The African Context

Africa stands at a crossroads, simultaneously facing challenges and opportunities. The continent’s rapid population growth, urbanization, and increased consumer demands, presents a promising environment for economic growth and development. However, this growth must be approached with a keen focus on sustainability, to avoid exacerbating environmental degradation and climate change.

Environmental sustainability is crucial for Africa’s long-term prosperity. The continent is blessed with abundant renewable resources, such as solar energy, wind power, and arable land. Leveraging these resources responsibly can create sustainable economic opportunities while minimizing negative environmental impacts. Africa’s vast biodiversity, including its unique ecosystems and wildlife, is a treasure that must be protected for future generations.

The Role of the Tony Elumelu Foundation

As the leading philanthropic organisation working to strike a balance between business profitability and environmental stewardship in Africa, the Tony Elumelu Foundation has embraced a holistic approach to foster entrepreneurship and sustainable development, supporting thousands of entrepreneurs through its flagship programme, the Tony Elumelu Foundation Entrepreneurship Programme (TEFEP).

Promoting Sustainable Entrepreneurship:

The Foundation promotes sustainable entrepreneurship as a powerful driver of economic growth and environmental conservation. Through its Entrepreneurship Programme, the Tony Elumelu Foundation identifies, trains, mentors, and funds entrepreneurs in all 54 countries across Africa, empowering them to build businesses that will generate revenue and positive environmental impact. By encouraging African entrepreneurs to adopt environmental responsibility in their business operations, TEF fulfils its commitment to contribute to the continent’s sustainable development agenda.

Fostering Green Innovation and Technology:

Having recognised the critical role that green innovation and technology play in addressing Africa’s sustainable development challenges, the Tony Elumelu Foundation makes concerted efforts to empower African entrepreneurs who are developing innovative solutions to environmental issues, through renewable energy, waste management, sustainable agriculture, and conservation. By nurturing these entrepreneurs and providing them with the necessary resources and networks, TEF is accelerating the adoption of sustainable technologies across various sectors.

Partnering for Sustained and Sustainable Development:

Through strategic collaboration with like-minded  organisations in the public, private and development sectors, the Tony Elumelu Foundation is actively contributing to the advancement of Africa’s sustainable development. The Foundation leverages its networks to strengthen the capacity of young African entrepreneurs, by creating a thriving ecosystem that supports environmentally responsible businesses. These collaborations form the basis of a sustainable development framework that prioritizes both profitability and environmental sustainability.

Creating Awareness and Advocacy:

The Tony Elumelu Foundation goes beyond direct entrepreneurship support by advocating for sustainable development at the regional and global levels. The Foundation engages in policy dialogues and knowledge sharing initiatives that drive the adoption of sustainable practices among policymakers, businesses, and communities. By raising awareness about the importance of balancing profitability and environmental sustainability, TEF reinforces the mindset amongst African entrepreneurs that encourages a collective effort towards a sustainable Africa.

Investing in Sustainable Initiatives:

As an embodiment of Africapitalism, Mr. Tony O. Elumelu (TEF founder)’s economic principle, and its guiding principles, the Tony Elumelu Foundation makes strategic long-term investments in sustainable initiatives that create broader economic value across Africa. The Foundation recognizes that sustainable development requires human and financial capital, and that impact investments play a crucial role in driving change. TEF’s digital proprietary platform, TEFConnect, provides access to Business Management Training to over 1.5million Africans who are collectively working towards sustainable development goals. These investments demonstrate the Foundation’s commitment to not just profitability, but also towards catalysing environmental responsibility to positively transform the economy and the environment.

By supporting greenpreneurship, fostering green innovation, engaging in strategic partnerships, advocating for sustainable practices, and making strategic investments, the Tony Elumelu Foundation is driving positive change across the continent, and paving the way for a new generation of environmentally conscious African entrepreneurs that will shape the continent’s future.

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The Tony Elumelu Foundation is committed to empowering African entrepreneurs through its flagship programme, the Tony Elumelu Foundation Entrepreneurship Programme (TEFEP). As part of its mission, the Foundation aims to promote sustainable business practices among African entrepreneurs and encourage them to adopt a more responsible approach to doing business. In this piece, we will go through these sustainable business practices, their significance to African entrepreneurs and how the Tony Elumelu Foundation supports entrepreneurs in this regard.

What are Sustainable Business Practices?

Sustainable business practices are  operations/activities that aim to minimize negative impacts on the environment, society, and the economy while maximizing positive impact. Sustainable businesses strive to operate in a way that meets the needs of the present without compromising the ability of future generations to meet their own needs.

Some examples of sustainable business practices include:

• Sustainable sourcing: Companies can ensure that the materials and products they use are sourced sustainably, minimizing negative impact on the environment and society.
• Social responsibility: Companies can adopt policies and practices that promote fair labour practices, human rights, and community development.
• Transparency and accountability: Companies can increase transparency and accountability by reporting on their environmental and social impact and engaging with stakeholders to address concerns.
• Energy-efficient operations: Companies can reduce their carbon footprint by adopting energy-efficient practices such as using renewable energy sources, improving building insulation, and implementing energy management systems.
• Waste reduction and recycling: Companies can reduce their impact on the environment by minimizing waste and implementing recycling programs.

Sustainable business practices are an essential part of creating a more resilient and equitable economy that benefits both businesses and society.

