The Tony Elumelu Foundation says the only way to alleviate poverty on the African continent is to create a culture of entrepreneurship.
The fourth Tony Elumelu Fellowship Entrepreneurship Forum is currently under way in Lagos, Nigeria. It’s the biggest forum on the African continent – and trains 1 000 entrepreneurs for an intense 12-week programme.
The Tony Elumelu Foundation was established in 2010 and launched in 2015. The main aim is to raise entrepreneurs who will contribute to the economy and win the war against poverty on the African continent.
Founder, Tony Elumelu, came up with the African Capitalism Concept and is now inspiring and funding young people to be at the forefront of global change.
Thousands of entrepreneurs, investors and leaders across the globe are in attendance. The entrepreneurs who benefited from the Tony Elumelu Foundation are now running their own businesses. They say the forum helped them to get on the right business trajectory.
A South African based in Nigeria, Karin Rheeder has been with the foundation since its inception. She mentors entrepreneurs from across Africa.
Rheeder is of the firm belief that Africa needs to change its narrative.
“The three months prepare them to do a business plan, which they submit and get a seed funding. It is very important because Africa needs to change our attitude, and become entrepreneurs and make our own lives and create our own future. And I am so excited about the youth, because I just see that they connect, and if the Tony Elumelu Foundation reaches its goal, it means that we gonna connect youth all over Africa. We are going become one massive force – the economy of everyone.”
The foundation already created 12,000 jobs and contributed $2 million of direct seed, and capital to 4,000 entrepreneurs to set foot on the entrepreneur platform.
CEO of the Tony Elumelu Foundation, Parminder Vir says Africa is rich, and its resources need to be utilised.
The president of Kenya, Uhuru Kenyatta and President of Ghana Nana Akufo-Addo are also in attendance. It is expected that the largest digital platform for entrepreneurs – the TEFconnect – will also be launched at the forum.
Happening Now: Watch the Largest gathering of African Entrepreneurs at the TEF ENTREPRENEURSHIP Forum 2018. Join th… https://t.co/OySSdfAt49
— Tony O. Elumelu, CON (@TonyOElumelu) October 25, 2018