It’s all about climate change and actions!
On Friday, September 23, 2022, TEF Founder, Mr. Tony O. Elumelu, C.O.N, CEO, Ifeyinwa Ugochukwu and TEF Director of Partnerships, Somachi Chris-Asoluka, held a series of bilateral meetings to further drive the importance and urgency of global investment in Africa for jobs creation, economic opportunities, climate responsibility, environmental sustainability, and poverty eradication.
The team met with Damilola Ogunbiyi, CEO and Special Representative of the UN Secretary-General for Sustainable Energy for All and Co-Chair of UN-Energy, for conversations around climate change and the current global focus on green and renewable energy. Africa’s focus is and should remain, providing energy from both traditional and green sources for its citizens, including energy sustainability and clean cooking for women. It was determined that Africa’s full transition green and renewable energy sources will require considerable investment, and this cannot be at the expense of the drive to urgently address the current energy deficit. Green energy transition must allow room for Africa to power its development and sustain its economic growth. Anything else will be potentially detrimental to all across the continent.
The team also met with Benedikt Sobotka CEO of Eurasian Resource Group (ERG) – The 2nd largest producer of cobalt in the world operating in 8 African countries, as well as Bogolo J. Kenewendo, Africa Director, UN High Level Climate Champion to discuss the increasing need for African voices on climate change, ahead of COP27 in Egypt.
“Africa must go to Cop 27 with one voice highlighting the importance and need for capital to fund the energy transition”, Mr. Elumelu said. “African governments must provide the enabling environment to promote climate change and incentivise the private sector to own these initiatives and begin implementation in their various organisations.”
The bi-lat meetings closed with a high-level session with President Adama Barrow of Gambia, where the party discussed ways in which the country’s government can work with the Foundation to empower even more young Gambians. The President expressed his deepest appreciation to the Tony Elumelu Foundation for empowering entrepreneurs in The Gambia and across Africa.
So far the Foundation has mentored, trained and disbursed nearly US $200,000 directly in seed capital to hundreds of Gambian entrepreneurs.
“We look forward to exploring investment opportunities in the Gambian financial sector with UBA, and hospitality sector with Transcorp Hotels PLC”
– Mr. Elumelu