, marked by socio-political unrest, economic challenges, and environmental crises. Countries such as Burkina Faso, Cameroun, Chad, Mali, Mauritania, Niger, and Nigeria have grappled with issues ranging from insurgencies and political upheaval to severe climate change impacts that exacerbate poverty and displacement. These challenges have stifled economic growth and hindered the potential of millions of young people, leaving them vulnerable and without opportunities for advancement. The volatile environment has created an urgent need for sustainable solutions that address both the immediate and long-term needs of the region’s youth.

In response to these pressing issues, the Tony Elumelu Foundation partnered with the United Nations Development Programme in 2019 to launch the TEF-UNDP Youth Entrepreneurship Programme with the aim of fostering entrepreneurial growth and economic resilience across the Sahel and Lake Chad region. This was a timely and necessary intervention, as this initiative sought to empower 100,000 young African entrepreneurs from Burkina Faso, Cameroun, Chad, Mali, Mauritania, Niger, and Nigeria over a decade, providing them with seed capital, business management training, and mentoring to transform informal business ventures into formal enterprises.

By prioritising African entrepreneurs as catalysts for economic development, the programme leveraged the Tony Elumelu Foundation’s proven approach to catalytic philanthropy, as well as its expertise and resources. This empowerment strategy not only aimed to alleviate the immediate economic hardships but also to foster a resilient and self-sustaining economic environment, transforming the lives of young entrepreneurs by equipping them with essential skills and financial support, uplifting local economies, and contributing to the stability and prosperity of the region.

Impact Assessment

To effectively measure the outcome of this intervention, the Tony Elumelu Foundation and the United Nations Development Programme engaged the services of independent auditing firm, Sages Consult Limited to research and publish an impact assessment that captures and highlights several significant outcomes, most important of which are:

1.              The programme demonstrated a positive influence at every stage of interaction, from application through to the distribution of seed capital. This inclusivity extended benefits beyond the selected entrepreneurs to all applicants, indicating broader community engagement and empowerment.

2.              Beneficiaries reported enduring improvements in their mindset, confidence, and business acumen, attributing these gains to the programme’s entrepreneurial training and financial support. Many entrepreneurs successfully transitioned from informal to formal business structures, leading to enhanced financial stability and increased profits.

3.              Notably, female entrepreneurs saw substantial improvements in financial metrics, especially those whose businesses surpassed $100 monthly revenue, suggesting a targeted approach for future scaling efforts.

Overall, the programme not only elevated individual entrepreneurs but also enriched the quality of life for their households, as evidenced by improved access to essential services like housing, healthcare, and education.

In conclusion, the 2019 TEF-UNDP Sahel Entrepreneurship Programme effectively fulfilled its objectives by catalysing sustainable development through entrepreneurship. The comprehensive evaluation underscores the programme’s success in fostering economic resilience and community prosperity across the Sahel region.

Download the Full TEF-UNDP SAHEL Assessment Report

For more detailed insights, you can download the full evaluation report here. This summary highlights how the TEF’s initiatives have positively impacted entrepreneurship in the Sahel region, showcasing effective support for sustainable development.

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• Tony Elumelu Foundation Hosts US Administration, WTO, UNDP, IFC, UNICEF, Rockefeller Foundation Leaders

• Champions equitable partnerships to catalyse a new generation of green entrepreneurs.

• Announces partnership to fund young African entrepreneurs in Green sector with Ikea Foundation, Dutch Government, and UNICEF Generation Unlimited.

• Secures commitments to support Africa’s youth to drive climate resilience from World Trade Organisation, World Bank, UNDP, Government of Sweden, IFC, US State Department, and others.

At a series of events across COP28, Tony Elumelu delivered a single message to world leaders:  Africa needs to be heard, Africa’s future is the world’s future and the continent that is most impacted by and the least contributor to climate change, needs our attention.  With African youth set to make up one third of global population later this century, the future of Africa’s youth, entrepreneurial, ambitious, resilient, needs to be given the highest priority.

The Tony Elumelu Foundation African Entrepreneurship Programme

Elumelu offered the infrastructure and experience of his own Foundation’s 10 year $100m entrepreneurship programme to partners, to catalyse a further generation of African entrepreneurs; entrepreneurs who can address climate change and drive the broader wealth creation that Africa requires.  Reaching and funding young entrepreneurs in every African country, the Elumelu approach of sector agnostic seed funding, mentoring, and networking has delivered robust impact.

The annual COP UN Climate Change Conferences unites the world to assess progress in combatting climate change.  Elumelu is one of Africa’s leading advocates for an equitable agenda for climate action and through the Tony Elumelu Foundation has empowered thousands of green entrepreneurs, shaping a more sustainable future for Africa.

The Tony Elumelu Foundation, in partnership with the United Bank for Africa (UBA), hosted a high-level session, bringing together Africans, and key players in the Gulf, Europe, and Americas, where UBA operates, underscoring the urgent need for innovative approaches to climate adaptation and mitigation, while fostering sustainable development, and bringing attention to Africa’s unique position.

