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

The African Entrepreneurship Landscape 

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

The Power of Innovation 

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

Technology as an Enabler 

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

Key Areas of Impact 

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

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

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

Case Studies 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

The Role of the Tony Elumelu Foundation 

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

Challenges and Opportunities 

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

The Way Forward 

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

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

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The African Entrepreneurship Landscape 

Africa is a continent of immense potential, with a youthful population eager to drive change and innovation. However, numerous challenges, such as limited access to capital, inadequate infrastructure, and regulatory hurdles, often hinder aspiring entrepreneurs. In this context, government policies become critical in either enabling or impeding entrepreneurial endeavours. 

Impact of Government Policies on Entrepreneurship 

• Access to Capital: Government policies that support the establishment of venture capital funds or provide guarantees for small business loans can significantly improve access to capital for entrepreneurs. Such initiatives reduce the risk for investors and encourage them to support startups. 

• Business Registration and Licensing: Streamlining the process of business registration and licensing can reduce bureaucratic hurdles and encourage more individuals to formalise their businesses, leading to increased transparency and access to formal financing. 

• Tax Incentives: Tax policies that offer incentives for small and medium-sized enterprises (SMEs), such as reduced tax rates or tax holidays, can lower the cost of doing business and stimulate entrepreneurship. 

• Education and Training: Governments can invest in education and vocational training programs that equip aspiring entrepreneurs with the skills and knowledge needed to succeed in the business world. 

• Infrastructure Development: Investments in infrastructure, such as reliable electricity and transportation networks, are essential for business growth and competitiveness. 
• Intellectual Property Protection: Strong intellectual property laws and enforcement mechanisms protect entrepreneurs’ innovations and encourage them to invest in research and development. 

The Role of the Tony Elumelu Foundation 

The Tony Elumelu Foundation (TEF) is a prominent player in advancing entrepreneurship across Africa. The Foundation’s mission is to empower African entrepreneurs and catalyse economic development. Here’s how TEF complements government policies in fostering entrepreneurship: 

• Training and Mentorship: TEF provides comprehensive training and mentorship to selected entrepreneurs through its flagship program, the TEF Entrepreneurship Programme. This equips them with the skills and knowledge needed to navigate the challenges of entrepreneurship. 

• Seed Capital: TEF offers a non-refundable seed capital of $5,000 to African entrepreneurs, bridging the funding gap that many startups face. This financial support enables them to transform their ideas into viable businesses. 

• Networking Opportunities: The Foundation fosters a vibrant community of entrepreneurs, encouraging collaboration and knowledge-sharing. This network strengthens the resilience and innovative capacity of African entrepreneurs. 

• Advocacy and Policy Engagement: TEF actively engages with governments and policymakers to advocate for policies that promote entrepreneurship and ease the burden on startups. 

• Promoting Pan-African Entrepreneurship: The Tony Elumelu Foundation’s reach extends beyond national borders, fostering a Pan-African entrepreneurial ecosystem that transcends geographic limitations. 

Government policies and initiatives play a pivotal role in fostering entrepreneurship in Africa, providing a conducive environment for startups to thrive. The Tony Elumelu Foundation’s work is not only complementary but also transformative, as it empowers and equips entrepreneurs with the skills and resources they need to succeed. By combining the efforts of governments and organisations like TEF, Africa can unleash its entrepreneurial potential and drive sustainable economic growth for the benefit of all. Together, they are building a brighter future for the continent. 

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The Tony Elumelu Foundation recognizes and champions the transformative power of the African creative industry and its development, believing that it holds the key to unlocking sustainable economic growth and prosperity in all 54 countries across the continent.

In this piece, we explore the key role of innovation, entrepreneurship, and cultural exchange in harnessing Africa’s creative industry and propelling the continent toward a prosperous future.

Unleashing Innovation:

Innovation lies at the heart of the African creative industry, paving the way for new ideas, products, and experiences. From fashion and film to music and design, African creatives are continuously pushing boundaries to redefine traditional norms. To foster this spirit of innovation, the Tony Elumelu Foundation provides budding creative entrepreneurs with access to mentorship, training, and funding, empowering them to transform their creative ideas into viable businesses. This promotes the required culture of innovation that positions Africa as a hub of creative excellence.

