My foundation set to empower new generation of African entrepreneurs, says Elumelu

The Chairman of  Heirs Holdings Mr. Tony Elumelu, has expressed that the Tony Elumelu Foundation (TEF) is poised to empower a new generation of African entrepreneurs, stressing that Africa’s future belongs to young ones and when they are empowered, the continent is empowered. 

The Chairman of  Heirs Holdings Mr. Tony Elumelu reiterated that joblessness is a betrayal of the youth in Africa, maintaining that the  world has identified Africa’s potential, but potential without opportunity becomes a hope deferred. 

“True change happens when we empower those who will build the future; our young men and women.

“This is why, in 2010, my wife and I founded the Tony Elumelu Foundation, rooted in the belief that entrepreneurs are the catalysts for Africa’s transformation. What began as a bold idea has grown into a movement that stretches across all 54 African countries, shaping the dreams and destinies of a generation”  he said.

Elumelu , who is also the Chairman of United Bank for Africa (UBA) stated that the mission is simple but powerful: to empower, uplift and inspire the next generation of African leaders through entrepreneurship.

“Since launching the TEFConnect Entrepreneurship Programme in 2015, we have already gone far beyond our original commitment of empowering 10,000 entrepreneurs. Today, more than 24,000 young African entrepreneurs have been identified, trained, mentored and funded with non-refundable seed capital to start and scale their businesses, each receiving USD 5,000 to turn ideas into impact.

“Today, the Tony Elumelu Foundation has built the largest digital entrepreneurship ecosystem on the continent, with over 2.5 million entrepreneurs accessing world-class business training, mentorship and networks, giving young people the tools they need not just to start, but to scale and succeed.

“This is Africapitalism in action: the private sector taking responsibility for Africa’s development, using business to create both economic growth and social impact. When we invest in entrepreneurs, we are investing in solutions, dignity, jobs, communities and sustainable prosperity.

‘Our work continues. Applications are ongoing,” he added.