Speakers included Dr. Okonjo Iweala, Director General, World Trade Organization; Ahunna Eziakonwa, Assistant Administrator and Regional Director for Africa, UNDP, Kevin Frey, CEO, UNICEF Generation Unlimited; Sergio Pimenta, VP Africa, IFC; Wendy Teleki, Head of the Women Entrepreneurs Financial Initiative, World Bank; Adam Wang-Levine, U.S. Deputy Assistant Secretary for Climate; Joseph Nganga, Vice President, Global Energy Alliance for People and Planet, Rockefeller Foundation; Hassan Al Hashemi, VP International Relations, Dubai Chambers; Serge Ekué, Chairman, West African Development Bank (BOAD); Muyiwa Akinyemi, Deputy Group Managing Director, United Bank for Africa; and Mattias Frumerie, Swedish Climate Ambassador and Head of Delegation, UNFCCC.

“Addressing climate change is the paramount challenge of our era.  The urgency is unmistakable.”  Elumelu stated.  “It is critical that Africa, as a continent, and African voices, play a key role in global climate conversations, as meaningful participants, and no longer as bystanders.  Africa is least responsible and is disproportionately impacted by climate change.  I am investing in a generation of green entrepreneurs, and we are extending the hand of partnership, so that others can benefit and use the infrastructure and platform we have created to reach entrepreneurs across Africa.”

Elumelu represented the African private sector at the 2023 New Global Financing Pact in Paris at the invitation of French President Emmanuel Macron, and the Climate Finance Mobilisation Forum in London, at the invitation of King Charles III of the United Kingdom and U.S. President Biden.  At the 78th United Nations General Assembly (UNGA78) in New York, the Tony Elumelu Foundation (TEF) launched a first-of-its-kind Green Entrepreneurship Programme, the #BeGreenAfrica Initiative, in partnership with the IKEA Foundation, Dutch Government and UNICEF GenU, to support green entrepreneurship and youth development.

Tony Elumelu Entrepreneur from Madagascar in the green economy, Marie-Christiana Kola, shared a compelling impact story.  “As a beneficiary of the Tony Elumelu Foundation Entrepreneurship programme, I was able to create a recycled and 100% biodegradable hand soap made with waste cooked oil – the number one water polluter of water in African urban cities.  These soaps do not only protect the environment, but they are also solidarity soaps.  I was also able to attend the COP27 conference in Egypt, where I won the Innovation Prize.  Today, I have employed over 30 people because of the Tony Elumelu Foundation.”

Speaking at the TEF #COP28 high-level event, Dr. Okonjo Iweala, DG, World Trade Organisation stated, “I am proud of what my brother, Tony Elumelu, has done in empowering and inspiring so many young entrepreneurs.  We have no choice; the future is green.  The future of growth is two things – it is green, and it must be inclusive. I am very interested in partnerships with organisations like TEF.”

Ahunna Eziakonwa, Assistant Administrator and Regional Director for Africa, UNDP added, “The reason why UNDP associated itself with the Tony Elumelu Foundation years ago is because of the leadership and courage of the Foundation to trust and invest in young Africans.  It was one of the first organisation to do so at that scale.”

TEF Partnering to impact young african entrepreneurs

The Foundation partnered with the UNDP to empower thousands in the Sahel, with an ambitious project to impact the lives one million young Africans.

Sergio Pimenta, VP, Africa at the IFC, also stated, “Tony, I salute you and your Foundation for what you have been doing to support young entrepreneurs in Africa. The IFC has deployed $2billion in funding for African SMEs in the last fiscal year and we are very excited to be able to do more, working with you.”

Kevin Frey, CEO UNICEF Generation Unlimited added, “With TEF, we have moved in a concerted way into the entrepreneurial space. Generation Unlimited now have a flagship programme with the Tony Elumelu Foundation called #BeGreenAfrica, launched in Kenya, and now with the support of the IKEA Foundation and the Dutch Government, we have scaled to Nigeria, Morocco, South Africa, and Senegal. We will train and seed 500 green entrepreneurs this year in the pilot project across those countries.  So Tony, thank you so much, you are right it is all about partnerships.”

Wendy Teleki, Head of the Women Entrepreneurs Financial Initiative at the World Bank, announced, “Our women-focused initiative has been able to secure $3.6 billion to finance women entrepreneurs in 67 countries across the world, and is set to launch a new programme focused on financing African women entrepreneurs to drive the continent’s green energy transition, and we are keen to work with the Tony Elumelu Foundation.”

Mattias Frumerie, Swedish Climate Ambassador and Head of UNFCCC Delegation stated, “My Government and I commend the Tony Elumelu Foundation’s incredible impact across Africa, and will facilitate connections between the Tony Elumelu Foundation, and the Swedish embassies across Africa to drive innovation, digitalisation, and green-energy transition, which promises to bring about new jobs and growth.”

Adam Wang-Levine, U.S. Deputy Assistant Secretary for Climate, added” Before coming to the United States Treasury, I was working in venture capital, and I know first-hand that it is incredibly important what the Tony Elumelu Foundation is doing. I have seen two pillars of their work – financing and the mentorship – just as I have seen with Silicon Valley, which helps to drive innovation and jobs creation. We are excited to begin partnership conversations.”

Muyiwa Akinyemi, Deputy GMD, United Bank for Africa, announced, “For us, UBA, we give market access into 20 geographies in Africa.  Everything that we do is around Africa, and that is why we have partnered with the Afrexim Bank to launch the $6billion fund for SMEs with a focus on import substitution, working in four key areas including climate emission reduction.”