Empowering Entrepreneurship:

Currently, Africa’s creative industry is catalysing the creation of jobs, poverty alleviation and economic inclusion in communities across the continent. However, many talented Africans encounter barriers in accessing capital, business skills, and market opportunities. Part of the Tony Elumelu Foundation’s commitment is to empower African entrepreneurs so that they can address these challenges head-on. Through the Tony Elumelu Foundation Entrepreneurship Programme, African creatives are equipped with the tools and resources they need to bring their ideas to life through access to a non-refundable seed capital, business management training, mentoring, and networking opportunities.

Fostering Cultural Exchange:

Africa’s creative industry offers a unique window into the continent’s diverse cultures, traditions, and stories. Through their work, African creatives act as powerful catalysts for cultural exchange, enabling the rest of the world to share the continent’s narratives and perspectives. The Tony Elumelu Foundation recognizes the importance of preserving and celebrating Africa’s cultural heritage while embracing modern influences and global trends. By supporting initiatives that promote cultural exchange such as exhibitions and collaborations, the Foundation fosters cross-cultural understanding, stimulates dialogue, and strengthens the bonds between Africa and the rest of the world. This intercultural exchange not only enriches the creative landscape but also contributes to Africa’s global reputation as a vibrant and dynamic continent.

Creating Sustainable Ecosystems:

To harness the full potential of the African creative industry, the Tony Elumelu Foundation plays a vital role in building sustainable ecosystems that support the growth of budding creatives by facilitating collaborative initiatives, encouraging investments from public-private sector players, and advocating for supportive policies. The Foundation works governments, industry stakeholders, and the civil society to ensure the creation of an environment where creativity and entrepreneurship can thrive, by deploying initiatives that address intellectual property protection, access to finance, infrastructure development, and skills enhancement. By building robust ecosystems, the Foundation ensures that Africa’s creative industries continue to flourish, creating jobs, fostering economic resilience, and driving social development.

As we look to the future, it is essential that we recognise the importance of investing in Africa’s creative industry, as it is the key driver of the continent’s economic growth and development. We all need to play our roles in harnessing the power of Africa’s creativef,   the benefit of all.

Meet some of our Creative Tony Elumelu Entrepreneurs

Michel Nkuindja is a 2015 TEF Alumnus who is driving Africa’s narrative through video games. He is the founder of Noohkema Game Studios, a creative studio that specializes in the production of real-time 3D content.

The goal of Noohkema is to utilise video games and interactive media as the best and most effect medium of changing global perceptions of Africa while preserving its cultural identity for the next generations. They are able to achieve this through a range of services that include 3D Visualization and prototyping, Edugames, Immersive Real-time architectural visualisation, Realtime Renderings, 3D Animation, Virtual Reality/Augmented Reality, Strategy and Design.

Working together with architects, property developers, interior designers, product developers, construction companies, selling agents, advertising agencies and artists, Noohkema Game Studios can effectively illustrate design concepts and brings them to life.

Michel is creating aesthetic African themed games to a global audience through high-quality games with amazing and engaging mechanics.

One of his latest games, Afro Warriors: Battle for Power, has a rating of 4.8 stars on the renowned Google Play platform. It’s heavily inspired by the Africa’s rich history, culture, and mythology. The game features a combination of 2D fighting and full 3D graphics and simplified Swipe+4 button controls with fast-paced gameplay. It has over 500,000 downloads with positive comments and remarks by its players from across the world.

Michel employs innovative strategy, design, and technology as fuel for his storytelling engine and is taking the legendary stories originating from Cameroon and other parts of Africa to different parts of the world.

Chioma Ogbudimkpa runs a fashion business known as Redbutton which focuses on the production of workwear for female professionals, fusing African aesthetics, eco-friendly materials, and art from all over the world. With every piece, the brand places emphasis on African stories, powerful women, and sustainability. Because the African woman is vibrant, the designer creates a balance between colors and texture, in interpreting strength and sophistication. Essentially, Redbutton seeks to project rare design innovation and modern African culture to the rest of the world. The brand’s tailoring is done in Nigeria and sold globally via redbuttonng.com and other local and international retail stores.

