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Entrepreneurship Key To Unlocking Africa’s Economic Development – Elumelu



The founder and chairman of the Tony Elumelu Foundation (TEF), Tony O. Elumelu, has reiterated his commitment to championing Africa’s economic development by supporting and training a new generation of entrepreneurs whose successes can transform the continent, delivering opportunity, job creation and social impact.

Elumelu explained that his conviction is that entrepreneurship is the key to unlocking Africa’s economic transformation and that Africa’s future is in the hands of Africans.

Speaking at the annual TEF Entrepreneurship Forum, which is the largest gathering of African entrepreneurs in the world, at the 4th annual TEF Entrepreneurship Forum held at Federal Palace Hotel, Victoria Island, Lagos, which had over 5,000 African entrepreneurs, private and public sector leaders and the broader entrepreneurship ecosystem, he said the TEF is a unique opportunity for bringing together young business talents, creating dynamic networks and transmitting the message to policymakers that a vibrant and responsible private sector will deliver economic transformation.

He said: “Our Foundation and its unique approach of training, mentoring and funding has proven that entrepreneurship is the key to unlocking economic transformation of our continent. I believe so strongly that success can be democratized and if we can match ambition to opportunities, this extraordinary generation can achieve anything.”

Now in its fourth year, the Forum marked the graduation of the 2018 cohort of the TEF Entrepreneurship Programme, following a rigorous nine-month period of training, mentorship and funding, bringing the total number of beneficiaries of the programme to 4,470, with over 300,000 applications received to date.

Commencing with a series of goodwill messages from key stakeholders in the investment, governmental and development communities, the event featured a pitching competition, panel discussions, as well as a vibrant interactive session between Ghanaian President Nana Akufo-Addo and the entrepreneurs, moderated by Tony Elumelu.

The Forum also featured a session on the role of the private sector in Africa’s economic development with Dr. Awele Elumelu, TEF trustee, founder, Avon Medical, and Gavi Champion for Immunisation in Africa, moderated by Eleni Giokos, CNNMoney Africa Correspondent.



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