Earlier in the day, Tony Elumelu joined Ajay Banga, President of World Bank Group; Brian Moynihan, Chair of the Board and CEO of Bank of America; Ms. Ruth Porat, President, Alphabet and Google; and Ms. Laurene Powell Jobs, Founder & President of Emerson Collective as a panelist in a session titled “Big, Audacious and Green: A Convergence of Visionaries”, moderated by Børge Brende, President of World Economic Forum.

On Sunday December 3 Mr. Tony Elumelu, also participated in a fireside conversation with Ms. Teresa Ribera, Vice President of the Government of Spain and Minister for Ecological Transition and Demographic Change, moderated by Sec. Hillary Rodham Clinton, and with closing remarks from Dr. Tedros Adhanom Ghebreyesus, Director-General, World Health Organization.

About the Tony Elumelu Foundation:

The Tony Elumelu Foundation is the leading philanthropy empowering a new generation of African entrepreneurs, driving poverty eradication, catalysing job creation in all 54 African countries, and ensuring inclusive economic empowerment. Since the launch of the TEF Entrepreneurship Programme in 2015, the Foundation has connected 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.

Contact Information:

Moyo Awotile

Head, Marketing & Corporate Communications, Tony Elumelu Foundation

Email: moyo.awotile@tonyelumelufoundation.org

Phone: +234 809 975 1482

The post Tony Elumelu Convenes Global Leaders And Calls for Immediate Climate Action for Africa at COP28 in Dubai appeared first on The Tony Elumelu Foundation.

The roundtable will bring together a powerful group, distinguished by their commitment to creating substantive momentum in addressing climate change, and united with the Tony Elumelu Foundation’s mission to empower a new generation of young African entrepreneurs.

The TEF-UBA roundtable will address delegates and also the largest community of young entrepreneurs across Africa, our programme alumni and network. Africa is the continent that contributes least to climate change and is impacted most. Catalysing a new generation of young Africans, not only represents equity, but it is also a critical path in tackling climate change.

The Tony Elumelu Foundation and the United Bank for Africa (UBA) are pleased to share this unique opportunity to present our vision of the role that young Africans can play in combatting climate change to an audience of global leaders, policymakers, and young African entrepreneurs.

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I am an African, born and bred in Africa and I have done business in Africa. And I have come to see firsthand the level of poverty on the continent. I have come to see the energy, the youth, the aspiration of our young ones.

Africa is a continent of about 1.4 billion people and the average age is 20 years old. Yet, joblessness remains an issue, lack of access to economic opportunities, lack of access to health care, and so from my own life story, I realise that in Africa, the private sector has a key role to play in developing the continent, and this role is not relegated to one person, or the government alone. We should not have an entitlement mentality that someone one will come and develop the continent for us.

So through the Tony Elumelu Foundation, we actively engage/ involve young Africans by getting the African private sector to work together to prioritise our young ones, get the government to create an enabling environment, and hence the philosophy of Africapitalism, which states that in the 21^st century, first, no one but us can develop Africa; second, we need all hands on deck in developing Africa; three, we need to prioritise the young ones to whom the future of Africa belongs to. And most importantly, as private sector players, the realisation that it is not the money that we have in our bank account that matters, but how we are able to deploy the capital we have in creating economic opportunities and prosperity for our young ones, and so Africapitalism is a call on the private sector to invest long term in critical sectors of the African economy that have the potential for transforming and catalysing economic empowerment and prosperity on the continent, so that at the end of the day, we all go far and go together, and no one is left behind.

Embedded in it is the philosophy of inclusive growth, equality – empowering young men and particularly our women who have been left behind for a long time and realising that our government must play their own role in catalysing the opportunities that will enable the private sector to take off, and working also with philanthropic organisations in and outside of Africa to develop the continent.

One of the reasons that Africapitalism has been accepted and is being practiced by quite a number of people is because we don’t just preach, we don’t just theorise, we practice. So, in our Group we have Transcorp, which is the largest electricity generating company in Nigeria today. Transcorp has a combined electricity generating capacity of 2000MW, so to the ordinary eye, that is an economic investment that yields profit for the investors, but more importantly, we all know that access to electricity is the single most critical factor that we need to fix if we must develop Africa, as it is needed for businesses, schools, and hospitals to run. This is Africapitalism in action; making profit to help the economy, while simultaneously investing in critical sectors that can transform the society. We need massive investment in electricity across the African continent, not just for profitability but also to remedy the challenges that restrain the continent’s development.

We need to wire our infrastructure in a way that encourages intra-African trade. We need to produce what our people need. We need to create a bigger market for everyone of us, and that is why we support this new movement by the AfCFTA to create the world’s largest market linkage in Africa. But more importantly, we need to empower the young generation of Africans to be able to create what Africans need. As the philosophy of Africapitalism infers, we must realise that no one owes us our development – we as Africans must work hard to develop our continent. We must show that in this 21^st century, there Africans that are investors on the continent.

