• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Saturday, August 2, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

400,000 Jobs Created As Elumelu Foundation Supports 20,000 African Startups With $100m Capital

by Leadership News
9 months ago
in News
Share on WhatsAppShare on FacebookShare on XTelegram

Heirs Holdings and the Tony Elumelu Foundation (TEF) have provided $5,000 in seed capital to 20,000 young African entrepreneurs each to spur economic growth across the continent with the initiative translating to the creation of 400,000 jobs.

Advertisement

The announcement was made during the Future Investment Initiative New Africa Summit in Saudi Arabia, where the chairman of Heirs Holdings and Founder of TEF, Tony Elumelu, discussed the role of entrepreneurship in addressing high unemployment and infrastructure deficits in Africa.

The billionaire businessman disclosed this on a LinkedIn update on Monday following a fireside chat moderated by CNN host Eleni Giokos.

“In demonstrating Africapitalism, our group, Heirs Holdings, partners with the Tony Elumelu Foundation, our family-funded philanthropy committed to empowering young African entrepreneurs with $5,000 in non-refundable seed capital, world-class mentorship, and business training to help them build thriving businesses.

“To date, we have empowered 20,000 young men and women who have gone on to create 400,000 direct and indirect jobs — this is our way of changing Africa,” he stated.

RELATED

‘Fuel Price Fall Predicted As Port Harcourt Refinery Begins Operation’

Nigeria Retains Continent’s Top Petroleum Refining Position

29 seconds ago
Wema Bank Rewards 131 Customers With N11m In ‘5 For 5’ Promo Monthly Draw

Wema Bank Grows Profit by 231% in H1 2025

2 minutes ago

Elumelu, however, cautioned that access to capital alone cannot solve all challenges.

“If you want to develop, you must improve access to electricity, reform taxation systems, and create policies that ease challenges for entrepreneurs to succeed,” he said.

Elumelu stressed that while the private sector provides funding and economic opportunities, governments needed to create an enabling environment for businesses to thrive. “Too often, entrepreneurs are stifled,” he noted, calling for strategic private-public partnerships to advance Africa’s progress.

He concluded by commending Richard Attias, Chief Executive Officer of the FII Institute, for fostering a platform that amplifies Africa’s voice on the global stage.

The TEF chairman remained resolute that Africa can harness its strengths to transform challenges into opportunities, ultimately leading to sustainable economic growth.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




Tags: Tony Elumelu
SendShareTweetShare
Previous Post

Fordax Business School Recommits To National Development

Next Post

NASENI, Imose Roll Out Made-in-Nigeria Laptops, Tablets

Leadership News

Leadership News

You May Like

‘Fuel Price Fall Predicted As Port Harcourt Refinery Begins Operation’
News

Nigeria Retains Continent’s Top Petroleum Refining Position

2025/08/02
Wema Bank Rewards 131 Customers With N11m In ‘5 For 5’ Promo Monthly Draw
Business

Wema Bank Grows Profit by 231% in H1 2025

2025/08/02
United Capital Appoints Uche Ike As New Chairman
Business

United Capital Appoints Uche Ike As New Chairman

2025/08/02
Firm To Lead Africa’s Infrastructure Revolution Innovation
Business

Firm To Lead Africa’s Infrastructure Revolution Innovation

2025/08/02
Engineers Offer Action To Achieve Low-Carbon Solutions
Business

Engineers Offer Action To Achieve Low-Carbon Solutions

2025/08/02
IE Sustains Electricity Supply With Commissioning 15 MVA Injection Substation
Business

IE Sustains Electricity Supply With Commissioning 15 MVA Injection Substation

2025/08/02
Leadership Conference advertisement

LATEST

Nigeria Retains Continent’s Top Petroleum Refining Position

Wema Bank Grows Profit by 231% in H1 2025

United Capital Appoints Uche Ike As New Chairman

Firm To Lead Africa’s Infrastructure Revolution Innovation

Engineers Offer Action To Achieve Low-Carbon Solutions

IE Sustains Electricity Supply With Commissioning 15 MVA Injection Substation

Customs Begins Migration To Authorised Economic Operator Scheme

Private Sector Jobs Hit 21-month High On Strong Business Activity

We’re Working To Reduce Child Trafficking In Ebonyi – Groups

School Cries Out Over Poor Accommodation, Infrastructure

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.