By Stephen Ubanna
Tony Elumelu Foundation, popular, TEF, which had been in the league of promoting Afrricapitalism, which many believe had positioned the private sector , and most importantly, entrepreneurs as the catalyst for the social and economic development of the African Continent appears to be leaving up to expectations.
The Elumelu Foundation, according to informed sources had continued to demonstrate its superiority to other philanthropic organizations in empowering Entrepreneurs in the 54 African countries including Nigeria, the most populous country in the Continent.
The Tony Elumemu Foundation which was said to started its philanthropy of giving Financial support to potential African entrepreneurs was said to have started with the disbursement of the North American country of the United States, US, $100 million into the hands of the entrepreneurs in 2015, which in turn had created over 400,000 direct and indirect jobs, towards contributing significantly to the Continent’s economic growth and development.
Giving an insider information Tony Elumelu, the multi-billionaire business mogul who incidentally is the Chairman of United Bank of African, UBA, plc, a Pan African Bank, Heirs Holdings and Transcorp International plc, had said that ‘’the Foundation had provided capacity building support , advisory services and market linkages’’ to over 1.5 million Africans through its digital entrepreneurship –support platform, TEFConnect.
This 24, Fiscal year, the Foundation was said to have concluded arrangement to announce an additional 1,200 entrepreneurs across the African Continent that had benefited from its entrepreneurship programme. The much expected announcement of the 1,200 new benefiting entrepreneurs of TEF, according to to an elated Elumelu will be made on Friday, March 22, 2024, and which will make the new beneficiaries to become the 10th cohort of the 10 -year long TEF entrepreneurship programme.
There is no gain saying the fact that TEF, belief in the developing the potentials of the young African entrepreneurs is yielding the desired result which should spur other notable Foundations founded by mlti-billionaires like Aliko Dangote, Theophilous Danjuma, Arthur Eze, Jim Ovia, Mo Ibrahim , all Nigerians, Francos Van Nierkerk, Allan Gray, Mark Shuttleworth and Donald Gordon, all South Africans including Foundations Strive Maiyiwa Foundation in Zimbabwe to join forces with the Elumelu Foundation in the promotion of African economic growth and development through investment in capacity building development in the African Continent.
Take it or leave it, TEF, unwavering commitment’’ to empowering African entrepreneurs and striving sustainable change’’, would continue to make profound impact on the Continent’s growth and development trajectory that should be emulated by all the other Foundations founded within the African Continent.
This may have informed why young African entrepreneurs see the Elumelu Foundation, as’’ a beacon of hope’’ , calysing the much transformative change needed in creating opportunities for generations yet unborn in the African Continent. Moreso, the young African entrepreneurs see the upcoming announcement of the 1,200 entrepreneurs this 2024, as a confirmation of the Elumelu Foundation ‘s Commitment ‘’to supporting entrepreneurship as a catalyst ‘’for driving poverty eradication , catalyzing job creation across all the 54 African countries and increasing women economic empowerment’’.