If we don’t show confidence in our continent, who else will show confidence in our continent? The realisation that what we seek today are the demographic dividends, i.e., the population. We have a huge population, and more importantly, the demography is very favourable – young people – that is a huge market for the world, huge favour for the world, but we need to catalyse it in a way that is positive, and not in a way that people become disenchanted with life and now begin to embrace migration or extremism. That is another call that I always make to African leaders, friends of Africa, and I am happy to be in the Kingdom of Saudi Arabia because this is an opportunity to take the message to the world.

Africa is ready for investments; Africa is a land of opportunities. We have challenges, but despite that, the opportunities are huge, and people should take advantage of the opportunities. We need a marshal plan for Africa. We need to mobilise huge long-term capital into the continent, to enable us leapfrog and fix the infrastructure that we need to develop.

The post Our Founder, Mr. Tony O. Elumelu’s Remarks from his fireside chat with Richard Attias, CEO FII Institute, on ‘How Africapitalism drives Inclusive Growth’ appeared first on The Tony Elumelu Foundation.

In 2021, The Tony Elumelu Foundation partnered with the European Union to identify, train, mentor and fund 2,500 young African women entrepreneurs.  The partnership disbursed €20 million in financial and technical support for women-owned businesses, across all 54 African countries, in addition to providing increased access to market linkages, supply chains and venture capital investments.  

The partnership not only significantly strengthened and deepened the EU-Africa relations, but it also built on the transformative approach of the US$100m Tony Elumelu Foundation Entrepreneurship Programme, and formed part of the EU External Investment Plan to support women economic empowerment within the EU Gender Action Plan (GAP III). 

During the event, Tony O. Elumelu C.F.R., Founder of the Tony Elumelu Foundation, and the EU Commissioner for International Partnerships, Jutta Urpilainen, expressed their delight in reflecting on the resounding success achieved through the TEF-EU partnership, and the accomplishments of the young African women entrepreneurs who have thrived under their mentorship and support. 

Mr. Elumelu and Commissioner Urpilainen expressed their enthusiasm about the future of the Tony Elumelu Foundation’s collaboration with the European Union. Both leaders underscored their commitment to fostering entrepreneurship, innovation, and economic development in Africa, paving the way for a prosperous future for the continent. 

Speaking at the event, Mr. Tony O. Elumelu said, “I speak for every young African entrepreneur when I say thank you [to the European Union] and welcome to Africa. Together, the Tony Elumelu Foundation and the European Union have economically empowerment thousands of women entrepreneurs across the continent, supporting each of them with a non-refundable seed capital of $5,000, because they share our belief that prosperity anywhere is good for all of us, and poverty anywhere is a threat to all of us everywhere.  This partnership has exemplified the transformative impact that can be achieved when like-minded organizations join forces to empower the next generation of African entrepreneurs. Together with the European Union, we have unlocked immense potential, enabling young women entrepreneurs to contribute meaningfully to Africa’s economic growth”. 

Commissioner Jutta Urpilainen remarked, “It is great to have this opportunity to hear the impressive stories of We’ve heard the impressive results and stories of beneficiaries of the Tony Elumelu Foundation’s inclusive support programmes, backed also by the European Union. When I was appointed as the EU Commission of International Partnerships 2019, I had an objective, I really wanted to change the paradigm. The paradigm of our partnership with Africa, I wanted to get rid of the existing donor-recipient relationship, where donors tell and impose their expectations on Africans. We look forward to changing the paradigm and creating mutually beneficial partnerships and equal partnerships. ” 

As the Tony Elumelu Foundation and the European Union continue their collaborative efforts, they remain dedicated to empowering entrepreneurs, driving innovation, and catalyzing positive change across the African continent. The partnership stands as a beacon of hope, inspiring future generations and demonstrating the immense possibilities that arise when organizations unite to uplift communities. 

The Tony Elumelu Foundation is the leading philanthropy empowering a new generation of African entrepreneurs, driving poverty eradication, catalysing job creation across all 54 African countries, and increasing women economic empowerment. 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. 

Read the Tony Elumelu Foundation’s recently launched impact report here.  

For media inquiries, please contact:  

Moyo Awotile; Moyo.awotile@tonyelumelufoundation.org; 08099751482 

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The Power of Entrepreneurship:

Entrepreneurship is a force that can unlock immense potential in Africa. With the continent’s youthful population (about 60%), fostering entrepreneurial endeavors amongst the youth has the potential to significantly create jobs, address pressing social issues, and ensure Africa’s economic development. However, the journey from a business idea to a thriving business is fraught with challenges, and entrepreneurs need the right tools and resources to navigate this complex terrain successfully.

The Need for Business Management Training:

While passion and creativity are essential for entrepreneurship, they must be complemented by strong business acumen, and this is where business management training becomes crucial. Entrepreneurs must understand financial management, marketing strategies, operations management, and other critical aspects of running a business. They need to develop competencies in problem-solving, leadership, and decision-making to overcome obstacles and seize opportunities effectively.

The TEF Entrepreneurship Programme Business Management Training on TEFConnect:

Through TEFConnect, the Tony Elumelu Foundation’s digital platform, African entrepreneurs can access a comprehensive Business Management Training that covers various aspects of entrepreneurship. This training is designed to empower young African entrepreneurs with the knowledge and tools needed to build and scale sustainable businesses.

