• Sat. Dec 4th, 2021

Some 34 Burundians have been selected for the Tony Elumelu Foundation entrepreneurship program, 2021 edition

ByWebmaster

Nov 25, 2021

BUJUMBURA November 24th (ABP) – The Tony Elumelu Foundation (TEF), the leading philanthropic organization, based in Lagos, Nigeria, which empowers entrepreneurs in 54 African countries, presented on Friday the 4,949 candidates selected for its program of entrepreneurship edition 2021, according to the press release released on that occasion and reached a check by ABP.

Some 34 Burundians were fortunate enough to be among those successful candidates even though there was a decline observed compared to the 2019 edition where 54 Burundians out of around 200 who submitted their applications were selected. Each applicant will have a $ 5,000 non-refundable seed capital and other related benefits such as membership in the alumni network, mentorship and many more.

The beneficiaries of the Tony Elumelu Foundation entrepreneurship program 2021 edition were selected from a pool of more than 400,000 applications, based on their innovation, performance and growth potential to create jobs and eradicate poverty on the continent, according to the same press release. Comprised of both new start-ups and existing small businesses, the 2021 Tony Elumelu entrepreneurs have completed training and had access to mentorship, world-class coaching and will have lifetime access to the network of former beneficiaries of the Tony Elumelu Foundation. “To you young African entrepreneurs, work hard, dream and be very disciplined and ambitious. You have to keep thinking about the impact. The journey of entrepreneurship is not linear, there are ups and downs, but by staying focused and resilient, success will ultimately come to you. The future of our continent is in your hands. What you do as entrepreneurs will go a long way in lifting Africa out of poverty. I am happy that our women entrepreneurs are doing very well, with a representation of 68% this year,” said the Founder of the Tony Elumelu Foundation, Mr. Tony Elumelu, through a special address on that occasion.

To our African leaders, these smart, energetic, hardworking and resilient young Africans are ready for change. They must continue to create the right enabling environment for our young people to succeed. They must understand that their success is the success of all of us, he added.

We must give them priority because the nations and continents that put their people first are successful. To my fellow business leaders, let’s realize that in the 21st century and beyond, it’s about impact, legacy and how we work together to lift people and especially young people out of poverty. It is such a great feeling to see 5,000 young Africans starting their own entrepreneurial journey today. », he continued.

Speaking at that event, the Director General of International Cooperation and Development of the European Commission, Mr. Koen Doens said he was happy that more than 2,400 women will benefit from the FTE entrepreneurship program by receiving capital seed to realize their entrepreneurial dreams.

Speaking on behalf of the Organization of African, Caribbean and Pacific States (ACP), Mr. Georges Rebelo Pinto Chikoti of this Organization warmly congratulated the Tony Elumelu Foundation for this “extraordinary” achievement. “We are proud to have partnered with TEF and our long-standing partner, the European Union (EU), to unleash the potential of 2,420 young African women through this TEF Entrepreneurship Program, providing mentorship and financing, to develop and support these small businesses”, he specified.

“Today, we have trained ten times more young African entrepreneurs than we have trained from 2015 to 2019 combined.

For the 2021 edition, “we will pay a record amount of 24,750,000 USD directly to entrepreneurs in 54 African countries,” said the executive director of the Tony Elumelu Foundation, Mrs. Ifeyinwa Ugochukwu. She also said that, since its creation, the Tony Elumelu Foundation has now funded a total of 15,847 entrepreneurs who have created more than 400,000 direct and indirect jobs.

Remember that applications for TEF 2022 edition open on January 1, 2022, on www.tefconnect.com.