Rethinking governance for Africa’s growing businesses

Corporate governance is often associated with large listed companies, complex regulatory frameworks and extensive boards of directors. For many small and medium-sized enterprises (SMEs), it can appear distant, expensive or unnecessary.

Ntini challenges that perception.

He believes governance should be practical, accessible and designed to support entrepreneurs as they grow rather than becoming a consideration only after businesses reach maturity.

By translating governance principles into practical business tools, he helps organisations improve decision-making, manage risk, strengthen accountability and position themselves for long-term growth.

This approach reflects the evolving needs of African enterprises operating in increasingly competitive and interconnected markets.

Building the Global Governance Group

As the founder and CEO of Global Governance Group, Dumisani Ntini has built a consultancy focused on helping businesses embed ethical leadership, effective management systems and sustainable governance structures.

Rather than offering one-size-fits-all solutions, the company tailors governance frameworks to the realities of businesses operating in emerging African markets.

Its work spans strategic advisory services, governance implementation and executive development, helping organisations navigate regulatory expectations while strengthening internal systems that support sustainable growth.

For entrepreneurs seeking investment or expansion opportunities, these governance foundations can improve operational resilience and increase investor confidence.

Accelerating growth through the Tony Elumelu Foundation

In 2021, Dumisani Ntini joined the Tony Elumelu Foundation Entrepreneurship Programme, becoming part of the Foundation’s pan-African network of entrepreneurs.

Through the programme, he received US$5,000 in seed capital, alongside business training, mentorship and access to an entrepreneurial ecosystem spanning all 54 African countries.

The experience reinforced his vision of making corporate governance more accessible to businesses across the continent.

Beyond financial support, participation in the programme expanded opportunities for collaboration, strengthened his regional network and provided additional momentum to scale the Global Governance Group’s impact.

The Foundation’s support complemented Ntini’s mission of equipping African enterprises with the governance systems needed to grow sustainably and compete globally.

Building stronger institutions through knowledge

Recognising that governance is most effective when it is understood rather than imposed, Ntini has invested heavily in business education and public engagement.

Under his leadership, the Global Governance Group launched the #GoodGovernanceWorkshops, bringing together executives, board members and entrepreneurs to explore practical approaches to governance, leadership and organisational sustainability.

These workshops encourage businesses to view governance not simply as a compliance exercise but as a strategic asset that strengthens resilience, improves transparency and supports better decision-making.

By making governance knowledge more accessible, the company is helping cultivate stronger business institutions across Botswana and beyond.

Shaping the conversation on corporate governance

Dumisani Ntini’s influence extends beyond consulting.

He is a recognised voice in Botswana’s business community, regularly contributing insights on corporate governance through appearances on Botswana Television (BTV) and his #CorporateGovernanceCorner column published in Botswana Business Weekly.

Through these platforms, he continues to advocate for governance as a catalyst for business success, investment readiness and sustainable economic development.

His work contributes to a broader conversation about the role governance plays in strengthening Africa’s private sector and creating businesses capable of delivering long-term value.

Dumisani Ntini believes the continent’s future competitiveness depends not only on entrepreneurial ambition but also on the strength of the institution’s entrepreneurs build.

Through the Global Governance Group, he is working to ensure that governance becomes an integral part of business growth rather than an afterthought.

For entrepreneurs seeking to build lasting organisations, governance is not simply about managing risk it is about creating the conditions for enduring success.

The post Dumisani Ntini Is Advancing Corporate Governance in Africa appeared first on The Tony Elumelu Foundation.

Her work reflects a growing movement across Africa, where entrepreneurs are redefining tourism by placing local communities and authentic experiences at the heart of travel.

Unlocking Botswana’s tourism potential

Botswana is internationally recognised for destinations such as the Okavango Delta, Chobe National Park and the Kalahari Desert. Yet beyond its iconic wildlife lies a wealth of cultural traditions, community experiences and lesser-known destinations that remain underexplored.

For many travellers, accessing these experiences requires local knowledge and carefully curated itineraries. For local tourism businesses, standing out in a competitive global market requires innovation, storytelling and a deep understanding of what modern travellers value.