The TEF Entrepreneurship Programme Business Management Training covers:

• Financial Management Modules: Entrepreneurs learn to develop budgets, manage cash flow, and make sound financial decisions. This financial literacy is fundamental for the long-term viability of their ventures.
• Marketing and Sales Modules: Understanding customer behavior, market trends, and effective sales strategies is vital for reaching target audiences and driving revenue growth.
• Operations and Efficiency Modules: Entrepreneurs discover how to optimize their operations for efficiency, quality, and scalability. Streamlining processes can lead to cost savings and improved productivity.
• Leadership and Team Management Modules: Leadership skills are honed, enabling entrepreneurs to inspire and lead their teams effectively, fostering a positive work environment, and achieving common goals.
• Problem-Solving and Decision-Making Modules: The training equips entrepreneurs with problem-solving techniques and decision-making frameworks that are essential for overcoming obstacles and making informed choices.

Impact and Success Stories:

The impact of The Tony Elumelu Foundation Entrepreneurship Programme Business Management Training is reflected in the success stories of numerous Tony Elumelu Entrepreneurs who have transformed their ideas into thriving businesses. These entrepreneurs credit their ability to navigate challenges and seize opportunities to the knowledge gained through the training. Their businesses are not only creating jobs but also contributing to their communities and countries’ economic development.

In line with the TEF Founder, Tony O. Elumelu’s economic philosophy of “Africapitalism”, the Foundation’s approach focuses on driving economic prosperity as well as social wealth, by ensuring that African entrepreneurs are not just successful business leaders but also responsible, impactful, and transformative forces within their communities and beyond. The future of Africa is in the hands of its youth, and by training, mentoring, and providing them with access to networks and opportunities, we are nurturing a generation of visionary entrepreneurs who will lead Africa to new heights of growth and development.

The post The Role of Business Management Training in Entrepreneurial Success: Equipping African Youth for the Future appeared first on The Tony Elumelu Foundation.

As we celebrate another year of independence, it is time to reflect, to look in the mirror, for our nation and ourselves.

We know Nigeria, we love Nigeria, Nigeria is one of Africa’s most diverse and dynamic countries.  We are a nation that excites, beguiles, and dreams.  Yet, amidst our diversity and that potential that we all feel, we have faced so many challenges.  These challenges ask us to answer a fundamental question:  What is our collective responsibility in nation-building?

The destiny of Nigeria lies firmly in the hands of its people – you and me.  I am an optimist and I believe strongly in the potential of our nation.  We must work together to create the progress we so desire through innovation, and with unity in diversity.

In August, I spoke to the Nigerian Bar Association Annual General Conference in Abuja.  At the time of a new administration – and without doubt some of our toughest times economically, I spoke about our collective responsibility as Nigerians, and what we must do to foster nation-building.

My prescription, my advice, my philosophy is simple:

1. Unity

We must set our differences aside and be united with one ambition, and one duty – nation-building.  Whatever our backgrounds, geographies, religions, and experiences let us ensure that our country experiences a true renaissance.

• Celebrate our Global Success

We know the potential of Nigeria.

We know the resources, human and natural, that Nigeria has at her disposal. We must learn to champion the successes of Nigerians globally – in international leadership positions at the WTO, at the UN, at the African Development Bank, at the Afreximbank, in technology, in music and entertainment, in business, in arts and in media, in film, in sports.

We see these replicated at home – what we need to do is unleash our potential, create that enabling environment in Nigeria.

• Business Excellence

The Nigerian private sector is showing globally our capability, our ingenuity, our institutionalisation. We have global businesses with Nigerian origins. For instance – UBA, the United Bank for Africa, the only African Bank that operates in the USA, as a deposit-taking bank. We are now in Dubai, Paris, and London – and just as importantly 20 other countries in Africa. Who would have thought 20 years ago, that Nigeria would be home to Africa’s global bank!

The private sector must continue to surpass its own achievements and continue to put Nigeria on the map.

• Shared Responsibility

Nation-building is a call to arms – a vital task – a necessity.

At its core, nation-building is the intricate process of forging a cohesive, harmonious, and united society, out of diverse individuals, cultures, and ideologies.  It is the art of constructing a shared identity.

Transforming Nigeria is a journey that demands our collective dedication, building across political affiliations, ethnic differences, and socioeconomic differences.

One that is not the responsibility of our government alone. Great nations start with great people, not just great leaders.

• A Shared Ambition Across Our Society

Our private sector, our philanthropies, our civil society, all citizens must be brought together and be empowered – as real, valued and executing partners for this national renewal, this nation building.

• Love For Country

Let Nigeria be at the centre of our hearts. Let us invest in the brand Nigeria.

We have no other place, no other motherland than Nigeria. We must begin to show and share a sense of pride in Nigeria.  We must begin to rekindle our hope and have confidence in Nigeria and in our leaders. Let us be proud of Nigeria.

The responsibility of nation-building falls upon each and every one of us.  To truly build a strong and prosperous nation, we must be more conscious and dedicated in our efforts.

Let us be inspired by the lessons of history, motivated by the sacrifices of our forefathers, guided by the wisdom of our elders, and energised by the aspirations of our youth.

Together, we can build a nation we can all be proud of.

Celebrate 63!