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The Tony Elumelu Foundation (TEF) was established in 2010 by Mr Tony O. Elumelu, CFR, leading African investor, philanthropist, Africapitalist and former Chief Executive Officer of the United Bank for Africa which he now chairs. It has become the leading philanthropic organisation dedicated to empowering entrepreneurs and enhancing entrepreneurship in Africa, with the objectives of driving poverty eradication, ensuring job creation across the continent, and improving women’s economic empowerment.

The Foundation believes in the critical role of the private sector in Africa’s development and has dedicated all efforts toward its landmark Entrepreneurship Programme since 2015. The Programme was launched with USD 100 million of Mr Elumelu’s personal wealth, to train, mentor, and fund 10,000 African entrepreneurs in 10 years. This USD 100 million fund has been used to provide financial support to more than 18,000 aspiring entrepreneurs across all 54 African countries, in addition to providing mentorship and key business skills training to hundreds of thousands more.

What was the challenge?

Mr Elumelu envisioned creating a philanthropic entity that catalyses pan-African economic prosperity. His philosophy of ‘Africapitalism’ is grounded in the belief that a vibrant private sector holds the key to the continent’s economic and social prosperity, and that the development of a strong, sustainable small and medium enterprise (SME) sector will support the solutions to major challenges – including rising youth unemployment, mass migration and systemic poverty.

To achieve this vision, after lengthy discussions on potential funding and programmatic models at Board and senior stakeholder level, in 2015 the Foundation moved away from a traditional model of supporting individual scholarships and incubators and became solely focused on empowering young African entrepreneurs with seed capital and extended business development support. After a successful start from 2015-2016, the programme saw even more tremendous growth in demand from 2017 onward. Yet, resource constraints limited the Foundation’s ability to support the number of applicants they received, with growing concern at senior levels of the organisation about whether their new model could actually serve the vast needs of African entrepreneurs. By 2021, the programme was receiving over 400,000 applicants each year for USD 5,000 seed funding grants. It became abundantly clear to Tony Elumelu himself, and to the wider leadership team, that they must do something differently to meet this demand and achieve an even more scaled impact.

What was the response?

Seeking to create a larger, more holistic structure to support African entrepreneurs, the Foundation asked themselves a series of questions before taking steps forward: 

• How could the Foundation drive more funding toward the initiative while maintaining the commitment to exclusively supporting aspiring entrepreneurs? 
• What types of non-financial support could and should TEF offer their entrepreneur cohorts?
• To what extent could the programme be turned from a funding accelerator into a more comprehensive ‘mini-MBA’ style offering that leverages all of the expertise available within the TEF networks? 

The insights they gained from considering these questions were then used as the basis for a range of actions:

1. Developing multi-stakeholder partnerships with local and international organisations – including INGOs like the International Red Cross, governmental bodies, private companies, and multilateral organisations like the African Development Bank and the European Union – to expand the pool of funding available for African entrepreneurs. Under the TEF Entrepreneurship Programme, aspiring entrepreneurs can apply for USD 5,000 seed capital grants to help move their businesses from ideation to readiness for raising commercial capital.
   
2. Creating a free, large-scale technological platform to support not only the entrepreneurs who successfully win TEF seed funding but also the many more who do not advance to the final programme stages. The TEFConnect platform is the TEF Programme’s digital hub, encompassing business development, 1-to-1 mentoring, networking, and pitching. Leveraging technology and automation enabled TEF to broaden its reach.
   
3. Expanding support for entrepreneurs beyond just funding. Through the TEFConnect platform, TEF offers training and mentoring to a far greater number of entrepreneurs than just those who received funding. For instance, in 2021 while 5,000 people received funding, 200,000 participants benefited from valuable business management training. The Foundation is also harnessing its alumni network to expand its growing base of coaches even further.
    