Recognising these opportunities, Bakang Keimetswe founded Afrigetaway to bridge the gap between Botswana’s rich tourism assets and travellers seeking meaningful, immersive experiences.

Building Afrigetaway around authentic experiences

Established in 2018, Afrigetaway (Pty) Ltd operates within Botswana’s tourism and hospitality sector, specialising in destination management, eco-tourism, cultural tourism and adventure travel.

The company’s approach goes beyond organising trips. It curates journeys that introduce visitors to Botswana’s landscapes, heritage and local communities while encouraging responsible travel practices that respect both people and the environment.

By combining tourism planning with authentic storytelling, Afrigetaway is helping position Botswana as a destination that offers more than wildlife safaris—it offers experiences that create lasting connections between travellers and the places they visit.

As demand grows for sustainable and experience-led tourism, the company is responding to changing traveller expectations while contributing to the country’s evolving tourism economy.

Strengthening the business through the Tony Elumelu Foundation

In 2021, Bakang Keimetswe joined the Tony Elumelu Foundation Entrepreneurship Programme, gaining access to the support needed to strengthen Afrigetaway during its early stages of growth.

Through the programme, she received US$5,000 in seed capital, alongside business training, mentorship and access to one of Africa’s largest entrepreneurial networks.

The support helped reinforce the company’s business structure, increase its visibility and provide practical tools for navigating the challenges of growing a tourism enterprise in a rapidly changing market.

Beyond funding, the programme connected Keimetswe with a community of entrepreneurs who continue to demonstrate the value of collaboration, knowledge sharing and innovation across Africa.

Contributing to Botswana’s experience economy

Since participating in the Tony Elumelu Foundation Entrepreneurship Programme, Afrigetaway has continued to strengthen its presence within Botswana’s growing tourism ecosystem.

The company has gradually expanded its focus on eco-tourism, experience-based travel and youth enterprise participation, reflecting broader shifts in how travellers engage with destinations.

Its work contributes to a tourism model that extends economic opportunities beyond traditional hospitality businesses by encouraging greater participation from local communities, guides and cultural experiences.

In doing so, Afrigetaway is helping showcase Botswana through the perspectives of the people who know it best.

This approach demonstrates how entrepreneurial innovation can complement national tourism strategies while creating opportunities for sustainable economic development.

Bakang Keimetswe believes Botswana’s greatest competitive advantage lies in the authenticity of its people, landscapes and traditions. Through Afrigetaway, she continues to build experiences that celebrate those strengths while responding to the evolving expectations of global travellers.

As demand grows for sustainable and culturally immersive travel, the company is well positioned to contribute to Botswana’s reputation as one of Africa’s premier tourism destinations.

Her entrepreneurial journey illustrates that tourism is more than moving people from one place to another. At its best, it builds understanding, creates livelihoods and allows communities to share their stories with the world.

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His journey reflects a broader shift taking place across the continent, where local innovation is creating solutions that respond to local realities while opening new opportunities for economic growth.

Why Angola needed its own digital marketplace

Like many African economies, Angola has witnessed growing internet adoption and increasing demand for online services. However, many small and medium-sized enterprises (SMEs) have traditionally struggled to establish an online presence due to limited digital infrastructure, fragmented payment systems and high barriers to entry.

For entrepreneurs, this often meant relying on informal sales channels that restricted visibility, customer reach and long-term business growth.

Recognising this gap, Ribeiro Tenguna envisioned a platform that would simplify online commerce for businesses while making digital entrepreneurship more accessible across Angola and, eventually, other Portuguese-speaking African markets.

From an ambitious idea to Kussumba Marketplace

Founded in 2017, the business began life as Makuta Marketplace before evolving into Kussumba Marketplace through a strategic rebrand that reflected its broader vision for regional growth.

Designed as a comprehensive digital marketplace, the platform enables businesses to sell far more than physical products. Vendors can also offer digital products, software, online courses, e-books and professional services, creating multiple pathways for entrepreneurs to generate income online.

By lowering the barriers to digital commerce, Kussumba Marketplace has become an important platform for businesses seeking to modernise their operations and reach customers beyond traditional retail channels.