#TOEWay

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Background

The Tony Elumelu Foundation (TEF) is the leading philanthropy empowering a new generation of African entrepreneurs, driving poverty eradication, catalyzing job creation across all 54 African countries, and increasing women economic empowerment. 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 Foundations aims to:

• Promote entrepreneurship development in Africa with a focus on startups and existing MSMEs (Micro Small and Medium Enterprises).
• Provide entrepreneurship skills training to startups and emerging African entrepreneurs.
• Deliver Business Development Services (BDS) necessary for startups and existing MSMEs across Africa for growth and diversification.
• Promote innovation, mentoring, technology development, networks, and market linkages among African Entrepreneurs.
• Undertake initiatives that promote access to affordable credit, working capital, guarantees, and other financial services suitable for startups and small businesses in Africa.
• Advance policy advocacy by facilitating partnerships with state and non-state actors to improve the operating business environment for local enterprises’ development in Africa.
• Setting up systematic monitoring and evaluation of the impact on African Entrepreneurs.
• Engage private sector leaders, corporations, and businesses to support the development of African entrepreneurs.

The TEF Entrepreneurship Programme directly addresses some of the most endemic challenges to African start-ups through a 4-step process:

• An online toolkit– The TEF Entrepreneurship Programme provides access to TEF’s proprietary online Start-up Toolkit training, which is comprehensive, practical training that equips entrepreneurs with resources on financial planning, market analysis, product marketing, business management skills, and many more. Over a period of 8 weeks, the entrepreneurs are assigned training modules with assignments that are completed with dedicated mentors. A weekly webinar is held by TEF to facilitate a deeper understanding of the principles covered and respond to questions. Interpretation in French, Portuguese and Arabic are available for non-English speaking entrepreneurs to follow the training as well.
• Mentoring– The TEF Entrepreneurship Programme matches mentors selected from all over the world with entrepreneurs to coach and guide them through the training window. The mentorship leverages online tools such as the TEFconnect platform, emails, social media, etc. Mentor selection and matching is carefully conducted to ensure alignment with the entrepreneurs’ goals and objective
• Business plan preparation and review– The TEF Entrepreneurship Programme further supports entrepreneurs that have been through the training to develop a business plan using a simplified template provided. After this, a business plan certification competitive process occurs to review, provide feedback, and refine the document to ensure feasibility.
• Seed capital investment– Upon certification of the business plan, the TEF Entrepreneurship Programme and its funding partner will provide a non- refundable seed capital investment of up to USD2,000 or its equivalent in local currency in a corporate bank account in the business name of the entrepreneur. A due diligence exercise is conducted in which the entrepreneur is required to fulfill certain compliance criteria before being eligible for the funding.

SCOPE of Work

1. Undertake a review of 396 submitted business plans from participants from 7 focus states of Lagos, FCT, Kano, Kaduna, Nasarawa, Niger, and Plateau to
   1. Establish the extent through which the entrepreneur has imbibed/utilized the key learnings from the TEF Business Management Training to advance their ideas/businesses.
   1. Determine the level of readiness (or otherwise) of the business with respect to receiving the non-returnable seed capital investment.
   1. Categorize all TEF EP entrepreneurs/businesses based on the degree of effort required by the entrepreneur for her business to be considered ready for the seed capital and select the top 220. [It is worthy to note that exceptional consideration will be given to 69 uniqueparticipants; the selected vendor will be informed of whom they are and why].

REVIEW CRITERIA

The criteria below should be used as the metric for review:

Methodology

• The provider will use the methodology/criteria listed above for the business plan reviews.
  • Recommendations should have a clear audience and be specific, accessible, and actionable.
  • Appendices should include a list of evaluators, evaluator(s) brief biography, and measured indicator metrics.

Ethical Considerations

It is expected that this business plan review will be ethically conducted. Proposals submitted should adhere to inclusion principles (i.e fair representation across all states for selected participants.) in the review.

In addition, the vendor is required to respect the following Ethical Principles1:

• Comprehensive and systematic inquiry: The consultant should make the most of the existing information and the full range of stakeholders available at the time of the review. He or she should communicate his or her methods and approaches accurately and in sufficient detail to allow others to understand, interpret and critique his or her work. He or she should make clear the limitations of the review and its results.
• Competence: The consultant should possess the abilities, skills, and experience appropriate to undertake the tasks proposed and should practice within the limits of his or her professional training and competence.
• Honesty and integrity: The consultant should be transparent with any conflict of interest, any change made in the negotiated project plan and the reasons why those changes were made, any risk that certain procedures or activities produce misleading review information.
• Respect for people: the firm respects the security, dignity, and self-worth of respondents and program participants. The consultant has the responsibility to be sensitive to and respect differences amongst participants in culture, religion, gender, disability, age, and ethnicity.

Quality Assurance and Management

All proposals will be reviewed and approved by TEF Team prior to acceptance and selection of the final vendor. The proposal detailing the proposed method and work plan is also to be approved by the TEF team.

Timeline

2 weeks (commencing on October 1, 2023)

Minimum Organizational Requirements

• Sound general organizational capacity and demonstrated ability to provide sound business plan review services.
• Have suitably qualified key experts for the provision of the services including experts in Business Strategy, Finance/Accounting experience, and Market Research.
• Experience in similar work with top tier organizations on similar programme or projects.

