This partnership is part of the overall IYBA-WE4A programme which will work to strengthen the entrepreneurship ecosystems, access to finance and capacities of women-led MSMEs and start-ups in selected countries in Sub-Saharan Africa.

The design of the IYBA-WE4A programme seeks to address the existing capacity, business services and funding gaps for its target group -women-led MSMEs and start-ups- and strengthen relevant networks and learning on successful pathways for women entrepreneurs. Overall, the IYBA-WE4A programme in encouraging and sustaining women entrepreneurs and their businesses contributes to the creation of employment and economic prosperity.

FAQs 2024: WE4A II

• What is IYBA-WE4A? IYBA-WE4A stands for Investing in Young Businesses in Africa – Women Entrepreneurship for Africa. The programme is aimed at empowering women entrepreneurs in selected Sub-Saharan countries through entrepreneurial skills and seed-funding.
• What are the goals of IYBA-WE4A? The initiative seeks to address economic challenges in Africa by empowering women and youth through entrepreneurship, with a focus on financial and digital inclusion and sustainable development goals.
• How does IYBA-WE4A support women entrepreneurs? This programme provides training, coaching, mentoring, and funding to women-owned businesses, with a special focus on green businesses and sectors contributing to the green transformation. It aims to increase the viability and survival rates of these enterprises.
• What are the sectors of focus? This programme will focus on green sectors and entrepreneurs working on greening initiatives through their businesses. Green sectors include the following and women operating in these sectors are welcome to apply –
  • i. Sustainable agriculture and agricultural processing
  • ii. Blue economy and aquaculture
  • iii. Renewable energy
  • iv. Circular economy and waste management including biomass
  • v. Eco-tourism
• What are the countries of implementation? Kenya, Mozambique, Tanzania, Uganda, Malawi, Senegal, Cameroon, and Togo
• Who can apply for the IYBA-WE4A Entrepreneurial Skills and Seed-Funding programme? Women entrepreneurs in Cameroon, Kenya, Malawi, Mozambique, Senegal, Tanzania, Togo and Uganda with existing businesses or business ideas that drive the green transformation can apply for the programme.
• How does one apply for the TEF Entrepreneurship Programme under the IYBA-WE4A initiative? Interested individuals with existing businesses or business ideas can apply on TEFConnect. The application is currently open and closes on May 5^th, 2024.  
• What kind of support do selected women entrepreneurs receive from the WE4A II Entrepreneurship Programme? Selected women entrepreneurs will receive the TEF Business Management training. A bespoke Green Economy and digital inclusion training, mentorship. Also a non-refundable seed-funding grant of USD 5,000. They also get access to networking opportunities, additional funding possibilities, and are integrated into the TEF Alumni network. This is upon completion of the programme.

Updated: The Tony Elumelu Foundation Launches Its 2024 TV Commercial

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1. Q: How do I apply for TEF grant?

A: The Tony Elumelu Foundation Entrepreneurship Programme is open to Africans from all 54 African countries with scalable business ideas or a business that has been operational for no more than 3 years. Applicants must be 18 years of age and above. Interested applicants may register on www.tefconnect.com 

2. Q: Is there a registration fee to be paid before TEF Application? 

A: TEF has NOT appointed anyone to act on her behalf to conduct any part of this Programme. This Programme is online, and it is FREE! If anyone is asking you to pay any amount of money in exchange for developing your business plan or pitch, it is a scam. Please report it immediately by sending an email to tefimpact@tonyelumelufoundation.org. We will ensure the confidentiality of your information. 

3. Q: I have signed up on tefconnect.com but no confirmation email received? 

A: Kindly ensure to check your inbox, spam, promotional and junk mailboxes for confirmation emails. Be sure to send an email to enquiries@tonyelumelufoundation.org for any further assistance.  

4. Q: While filling my application on tefconnect.com, I am unable to click on ‘’CONTINUE’’ to move to the next part of my application, please help? 

A: If you experience any issues with filling your application, kindly send an email to  enquiries@tonyelumelufoundation.org 

 with detailed reference either with text, image or video and we will resolve immediately.  

5. Q: Can I use a student ID to apply? 

A: We are only able to admit government issued ID, any other ID will render the application null & void. 

6. Q: I am unable to upload my ID/photo. Why? 

A: Kindly ensure that you are uploading a Jpeg/png file no more than 1mb in size. If issue persists, kindly send a screenshot of the error message to enquiries@tonyelumelufoundation.org 

7. Q: Who is eligible to apply? 

A: The Tony Elumelu Foundation Entrepreneurship Programme is open to Africans from all 54 African countries with scalable business ideas or businesses from 0 – 5 years.  

8. Q: What is the next step after applying on TEFConnect? 

A: Once you have successfully submitted your application, you will get a notification about your status. 

9. Q: I am unable to log in with my registered email address, what do I do? 

A: If you experience any log-in issues, kindly send an email to enquiries@tonyelumelufoundation.org with detailed reference to the issue and we will resolve immediately. You could explain to us in detail the problems you face when trying to log in? If you can, please also send us error screenshot. 

10. Q: Can I reapply after being rejected in previous years? 

A: Yes, we encourage you to reapply to our programme until you are successful.  

11. Q: Is it possible for couple to apply for TEF Entrepreneurship Programme separately?  

A: Members of the same family are not allowed to apply to the Programme, doing so would result in disqualification.   

12. Q: I have two ideas. Can I submit them separately?  

A: Unfortunately, this is not allowed by the Foundation. Applicants are expected to apply with only one existing business or business idea. Applicants found to have applied multiple times in the same cycle or in different cycles will be disqualified.  

13. Q: What documents do we need to upload when applying?  

A: When filling the application form on TEFConnect, you will be required to upload the documents below.  Also, please ensure to use valid phone numbers that are on WhatsApp to apply to the programme. The documents are: 

1. Valid Government-issued Identification- This applies to everyone.  

2. Official Business Registration Certificate- Businesses already operational  

3. Official Evidence of Business Ownership- Businesses already operational  

4. Official Evidence of Directors- Businesses already operational  

5. Official Consent by Partners to apply- This applies to businesses with partners 

Updated: The Tony Elumelu Foundation Launches Its 2024 TV Commercial

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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

The post Nigeria at 63: Collective Actions to foster Nation-Building appeared first on The Tony Elumelu Foundation.

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

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