4. Harnessing the expertise of Board members and senior stakeholders, giving them the opportunity to provide hands-on support and involvement in the mentoring, teaching, and curriculum development aspects of TEF’s programmes. Board members and TEF advisors work closely with Foundation staff, contributing their expertise and networks to ensure the successful delivery of the Programme’s initiatives. Expectations about the level of commitment required are set by TEF’s team from the start when engaging stakeholders in the programme. Generally, Board members and senior stakeholders are very supportive of TEF’s commitment to the programme.

What have they learned?

1. Be willing to learn and adapt by listening to your communities and stakeholders. Don’t simply carry on with legacy programmes that limit the impact. For instance, the TEF model for training and coaching for more participants (beyond only seed funding recipients) emerged from the Founder’s commitment to democratise luck and institutionalise access to opportunities for even more young Africans on the programme.
2. Seek ways to maximise scalability when programmes are successful, instead of simply accepting limitations. Do this by leveraging external partnerships to scale up and seeking out partners that have strong impact track records. Identify partners with aligned goals and equally good governance.
3. Ensure rigorous monitoring, learning and evaluation (MEL) mechanisms to continuously assess the impact of your work. Where resources permit, leverage knowledge in this area from Board members, seek specialist advice, or hire dedicated staff onto your team. Avoid seeing MEL as a tack-on exercise.
4. Think big! While TEF is headquartered in Nigeria, they view broader African prosperity as critical to the Foundation’s mission and consistently seek ways to reach entrepreneurs across the continent. They leverage their pan-African resources and collaborations to create an inclusive experience for those from different linguistic or cultural backgrounds.
5. Agility: With its proximity to the entrepreneurial ecosystem and its daily realities, TEF gains unique insight into emerging needs in Africa and the innovative ways that young people address them. TEF uses this knowledge to support growing numbers of entrepreneurs in providing solutions to Africa’s challenges and harnessing digital technologies to reach their customers. TEF also makes a conscious effort to address demographic imbalances, striving to increase the inclusion of more young women in its cohorts.

We are intentional about creating a completely inclusive programme and accommodating socio-cultural diversities across Africa. Without this, we cannot have success.

Monitoring and Evaluation Manager, Tony Elumelu Foundation

Key outcomes and impact indicators

The post EMBRACING THE SPIRIT OF AFRICAPITALISM: CATALYSING AFRICAN SOLUTIONS DEVELOPED FOR AFRICAN BY AFRICANS – A CASE STUDY OF THE TONY ELUMELU FOUNDATION BY WINGS appeared first on The Tony Elumelu Foundation.

This must be avoided.

The Tony Elumelu Foundation wants to ensure that Africans are safe, informed and equipped to deal with this menace to stall its spread.

These are helpful suggestions to help us deal with this together:

Don’t panic. Don’t Spread Rumours.
Firstly, don’t panic, and more importantly, don’t spread panic-driven rumours. At a time like this, it is important that you remain calm enough to receive, process and absorb critical information before taking any action.

We know the implications of rumours in our society. They can cause more damage than the disease if special care is not taken so please discourage others from spreading false information.

Verify all information
We always speak about private and public sector collaboration, and this is one scenario where this becomes important. 

Whatever information you receive on the coronavirus, it is important that you verify the information first with the relevant government authorities. This way, we work together to achieve the same goal of stopping the spread of Covid-19.

Health First
While business is important, your life and the lives of your loved ones matter more. 

Observe specific actions as outlined by the World Health Organisation and by our local health authorities, including:

• Avoiding crowded spaces
• Observing social distancing
• Washing your hands regularly
• Using a hand sanitiser
• Not touching your face
• Eating healthy to strengthen your immune system
• Observing the self-isolation regulations if you travel
• Contacting the nearest health personnel if you observe Covid-19 symptoms
• Working remotely, if you can

Contingency and Business Continuity Plan
Prepare for worse case scenarios, especially if your country announces a lockdown. Review your business processes in areas that may suffer if you have to take time off work and prepare solutions to mitigate the risks.

In conclusion, we are hopeful that this too will pass and quickly at that, but we must all work together at this time to preserve the lives of the people around us and ensure that the negative impact on the socio-economic climate of our dear continent is reduced to the barest minimum.  

Safety first.

Click HERE for news from the Tony Elumelu Foundation this week.

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