Criteria for Selection

Upon the advertisement of the RFP, a qualified Consultancy Firm is expected to submit the proposal with an inclusive commercial:

• Having received the highest score out of a pre-determined set of weighted technical and financial criteria specific to the solicitation. In this regard, the respective weight of the proposals are:

STANDARD TECHNICAL PROPOSAL EVALUATION CRITERIA

Confidentiality and PROPRIETARY Interests

The consultants shall not either during the term or after the termination of the assignment, disclose any proprietary or confidential information related to the project without prior written consent. Proprietary interests in all materials and documents prepared by the consultants under the assignment shall become and remain properties of the Tony Elumelu Foundation.

Annex

Annex I. Vendor Deliverables and timeline

Send your proposals to Tender@tonyelumelufoundation.org

The post CALL FOR PROPOSALS (RFP) – THE TONY ELUMELU FOUNDATION (BUSINESS PLAN REVIEW) appeared first on The Tony Elumelu Foundation.

Our Founder, Tony O. Elumelu, C.F.R. was invited to a special breakfast to launch the TIME 100 TALK, a new live event series that convenes leaders from every field to spotlight solutions to urgent global problems and encourage cross-disciplinary actions.

This special breakfast hosted by TIME100 on the sidelines of UNGA78, and themed Closing the Digital Divide: The Importance of Digital Equity, was hosted by Jess Sibley, CEO TIME and Hans Vestberg, Chairman and CEO, Verizon. 

The conversation centered around the importance of equal access to the same level of digital infrastructure and internet connectivity across the continent.

“I see first-hand the importance of digital connectivity, of access. I also see the negative impact of the digital divide that we have and every time I interact with my young children – I have an 8-year-old young son and he’s almost always playing on his iPad, he tells me everything about sports, he puts me on to so many things. But ladies and gentlemen, each time this happens in my conversations with him, I reflect, I think about those other young African kids who don’t have the kind of access my son has, and I think about the future and the digital divide we are creating. There is so much lack of connectivity on the continent and I am happy that TIME100 is taking this very seriously.”

Our Founder concluded his message by stressing the urgent need for equitable access to technology to create an inclusive digital future, where Africans can benefit from the transformative power of technology.

“I would like us to escalate this to the next level because this is one of those things that will continue to create the divide we have in societies. This is one of the things that can even lead to more extremism in the world. I see my son informed, I see others not so informed, it’s a cause for concern because what kind of world are we leaving for them? I am happy this is happening and I’m also happy that the US Government, I was recently approached by the US Vice President, Kamala that they want to set up a digital initiative in Africa and I welcome it. I think all of us in our own way should collaborate to make connectivity a little more accessible to everyone on the continent and elsewhere in the world where the lack of access exists. I think in doing so, we will play our role in catalysing prosperity, catalysing a safer, saner more inclusive society and one that all of us will be very proud of because poverty anywhere is a threat to all of us everywhere.”

The TEFCEO, Somachi Chris Asoluka also gave her remarks at the Clinton Global Initiative: Greenhouse Inclusive Economic Growth, whew she emphasized the importance of providing young African entrepreneurs with the funding, capacity building support and technical assistance they need to build profitable businesses.

“I’m here to advocate for young African Entrepreneurs, they deserve our attention, they deserve the spotlight, they deserve the capacity building support, the technical assistance and I think most importantly, the funding. So when we think about funding and investing in entrepreneurs, we shouldn’t just look to the West. Africa offers very exciting business opportunities, even more incredible results, and return on investments. It’s a decade for African entrepreneurs!”

The TEF CEO, Somachi Chris-Asoluka also took on the role of a judge, handpicking a winner from 10 social impact startups who are poised to receive a grant of US $25,000 at the session.

#TEF2023

#UNGA78

#TEFatUNGA

The post TEFATUNGA DAY 1: TEF ATTENDS THE 78TH UNITED NATIONS GENERAL ASSEMBLY appeared first on The Tony Elumelu Foundation.

Africa, often described as the “Cradle of Humanity,” is a continent teeming with untapped potential, diverse cultures, and a rich history. Over the years, it has faced a myriad of challenges, from political instability to economic disparities. However, one of its most promising aspects is its entrepreneurial spirit. African entrepreneurs have consistently demonstrated resilience, creativity, and a drive for change. In this modern era, innovation and technology are emerging as the twin catalysts that hold the key to unlocking Africa’s full potential for development, and the Tony Elumelu Foundation is at the fore line of this transformative journey. 

The African Entrepreneurship Landscape 

Entrepreneurship has always been deeply ingrained in the African way of life. Historically, African entrepreneurs have thrived in various sectors, from agriculture to trade. Today, in a rapidly evolving global landscape, African entrepreneurs are channelling their creativity and resourcefulness into profitable businesses driven by technology. These ventures are not only generating economic growth but also addressing critical societal issues. 

The Power of Innovation 

Innovation is the driving force behind the success of African entrepreneurs. It’s about finding novel solutions to age-old problems and leveraging technology to leapfrog traditional barriers. African entrepreneurs are trailblazers in sectors such as fintech, healthtech, agritech, and renewable energy, making significant strides in improving access to financial services, healthcare, and sustainable energy solutions. For instance, mobile banking services have revolutionised financial inclusion in Africa, bringing banking to the previously unbanked. 

