fbpx
Connect with us

Business

We Spent $100m To Empower African Entrepreneurs – Tony Elumelu

The Founder of the Tony Elumelu Foundation (TEF), Tony Elumelu, announced that the foundation…

Published

on

Tony O. Elumelu
Tony Elumelu

The Founder of the Tony Elumelu Foundation (TEF), Tony Elumelu, announced that the foundation has empowered over 18,000 young African entrepreneurs since its inception.

VerseNews reports that he stated this yesterday in Abuja during an interactive session with the EU Commissioner for International Partnerships, Ms. Juta Urpilainen who was visiting Nigeria for the first time.

Elumelu discussed the TEF’s commitment to providing seed capital and training to young entrepreneurs.

Advertisement

The TEF has dedicated $100 million to support these entrepreneurs, creating over 400,000 jobs in the process.

“The Tony Elumelu Foundation has committed 100 million dollars to impact 18,000 young African entrepreneurs by giving them a seed capital of $5,000 and training them for six weeks as well as providing mentors to coach them. They in turn have gone to create thousands of jobs, which is the impact we want to see.

“The partnership with the EU is to deepen our collaboration. Beyond the TEF, I try to attract investments into Africa and Nigeria, the visiting delegation is even more focused on business than entrepreneurship and we believe that the ultimate to peace and security is empowerment. It is not about handouts but practical economic empowerment.

Advertisement

“The impact report of the foundation shows that it has created over 400,000 jobs and we will continue to invest more in youth entrepreneurship,” he said.

The collaboration with the EU aims to deepen this effort and promote mutually beneficial partnerships.

The EU has earmarked £150 million in funding for Africa by 2027, with a focus on energy, digital, and transport infrastructure.

WhatsAppCOnnect

Stay ahead with VerseNews. Get the latest breaking news, insightful analysis, and trending stories. Your go-to source for timely updates and unbiased reporting.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

WATCH: Nigeria Newspaper Headline Today

Apply For Latest Job Openings

Trending

'My Wife's Ring Can Buy 2 Or 3 Rolls Royce' - Davido Brags As Chioma Flaunts $1 Million Diamond Ring (Video) 'My Wife's Ring Can Buy 2 Or 3 Rolls Royce' - Davido Brags As Chioma Flaunts $1 Million Diamond Ring (Video)
Entertainment1 month ago

‘My Wife’s Ring Can Buy 2 Or 3 Rolls Royce’ – Davido Brags As Chioma Flaunts $1 Million Diamond Ring (Video)

Nigerian Afrobeat star Davido and his fiancée Chioma Rowland, who are set to wed on June 25th, made headlines as...

Labour Party Leadership Crisis Resolved As Abure and Apapa Factions Unite Labour Party Leadership Crisis Resolved As Abure and Apapa Factions Unite
Politics1 month ago

BREAKING: Labour Party Leadership Crisis Resolved As Abure and Apapa Factions Unite

The Labour Party's leadership crisis has ended as factions led by Julius Abure and Lamidi Apapa reconciled to present a...

EXCLUSIVE: Nigerians To Start Using Three-In-One National Identity Card Soon EXCLUSIVE: Nigerians To Start Using Three-In-One National Identity Card Soon
News1 month ago

EXCLUSIVE: Nigerians To Start Using Three-In-One National Identity Card Soon

NIMC is set to launch a versatile three-in-one identity card for Nigerians, featuring payment capabilities and social service functionalities, following...

HND Holders From Polytechnics Must Undergo One-Year Mandatory Training - FG HND Holders From Polytechnics Must Undergo One-Year Mandatory Training - FG
Education1 month ago

HND Holders From Polytechnics Must Undergo One-Year Mandatory Training – FG

Dr. Folasade Yemi-Esan, Head of the Civil Service, has mandated HND holders to undergo a one-year training before promotion to...

EFCC Arrests Two Ex-Union Bank Employees For Stealing N4.2m From A Dead Customer's Account EFCC Arrests Two Ex-Union Bank Employees For Stealing N4.2m From A Dead Customer's Account
News1 month ago

EFCC Arrests Two Ex-Union Bank Employees For Stealing N4.2m From A Dead Customer’s Account

The EFCC arrested two former Union Bank employees in Makurdi for embezzling N4.2 million from a deceased customer's account.

Christ Embassy Church Headquarters in Lagos On Fire Christ Embassy Church Headquarters in Lagos On Fire
News1 month ago

BREAKING: Christ Embassy Church Headquarters in Lagos On Fire (Video)

The Christ Embassy Church headquarters in Ikeja, Lagos caught fire on Sunday morning.

BREAKING: Finidi George Resigns As Super Eagles Head Coach BREAKING: Finidi George Resigns As Super Eagles Head Coach
Sports1 month ago

BREAKING: Finidi George Resigns As Super Eagles Head Coach

Finidi George resigns as the head coach of the Super Eagles, following the NFF's plan to hire a foreign technical...

Tension As President Tinubu Falls, Hits Head On Parade Vehicle During Democracy Day Tension As President Tinubu Falls, Hits Head On Parade Vehicle During Democracy Day
News1 month ago

Tension As President Tinubu Falls, Hits Head On Parade Vehicle During Democracy Day (Video)

Nigerian President Bola Tinubu stumbled and fell during the June 12 Democracy Day parade, sparking renewed concerns about his health.

Democracy Day: FG Announces Date for Public Holiday Democracy Day: FG Announces Date for Public Holiday
News2 months ago

Democracy Day: FG Announces Date for Public Holiday

The Federal Government has announced June 12 as a public holiday to celebrate Democracy Day.

5 Best Video Interview Software You Should Be Using 5 Best Video Interview Software You Should Be Using
Career News2 months ago

5 Best Video Interview Software You Should Be Using

Zoom, HireVue, and Spark are some of the best video interview software. These tools enhance efficiency, improve candidate experience, and...

Advertisement