Philanthropy: Tony Elumelu Foundation Gives Financial Support To  1,200 African Entrepreneurs In 2024 Fisal Year

 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’’.

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