By Stephen Ubanna
No African Business mogul and Philanthropist has attracted much attention in international circles than Tony Elumelu, Chairman, United Bank for African, UBA plc, a Pan African Bank and founder Tony Elumelu Foundation, which had been involved over the years in transforming the African Development Agenda than Tony Elumelu.
The North American country of the United States of America, US, based Harvard Business School, HBS, in its renewed geopolitical interest in the African Continent and an increasing questioning of traditional development finance models, was said to have released a case study examining ‘’the role and impact of Tony Foundation , popular, TEF, and its unique finance approach, catalyzing entrepreneurship in Africa.
Havard Business School, may have been encouraged to do a case study on the Leading philanthropy Foundation in the African Continent that was said to have been empowering a new generation of the Continent entrepreneurs, catalyzing in job creation, poverty eradication and ensuring inclusive economic development across all 54 African countries including Nigeria.
The Harvard Business school, which had trained out world class Leaders over the years and established businessmen and women may have followed the track record of the foundation since it was launched in 2010 and how its has trained well over 1.5 million young African entrepreneurs on its digital hub., TEFCONNECT and disbursed about $100million in direct funding to over 18,000 African entrepreneurs who were said to have created over 400,000 direct and indirect jobs in the African Continent.
The school was said to have particularly looked at the Foundation’s mission which is rooted in Africapitalism , which positions the Private sector , a the catalyst for social and economic development of the African Continent. The robust ability of the world –class Foundation to reach out to entrepreneurs across the 54 African countries and conduct innovative partnerships with the European Union, EU, United Nations Development Program me, UNDP, the International Committee of the Red Cross, Us Government through the country’s African Development Foundation and the African , Caribean and Pacific States , OACPS, including the French development Agency, AFD, the German Development Institution African Development Bank was very revealing in helping out in the empowerment and growth in the fragile states in the African Continent which may have propelled the US Business to carry out the case study on the Nigerian base Tony Elumelu Foundation. On its impact on African entrepreneurs.
The cae study, described as the first of its kind to be conducted on any African philanthropist, was said to have been launched on Thursday, February 29, 2024, before a class of graduate students at the Harvard Business School. The Harvard Business School Case study on the Tony Elumelu Foundation, whose founder, Elumelu, is currently on the list of President Bola Ahmed Tinubu, Presidential Advisory Committee to reposition the Nigerian economy which had ben on the brink of collapse over the years had been applauded by many as great work. The case study , according to experts had explored the Foundation’s unique and transformative approaches in development, exposing how the strategic philanthropy that was said to have been offered by TEF,’’ is driving positive change and elevating counries and communities in the African Continent.
Going by the US based Harvard Business case study on Tony Elumelu Foundation , it is increasingly developing ‘’a partnership-based approach , working with various Financial Institutions , both within and outside the African Continent to develop bespke programmes focused on less developed countries within the African Continent female entrepreneurs and sustainability initiatives’’.
Elumelu, the multibillionaire business mogul, may have used the opportunity of the Launching of the case study on TEF at the Harvard Business School to speak out. He had said that ‘’the Foundation is creating economic hope and opportunity for African entrepreneurs’’.
He was said to have stated further to the applaud of the guests when he stated ‘’that entreprenurship is the solution to youth unemployment and insecurity in Nigerian and other African countries. He noted that through the intervention of TEF, across the African Continent over the last fifteen years or thereabout, it has succeeded in various ways in transforming the young people and giving them hope . He may have shocked guests who had showed for the Launching of the Harvard Business School, case study on TEF, when he declared that ‘’ collectively with our contribution, ‘’all of us can resolve the economic and security challenges that face the African Continent.
An appreciative Elumelu, had said that ‘’it is wonderful to work with HBS, to spotlight TEF successes , acknowledge the challenges that the Foundation had faced and provided opportunity to spread the experience for the benefit of others’’. This is an opportunity for multi-billionaire mogul, Aliko Dangote, TY Danjuma, described as the wealthiest investor on the Nigerian Stock Exchange Market, Strive Masiyiwa, and other wealthy Africans who have well-funded Foundations , across the African Continent to take a cue from what TEF, had done over the years in improving the continent’s economic fortune to do similar thing by investing on generations of young entrepreneurs to create more jobs in the African Continent.
The HBS , Launching of the TEF , case study , may have turned out to be very rewarding as the Harvard Business session was said to have provided an opportunity ‘’to engage in a meaningful discussion on the role of philanthropy in shaping sustainable and inclusive economics’’.
HBS , Authorities may have gladdened the heart of participants at the Launching of the Tony Elumelu case study, when it asserted that ‘’as the world grapples with complex economic challenges and demographics, climate change and sustainability , ‘’TEF, offers a fascinating model of how strategic philanthropy can be a driving force for positive change in the African Continent’’.