The company’s model demonstrates how locally built technology can respond directly to market needs while supporting entrepreneurship at scale.

A pivotal moment through the Tony Elumelu Foundation Entrepreneurship Programme

In 2019, Ribeiro Tenguna’s entrepreneurial journey reached an important milestone when he was selected for the Tony Elumelu Foundation Entrepreneurship Programme, the Foundation’s flagship initiative supporting entrepreneurs across all 54 African countries.

As part of the programme, Tenguna received US$5,000 in non-refundable seed capital, alongside world-class business training, mentorship and access to one of Africa’s largest entrepreneurial networks.

While funding provided valuable early-stage capital, the broader ecosystem proved equally important. Exposure to experienced mentors, practical business education and connections with fellow entrepreneurs helped strengthen the company’s growth strategy during a critical stage of its development.

The Foundation’s support complemented Tenguna’s vision, allowing him to accelerate product development while positioning Kussumba Marketplace for sustainable expansion.

Driving digital entrepreneurship in Angola

Since participating in the Tony Elumelu Foundation Entrepreneurship Programme, Kussumba Marketplace has achieved measurable business growth.

Kussumba Marketplace has:

• Empowered more than 2,300 vendors
• Created 16 direct jobs
• Generated approximately 24 million Angolan Kwanza in annual revenue

These figures represent more than business success. They reflect increased opportunities for entrepreneurs who now have access to digital tools that enable them to sell products and services online with greater efficiency.

As customer expectations evolve, platforms like Kussumba Marketplace are helping businesses compete in an increasingly digital economy while encouraging wider adoption of e-commerce across Angola.

The company has also expanded beyond traditional marketplace services by exploring integrated financial technology solutions, including Kussumba Pay, an initiative aimed at making digital transactions more seamless for businesses and consumers.

International recognition for local innovation

Innovation often attracts attention beyond national borders, and Kussumba Marketplace has been no exception.

In 2020, the company was selected among Africa’s most promising startups through the Challenge des 1000, an initiative supported by Digital Africa and the French Development Agency (AFD).

The recognition acknowledged the platform’s potential to strengthen digital entrepreneurship, expand economic inclusion and contribute to Africa’s rapidly evolving technology ecosystem.

For Tenguna, it reinforced the idea that locally developed solutions can compete on the continental stage while addressing challenges unique to African markets.

Expanding the vision beyond e-commerce

Entrepreneurs rarely stop with a single idea.

Building on the experience gained through Kussumba Marketplace, Ribeiro Tenguna continues to explore new ways technology can solve pressing social and economic challenges.

In 2024, he launched Alívio, a crowdfunding platform created to support social initiatives, creative projects and entrepreneurial ventures. The platform reflects his belief that innovation should not only enable commerce but also unlock opportunities for communities, creators and emerging businesses.

Together, Kussumba Marketplace and Alívio demonstrate a broader commitment to building digital infrastructure that supports entrepreneurship across multiple sectors.

Ribeiro Tenguna’s vision extends beyond creating an online marketplace. His work is helping shape an ecosystem where businesses can access digital markets, consumers have greater choice and entrepreneurs are equipped with tools to grow sustainably.

As Kussumba Marketplace continues to evolve through new services, digital payment solutions and regional ambitions, its journey highlights what becomes possible when innovation is combined with strategic support, resilience and a deep understanding of local markets.

Read More Success Stories HERE

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Smoothie Express, her brand, was not only passion-fuelled but also a solution to a struggle she experienced, which was her driving force. She observed the accessibility gap as many companies were not offering healthy meals and beverages on a large scale; that was how her company was birthed. She says her goal is to be the pre-eminent health and wellness lifestyle company in Africa, and this includes a sustainable future.

The African Success Story of Smoothie Express

“I wanted to be at the forefront of real change and in a position to do so. Smoothie Express was not only passion-fuelled, but it was also relatable. This was my struggle as well and I knew I was not only the one facing this struggle. I wanted people to see healthy living as a lifestyle and not a luxury.  This was my driving force.”

Smoothie Express has generated over $1M in revenue since its inception (2015) through its QSR outlets, B2B sales, subscriptions, and events. The business currently has over 30 direct and indirect employees.

