• Wed. May 22nd, 2024

More than 200,000 young African entrepreneurs have successfully completed the entrepreneurship training provided by TEF


Jun 20, 2021

BUJUMURA June 20th (ABP) – The Tony Elumelu Foundation (TEF), the leading philanthropic organization in Africa that empowers young African entrepreneurs from 54 African countries, has successfully completed the training of over 200,000 entrepreneurs in basic skills in business management as part of its TEF 2021 entrepreneurship program, as revealed in a press release issued on Tuesday, June 15, 2021 from Lagos (Nigeria) by the said foundation.

According to the press release, business management training was delivered exclusively on TEFConnect, the foundation’s proprietary digital platform that provides capacity building program, advice and business networks to more than one million people of Africa.

The business management training of the TEF Entrepreneurship Program provides entrepreneurs with the essential skills needed to start and manage their businesses at an early stage of growth, with a unique curriculum that encompasses topics on starting, running and business fundamentals, leadership and business growth, selecting and building a team. Entrepreneurs are effectively equipped to drive growth in a business, as well as profitability and lasting success.

The training, which is one of the 7 pillars of TEF’s entrepreneurship program, was delivered in official African languages, including English, French, Portuguese and Arabic, and over 40% of participants trained were women. Learners were invited to weekly briefings, as part of the training, to address relevant concerns and share essential program updates.

All entrepreneurs received active support from coaches and mentors who provided technical advice and one-on-one interaction throughout the training program.

“Each year, our commitment to transform Africa is further reinforced by the passion, resilience and talent of the high-quality entrepreneurs who join our flagship program. Our program offers a holistic opportunity for entrepreneurs to learn, grow and contribute to the development of their communities,” said Mrs. Ifeyinwa Ugochukwu, CEO of TEF, speaking on that important step taken.

“Furthermore, it is a testament to the eagerness and willingness of entrepreneurs across Africa to make themselves available to transform the continent for good. I would like to congratulate these entrepreneurs for their discipline, dedication and hard work throughout the training and look forward to the immense impact of their businesses in various sectors in Africa. We remain committed to giving African entrepreneurs the necessary resources and support that will ensure their businesses can scale and drive lasting change on the continent,” she continued to say.

The same press release specifies that this training is immediately followed by a business plan review process for each entrepreneur. The most successful entrepreneurs then participate in the start-up phase of the program, after which successful entrepreneurs receive non-repayable seed capital of $ 5,000 each.

In 2020, the Tony Elumelu Foundation celebrated ten years of impact. It has already empowered and funded nearly 10,000 African entrepreneurs from 54 African countries under its US $ 100 million TEF entrepreneurship program.

The Tony Elumelu Foundation is inspired by Tony Elumelu’s economic philosophy of Africapitalism, which positions the private sector, and especially entrepreneurs, as the main catalyst for the long-term social and economic development of the African continent. As far as Burundi is concerned, 64 national entrepreneurs have already benefited from that program.