Dimday, June 1, 2021 / 5:50 PM / Per Tony Elumelu Foundation / Header image credit: TEF & DEG
, The leading African philanthropy empowering young African entrepreneurs in 54 African countries, has partnered with SDR, the German development financial institution that supports the private sector in emerging market countries, to train an additional 200 entrepreneurs across Africa.
The initiative will fund an additional 200 young African entrepreneurs to complement the US $ 100 million Tony Elumelu Foundation Entrepreneurship Program which has identified, trained, guided and funded more than 9,000 entrepreneurs from 54 African countries since 2015. The association it will also help you climb TEFConnect, the Foundation’s proprietary digital platform that supports African entrepreneurs and provides access to the platform to an additional 500,000 SMEs. The initiative is co-funded by DEG with 1.5 million euros from the develoPPP Program funded by the German Federal Ministry for Economic Cooperation and Development (BMZ).
In line with the development policy of TEF and DEG, the association will create jobs and income, drive economic growth and generate local value in Africa. It will make important contributions to the United Nations Sustainable Development Goals (SDGs) by providing funding, technical skills and comprehensive business readiness to drive better performance for SMEs in line with SDG 1 (No Poverty), SDG 8 ( Decent work and economy). Growth) and SDG 9 (Industry, Innovation and Infrastructure).
Entrepreneurs will be connected with network support for further skills development, knowledge sharing and market links through a lifetime subscription TEFConnect. In addition, a periodic impact assessment of up to 10,000 SMEs will be conducted through the partnership to report on policies and laws that improve the environment of small businesses in Africa. directly catalyzing Africa’s economic growth and contributing to the continent’s prosperity and social development.
Commenting on the partnership, Tony Elumelu Foundation CEO Ifeyinwa Ugochukwu said: “In our continued quest to invest in African entrepreneurs, this partnership will fully empower young entrepreneurs to grow their businesses. a global player in fostering efforts in emerging markets and developing economies to generate employment, which is a mission we pursue through entrepreneurship.African entrepreneurs are the engines of growth, innovation and wealth creation in Africa and there is no better time to invest in its development.this partnership encompasses the entire business value chain and will create a great opportunity for entrepreneurs to build their businesses, while providing them with the skills needed to sustain business growth “.
Bernd Tilemann, head of DEG’s West Africa office, added that “DEG is delighted to begin this cooperation and is especially eager to support TEF’s digitization efforts and drive for impact and its critical appraisal, which are issues that DEG is very passionate about. “.
The Tony Elumelu Foundation’s $ 100 million Entrepreneurship Program was launched in 2015 to empower 10,000 entrepreneurs over ten years. Successful applicants receive world-class business training, mentoring, $ 5,000 non-refundable start-up capital, and global networking opportunities. The program is open to entrepreneurs from all African countries, both new and existing young companies, operating in all major economic sectors.
1. The Tony Elumelu Foundation is collaborating with Stanford University on new research on African entrepreneurship
2. The Tony Elumelu Foundation publishes an annual letter for 2020
3. The Tony Elumelu Foundation is looking for Africans for their application for the 2021 entrepreneurship program
4. The Tony Elumelu Foundation announces three executive appointments
5. The Tony Elumelu Foundation disburses the first tranche of the BAD’s $ 5 million collaboration commitment
The Tony Elumelu Foundation announces the opening of the application for TEEP 2020
7. The Tony Elumelu Foundation will announce the program of selected entrepreneurs for 2019 on March 22, 2019
8. The Tony Elumelu Foundation opens applications for the 5th cycle of the $ 100 million entrepreneurship program
9. Announced the 4th Annual Entrepreneurship Forum of the Tony Elumelu Foundation for October 25, 2018
10. How SMEs can help curb inflation in Nigeria
11. Family businesses are central to the economies of the West African region
12. The Tony Elumelu Foundation publishes an annual letter for 2020
13. AXA Mansard authorizes women entrepreneurs
14. The Dangote Foundation will disburse $ 3 billion to women, young people from 11 states in Nigeria
15. The Tony Elumelu Foundation is looking for Africans for their application for the 2021 entrepreneurship program
16. Three skills to cultivate to achieve financial independence
17. NCOY: FirstBank drives the next generation of Nigerian innovators and entrepreneurs
18. The TEF and the EU are teaming up to transform the economic empowerment of African women