“I always say that the TEF programme could not have come at a better time for Smoothie Express. We were selected in 2015 when we had just started operations. We were still fresh into the market and entrepreneurship as a whole and needed all the mentorship and support we could lay our hands on. The support, resources and recognition that TEF brought cannot be over emphasised and it has remained constant over the years. It moulded us into the super business savvy entrepreneurs we are today.”

The TEF program opened her business with a plethora of opportunities. Her business has been featured in different interviews and radio shows. Just recently, she got nominated as one of the 100 entrepreneurs by Seedstars in collaboration with SAFEEM, an accelerator program that gave the company additional 10,000 euros in grant funding.

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 across all 54 African countries, and ensuring inclusive 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.

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Izu Freeman decided to help micro, small and medium businesses to digitalize their processes for free to enable them to close the small business funding gaps in Africa in order to have access to resources to grow and contribute to job creation.

“Seeing the devastating impact of poverty all around me, motivated me into becoming an entrepreneur; knowing that I can contribute both in direct and indirect job creation that will contribute to poverty reduction.”

Seed Funding for MSMEs in Nigeria

The company has users in Nigeria and Ghana.  They have won two National Prizes from National Information Technology Development Agency (NITDA) and the Nigerian Communications Commission (NCC) respectively in 2021.  They were invited on an all-expense-paid trip to exhibit our solution in GITEXT Dubai in 2021 and LEAP Riyadh Saudi Arabia in February 2022. They are currently in an acceleration program in New York USA; raising $250,000 USD.  They also have a demand to set up in Saudi Arabia and Poland with invitation by top two banks in those countries, respectively. They are in a serious conversation with MTN Nigeria in partnering to cocreate enterprise products for small businesses.

They have also created 4 full-time jobs and over 10 part-time jobs.

“The seed funding got me started in this journey and another transformational aspect of TEF is knowing that I can always get more supports from TEF as soon as I achieve certain tractions. We are contributing to the digitalization of micro, small and medium businesses thereby democratizing access to historical and transparent MSMEs data for proper investment, lending and granting decision making. And we are also contributing to Job creation.”

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 across all 54 African countries, and ensuring inclusive 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 post Meet Izu Freeman, 2019 TEF Alumni who is into processing, distribution of products from cassava. appeared first on The Tony Elumelu Foundation.

In 2017, before the TEF program, Olanrewaju was only selling one product on the street around the city. Presently he has seven products in about nine states in Nigeria and has created direct jobs for 14 Nigerians. He provides farm jobs for women – 8 women working in his factory and several women selling his products in the markets with monthly revenue of about 5000 USD. His company has local and international partnerships, with the products leaving Nigeria’s coast to Europe and America. 

African Success Story in Food Processing Business

Olarewaju said the seed capital and the 12 weeks of entrepreneurship training have been vital for his business. During the 2019 TEF forum, he was able to exhibit at the UBA marketplace and connected with several people that have impacted his business in terms of finances and recommendations.

“We have provided market opportunities for farmers -hundreds of tonnes of farm-produced processed.  We have provided off-farm jobs for women- 8 women working in our factory and several women selling our products in the markets.  We have created opportunity for industrial attachment for students- 12 students directly trained and more than 500 on excursion.”

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 across all 54 African countries, and ensuring inclusive 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 post Meet 2017 TEF Alumni, Olanrewaju Fadodun who started food processing and training services business appeared first on The Tony Elumelu Foundation.

The number of undernourished people in sub-Saharan Africa rose from 181 million in 2010 to almost 222 million in 2016. Among children, although the prevalence of stunting decreased from 38.3% in 2000 to 30.3% in 2017, the numbers affected increased from 50.6 million to 58.7 million due to population growth.

How Lahja Started a Food Processing Business

Lahja Amakali is an inductee of the Namibia Business Hall of Fame as an emerging Agri-preneur. His business is aimed at supporting and encouraging people to get involved in agribusiness to reduce importation, poverty level, and malnutrition in Africa.

“What motivated me is to reduce importation of foods from other countries as if we do not have hands and we do not go to university to acquire knowledge like any other people. Many chronical diseases are prevailing, and it is worse when one eats what is produced and processed by another person.”