Technology as an Enabler 

Technology has the potential to level the playing field for African entrepreneurs. With the widespread availability of smartphones and the internet, entrepreneurs are gaining access to global markets, networking opportunities, and cutting-edge knowledge. African startups are harnessing the power of data analytics, artificial intelligence, and blockchain to create solutions that cater to local needs while being competitive on a global scale. 

Key Areas of Impact 

To fully harness the potential of innovation and technology, African governments, businesses, and civil society must focus on several key areas: 

• Education and Skills Development: Africa must invest in education and skills development to equip its young population with the knowledge and capabilities needed to drive innovation and participate in the digital economy. 
• Infrastructure: Building and improving digital infrastructure, including reliable internet connectivity, is crucial for technology to reach all corners of the continent. 

• Entrepreneurship and Startups: Supporting entrepreneurship and providing resources for startups can catalyse innovation and job creation. Initiatives like the Tony Elumelu Foundation Entrepreneurship Programme are excellent examples of this. 
• Research and Development: Investment in research and development is essential for creating homegrown solutions to Africa’s unique challenges. 
• Regulatory Frameworks: Governments need to establish clear and supportive regulatory frameworks that encourage innovation while safeguarding consumers and businesses. 

Case Studies 

Several Tony Elumelu Entrepreneurs are making strides in leveraging innovation and technology for development. Some of these TEF alumni are: 

Yvette Ishimwe is the founder and CEO of IRIBA Water Group. She is a 2016 TEF alumna and one of the finalists at an international award targeted at Innovative African Business Leader. 

She started with treating nearby lake water with the ultraviolent water purifier at the age of nineteen. This has since grown to become a company that delivers cans of clean water by bicycle to hundreds of families I her community with a rapidly growing customer base. 

Her business was borne out of her difficulty in accessing clean water for home use when her family had just relocated from Kigali to Kayonza district. 

Haythem Dabbabi is a 2019 TEF Entrepreneur from Tunisia and founder of  Evocraft, an organisation helping young children and adults to become more familiar with STEM, robotics and software programming using fun non-traditional approaches. So far, they have taught and impacted over 200 children. 

Through the TEF’s coaching, they have been able to make significant changes to their business model and operations. This has also helped them to essentially expand to more schools and sell more robots everywhere.  

Their future plans include expanding more on the national territory, to reach more schools. 

Angele Messa is the founder of EduClick Africa, a job search engine (www.educlickcareers.com) established to encourage access to reputable education and decent job opportunities. 

Her business strategy aids in educating and guiding people to reach their full and true potential. EduClick Africa currently ranks as the largest job search engine in Cameroon. 

Through her business, Angele hopes to democratise access to decent jobs for all, regardless of their geography, educational background, and gender. By 2025, she wants to have assisted one million young people in finding respectable employment and possibilities through EduClick Careers. 

Mohamed Dhaoufi is a 2017 beneficiary of the Tony Elumelu Foundation Entrepreneurship Programme, and the founder of CURE, an organisation making tremendous impact in the lives of amputees and ensures that they can function adequately despite living in a world that is not built to accommodate them. 

The birthing of CURE was inspired by Mohamed’s friend’s cousin who had been born without upper limbs and could not afford prosthetics.  

He established two main programmes to help him achieve his goals; the development of personalized, 3D printed bionic hands and the provision of disruptive physical rehabilitation solutions to amputees who mostly live in rural areas and have limited resources using virtual reality. 

Bimpe Oni runs an eco-friendly company called D’Rose recycling that upcycles solid waste like old tyres, bottles, plastics into recycled furniture suitable for homes, offices, playgrounds, studios, etc.  

The company seeks to address the challenge posed by the tons of plastics and tyres which end up in the ocean on a yearly basis causing water pollution and which drive sea life into extinction.  

The Role of the Tony Elumelu Foundation 

The Tony Elumelu Foundation has emerged as a beacon of hope and support for African entrepreneurs. Through its programme and initiatives, it is fostering a culture of innovation and providing the necessary resources and mentorship to empower entrepreneurs to succeed. The Foundation’s commitment to identifying, training, mentoring and funding African entrepreneurs is a testament to its dedication to Africa’s development. 

Challenges and Opportunities 

Of course, there are challenges to overcome. Infrastructure deficits, access to finance, and regulatory barriers still exist in many parts of Africa. However, these challenges can also be seen as opportunities. Innovations in infrastructure, alternative financing models, and advocacy for policy changes are areas where African entrepreneurs, with the support of organizations like the Tony Elumelu Foundation, can make a significant impact. 

The Way Forward 

As we look ahead, it is imperative that Africa’s development narrative remains centered on innovation and technology. African entrepreneurs are not just job creators but also agents of change, driving sustainable development across the continent. Organizations, governments, and the private sector must continue to collaborate and invest in African entrepreneurship. By nurturing this vibrant ecosystem, we can harness the full potential of Africa and ensure a brighter future for generations to come. 

Innovation and technology are indeed the catalysts for Africa’s development, and African entrepreneurs are the driving force behind this transformative journey. The Tony Elumelu Foundation’s unwavering commitment to empowering these entrepreneurs is a beacon of hope for Africa’s future. As we celebrate their achievements, let us also recognize the immense potential that lies ahead and commit ourselves to supporting and nurturing African entrepreneurship to propel the continent to greater heights. 

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