BUJUMBURA January 21st (ABP) – The Tony Elumelu Foundation (TEF), the leading philanthropic organization empowering young African entrepreneurs, based in Nigeria, has been opening applications since January 1, 2022 for its Entrepreneurship Program 2022 edition on tefconnect.net.
African entrepreneurs with business ideas or existing businesses less than 5 years old are encouraged to apply now for $5000 seed capital, mentorship, business management training and more.
Since 2015, the TEF Entrepreneurship Program the only catalyst for African entrepreneurship has already funded approximately 15,847 African entrepreneurs with a non-refundable seed capital of $5,000 each; twelve weeks of training in business management; access to experienced mentors and membership in Africa’s largest entrepreneurial ecosystem.
In 2021, The Tony Elumelu Foundation awarded US$24.75 million to 5,000 African entrepreneurs across Africa for its Entrepreneurship Program 2021. The Foundation’s Entrepreneurship Program remains one of the biggest responses private sectors to drive the economic recovery of African youth, women and Small and Medium Enterprises (SMEs) given the effects of the covid19 pandemic across Africa. Beneficiaries of the Tony Elumelu Foundation Entrepreneurship Program launch and grow pioneering businesses that have collectively created more than 400,000 direct and indirect jobs.
“We are constantly blown away by the quality of companies that come from Africa every year. This motivates us to intensify our efforts to empower even more entrepreneurs on the continent. The innovation, knowledge and resilience of African entrepreneurs are key to charting Africa’s socio-economic transformation and achieving the continent’s development goals”; said Mrs. Ifeyinwa Ugochukwu the CEO of TEF as she officially launched the application submission. “We are also proud of the increased participation of women in our program, especially with the 2021 cohort where we witnessed a record 68% selection of female entrepreneurs. “, she continued
With regard to Burundi, that entrepreneurship program of the Tony Elumelu Foundation has already, since 2015, around 100 young people, including 34 for the edition that has just ended (2022). That figure is still low compared to other countries in the sub-region (East African Community). For one and the other the cause is not at all distant. “It’s access to the internet that always blocks our way”, confided some young people who tried their hand at the 2021 edition but who, unfortunately, were not lucky enough to be selected who maintained with the check by ABP. They claim that this program is too demanding and requires a strong and reliable internet connection but also and above all to be in possession of a computer. All the time they confide that they are determined and that they cannot, in any case, let go: “We will, another time, apply for this year and God helping us will be selected”, they affirm.
Meanwhile, some Burundian entrepreneurs benefiting from this program say they are satisfied with the fact that thanks to the TEF Entrepreneurship Program, they have taken a significant step in their entrepreneurial journey. Audace Ndabahawe is one of them. He is the Managing Director of GISABO TOURS, a company committed to promoting tourism. He considers the impact of this program to be overwhelming. “We had access to a lot of material that we did not have had it not been for the intervention of this program. Thanks to the program, we have a professional camera which helps us in taking photos during tourist tours but also we have been able to obtain a vehicle which helps us during the trips that we often organize, without forgetting the jobs, whether full-time or part-time, which have been created,” he said. Mr. Ndabahawe calls on young Burundians to seize this opportunity by applying massively to the Program: “This is one of the opportunities that can open up horizons for us and help be self-sufficient, but also and above all, create jobs and participate in the reduction of unemployment which is a reality in Burundi”, he added.
The Tony Elumelu Foundation Entrepreneurship Program is open to entrepreneurs across Africa including new businesses and existing ones operating in any sector. Potential candidates are encouraged to apply now at www.tefconnect.net.