TEF Grant and Training for Food Processing Business

The training provided on the programme has been an eye opener for Lahja Amakali.

“The TEF classes we were given were my eyes opener. It pulls me closer to peers to discuss and share our challenges and success stories in our businesses. The seed capital pushed me to where I am today especially my 3 shareholders gave up and removed their cash. I could not make it if TEF was not there to rescue Niithete Agro-Business Investment cc (Nabi cc) Thumbs up to TEF. Now we have five flavours, sorghum mint, sorghum lemon, sorghum coffee substitute orange and the pure sorghum coffee substitute. And another research is on pipeline for the slimming group.”

African Success Story in Food Processing Business

The business supports 10 small scale lemon growers, 2 mint growers, 5 sorghum producers. They have 2 full time employees and 8 part time employees. Their products enter the national market through Local Product Merchant shop. They changed the attitude of not believing in blacks that they can process for national and soon International. Contract farmers who supply raw materials are expanding their areas of growing sorghum. Many farmers are starting to grow different varieties such as mint, gingers and so forth.

The business has created more opportunities for small scale growers. Training them on how to select products for marketing, empower them on backyard garden and produce biogas for cooking and manure for their small garden.

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 across all 54 African countries, and ensuring inclusive 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 post Meet 2018 TEF Alumni, Lahja Amakali who started food processing and training services business appeared first on The Tony Elumelu Foundation.

After losing her father in his early life, Mechi Amaah had to look after pigs and sell them under her mother’s supervision to provide for their necessities. Upon getting to the university, she did business selling various things to make ends meet and decided to settle on manufacturing and selling hair products solely. 

How Mechi started with the cosmetic business idea

Mechi founded Black and Natural Cosmetics, a 100% organic cosmetic manufacturing company aimed to encourage the consumption of organic hair cosmetics, initially and subsequently, skin cosmetics. To join environmental protection and sustainable development, Black and Natural Cosmetics derives all its ingredients from plants, some of which are organically processed.

Mechi Amaah was about expanding his business when COVID-19 pandemic hit the world and everywhere was under lockdown. However, the seed capital she got from the foundation enabled her to diversify and employ 2 more workers, thereby saving her business from liquidation. Coupled with the training received on the programme on business management, she has been able to take her business to another level and created a high level of impact in her community.

“The training the program offered, helped me to keep tabs on my mission, vison and most importantly, my finances. Ever since the program, I can proudly say the books of my businesses are in order.”

Funding for Mechi’s cosmetic business idea

Since getting the grant, she has employed 4 more staff to help with her business and now has 7 employees working directly under her. Also, her annual revenue has increased by 70%, with her opening two other companies and awards to her name.

“To give back to my community, i have created jobs and am currently working on an accelerator program to train young girls with vocational training skills that can enable them gain employment or start up their own business. This will go a long way to reduce unemployment in my community and country.”

Being a graduate of accounting, she helps budding entrepreneurs set their accounts straight and helps them plan their business. Currently, she has built a community of about 30 entrepreneurs. These will go a long way to reducing unemployment in her community and country.

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 across all 54 African countries, and ensuring inclusive 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 post Meet 2019 TEF Alumni, Mechi Amaah who is into production of organic and eco-friendly cosmetics appeared first on The Tony Elumelu Foundation.

In Nigeria, the supply or provision of public drinking water is not reliable. Ground water and pipe-borne water are the major sources of drinking water. These sources are said to be unsafe sources of drinking water because findings indicated that groundwater sources contain trace elements, dissolved solids and pathogens in excessive quantities that may be dangerous to the health of the people.

Identifying the clean water problem

The realization of the renewed global commitments toward the millennium Development Goals (MDGs) required the development of locally sourced alternative low-cost drinking water schemes that will provide sustainable access to safe drinking water in both rural and urban settings in developing countries (UNDESA, 2004). 

Sachet water belongs to the lower consumption segment in the beverage and water sector. However, it accounts for about 70% of total packaged water sold in Nigeria and only about 18% of urban households in Nigeria depend on packaged sachet water as the primary source of drinking water.