Why Sustainable Business Practices are Important:

Sustainable business practices are essential for the long-term success of any business, as they contribute to the economic, social, and environmental well-being of the communities in which they operate. Here are some of the reasons why sustainable business practices are crucial for African entrepreneurs:

• Increased Profitability: Sustainable business practices can help entrepreneurs reduce costs, increase efficiency, and create new revenue streams. By adopting sustainable practices, entrepreneurs can save energy, reduce waste, and improve their supply chain management, which can lead to increased profitability in the long run.
• Enhanced Reputation: Consumers are increasingly aware of the impact of business activities on the environment and society. Companies that adopt sustainable practices are often perceived as responsible and ethical, which can enhance their reputation and attract more customers.
• Positive Impact on Communities: Sustainable business practices can have a positive impact on the communities in which entrepreneurs operate. By adopting sustainable practices, entrepreneurs can create jobs, support local suppliers, and contribute to the development of the local economy.
• Compliance with Regulations: Governments around the world are increasingly regulating businesses’ impact on the environment and society. By adopting sustainable practices, entrepreneurs can comply with these regulations and avoid penalties and legal issues.

How the Tony Elumelu Foundation Supports Sustainable Business Practices:

The Tony Elumelu Foundation plays a vital role in promoting sustainable business practices among African entrepreneurs through its flagship programme. Here are some ways the Foundation supports entrepreneurs in this regard:

• Funding: The Foundation supports entrepreneurs in adopting sustainable practices by providing them with the necessary resources to implement sustainability initiatives. The Foundation is deliberate in its effort to empower more and more climate conscious entrepreneurs whose businesses focus on energy efficiency, waste reduction, responsible sourcing, and other sustainability-related activities.
• Mentorship: The Foundation’s mentorship programme helps entrepreneurs learn from experienced business leaders who have adopted sustainable practices in their businesses. These mentors provide guidance and support to entrepreneurs on how to adopt sustainable practices and integrate them into their business strategies.
• Advocacy: The Foundation advocates for sustainable business practices among policymakers, business leaders, and the  public. By raising awareness about the importance of sustainability, the Foundation encourages more entrepreneurs to adopt sustainable practices in their businesses.
• Business Management Training: The Foundation provides business management training to entrepreneurs on sustainable business practices. By providing entrepreneurs with the necessary knowledge and skills, the Foundation can help them adopt sustainable practices in their businesses.

Sustainable business practices are crucial for the long-term success of African entrepreneurs, as they can lead to increased profitability, enhanced reputation, and more significant impact on the communities they serve. The Tony Elumelu Foundation plays a vital role in promoting sustainable business practices, by providing funding, mentorship, training, and advocacy, the Foundation is consciously helping entrepreneurs to adopt sustainable practices in their businesses.

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While being the least contributor to greenhouse gas emissions with less than 5%, there is still an urgency for our continent to respond to the impending effects of climate change. This presents multiple opportunities to assist African households and communities while targeting growth and reducing poverty.

As entrepreneurship continues to be a means of economic development and job creation for African youth, a focus towards green entrepreneurship has become more necessary. Green entrepreneurship is crucial to the economy as we think about making our world and continent a greener and safer place.

According to the ILO, Green entrepreneurship can be defined from two perspectives related to the output (products and services) as well as the process (or production) of an economic activity.Entrepreneurs can enter an overtly ‘green’ business sector, providing green and environmentally friendly products and services (e.g., waste management).

Alternately, green entrepreneurs can provide their products or services through an environmentally friendly process or with the help of clean technologies (e.g., eco-tourism).

Green Entrepreneurship at TEF

Till date, the Tony Elumelu Foundation has had a total of 525 entrepreneurs with businesses addressing environmental issues, with the popular sectors being energy/power generation and waste management. Entrepreneurs from Kenya, Nigeria and Uganda had the highest representation in this group.

Entrepreneur stories: 

Leroy Mwasaru is a 23-year-old renewable energy social entrepreneur and sustainable design thinking prodigy. He founded Greenpact, a social enterprise obtaining biogas from both agricultural and human waste and works with communities to redefine renewable energy as a sustainable and necessary part of everyday energy needs. Since completing the TEF Entrepreneurship Programme, Leroy has gone on to other exciting projects and was the young person listed on Forbes Africa 2018 30 under 30.

Steve Matenda from the Democratic Republic of Congo founded EcoTech RDC, a Congolese start-up specialised in the development of innovative technologies focused on ecology. With a business based on the principles of circular economy, EcoTech has developed a new product made from recycled plastic waste. Through a long-term partnership with UNICEF, his products are being shared across the country and region.

Chioma Ukonu from Nigeria founded Recycle Points, Nigeria’s foremost waste recycling and social benefit venture that motivates consumers to recycle while creating value from their everyday waste. Recycle Points developed a point-based incentive model where waste collected from registered post-consumers and in turn reward them with POINTS, with the seed funding from TEF, Chioma was able to drive innovation by procuring two electric cargo tricycles (first of its kind in Africa) for door-to-door recyclable material collections.  With a revenue of over $400,000, Recycle Points has been instrumental in empowering women in low-income communities. By doing this, they have been able to add more greenpreneurs to their business model while creating 250 direct and indirect jobs.

Looking ahead:

As the world continues to focus on climate change and its impacts, policies and business regulations that support green entrepreneurship need to be created. By encouraging and investing in green businesses the Tony Elumelu Foundation is continuing its commitment to support African entrepreneurs focused on creating long term solutions to some of Africa’s most pressing challenges.

Working with entrepreneurs on key climate issues such as energy production and distribution, waste management, the circular economy and advanced agricultural practices is of utmost importance. Entrepreneurs play a major role in sustaining the green economy and have the power to push the needle in how the world thinks about sustainable businesses. Investments as well as policies favourable for green business sectors are therefore crucial to helping green SMEs expand their operations.

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