Fund for his Clean Sachet Water Business Idea

This challenges and the need to address them prompted Olusegun to set up Dotsom Enterprise, a company that produces quality and hygienic sachet water.

Dotsom Enterprise is an approved firm that wants to solve the problems of clean water scarcity by providing unique, innovative, and wholesome sachet water with 20 percent extra value at same price with competitors to meet rising needs for wholesome and affordable water in satisfactory quantity.

“The rising demand for wholesome water particularly during hot weather in my locality and its environs is yet to be adequately met as many are always in search of clean and affordable water at every season. The present supply cannot meet popular demand. Hence, my firm is strategizing to meet these needs by introducing 70cl sachet water which represents 20% – 30% extra value to customers as against competitors’ 50cl/60cl that are currently available in the marketplace.”

Olusegun decided to be an entrepreneur for the passion he had for it and ultimately to meet the needs for wholesome sachet water in his locality. He was motivated by the inadequacy of quality sachet water in his community.

“I wanted to change the situation of shortage of good sachet water in my community with my business. This was so important because it has direct impact on the health situations of the people in my locality.”

Currently, he has 11 people under his direct employ and generates revenue ranging from $500 to $600 monthly, and the company’s market share has increased by 20%. With this, the transmission of diseases like cholera, diarrhoea, hepatitis A, typhoid, and polio, which causes the death of 100,000 children under the age of 5 in Nigeria yearly, is greatly reduced.

“The TEF programme has indeed helped me realized my dream of meeting the needs for wholesome and quality sachet water in my locality. Most importantly, the TEF training, funding and mentorship have made a   whole lot of difference and greatly changed my entire life.”

Olusegun has explored the opportunity of becoming a consultant to others in the field of water production. He is also tutoring potential entrepreneurs on how to kick start a successful business venture.

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 across all 54 African countries, and ensuring inclusive 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 post Meet 2019 TEF Alumni, Olusegun Ayodele who was funded for his sachet water business idea appeared first on The Tony Elumelu Foundation.

Identifying this problem

While growing up, Jonathan saw his mom engaged in petty trading in a bid to make ends meet, while his brothers were actively engaged in schooling with the aim of improving their chances in order to get good jobs. At the same time, he saw his mom and other traders make wholesome daily profits, as a result he decided to be an entrepreneur so that he will not only make money but provide jobs for the people around him.

Jonathan Azua owns a Luxuriant cleaning and maintenance company the company that aims at giving customers a higher cleaning experience, this clear promise of value helped to incentivize their first users, even today, this has remained their message and an integral part of their organizational culture. The nexus and common theme of the organization is how to make a difference in the lives of customers, users, and stakeholders.

Seed Capital for Cleaning and Maintenance Business

For Jonathan, the training and the seed capital provided by the programme was a turning point in his entrepreneurship journey.

“Two things stood out for me in the TEF program, the training and the seed capital. Before the training I was managing a business in the informal sector, while I was largely successful at that level, I never knew there were things I was doing wrong, for example, the training helped me to understand important concepts such as corporate governance and structure, it kind of covered something small about everything a business is all about, the training armed me with the knowledge I needed to succeed at scale.

Also, he believes seed capital was a huge leverage, which was a tool for him to achieve his dream. When he started out, he made up his mind that this may be the only business fund he may ever have, so he would not fail himself. He went about investing with that mindset, and as of today, he has about 5 companies in his group just from a single seed, and he believes that the future holds much more for his business in abundance in terms of revenue generation and impact.

“The seed capital changed my life forever, all that I will ever become in life is tied to that seed capital.”

The group makes in excess of $10,000 annually in revenue generation, with over 20 direct and indirect employees.

Currently, they are expanding beyond their primary geographic market segment (Yobe state), as they attempt to become a national player by opening outlets in strategic markets.

“We are proud to be an employer of labour seeing that our country is grappling with an unprecedented unemployment rate, while making money is good business, beyond that, we are proud of being able to gainfully employ people and taking them out of the street, as a result. We see our contributions to the country’s GDP as the hallmark of our work, while our ability to provide goods and services that solve customers’ problems daily has been resounding and encouraging.”

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 across all 54 African countries, and ensuring inclusive 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.

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