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Business News of Thursday, 25 October 2018

Source: TEF

Over 5,000 entrepreneurs in Lagos for 2018 TEF Entrepreneurship Forum

[L-R] Tony Elumelu, Chairman of UBA; Seladie Aduo, TEF beneficiary with President Akufo-Addo [L-R] Tony Elumelu, Chairman of UBA; Seladie Aduo, TEF beneficiary with President Akufo-Addo

Over 5,000 young African entrepreneurs who are funded, trained and mentored by the Tony Elumelu Foundation (TEF), Africa’s leading entrepreneurship-focused philanthropic organization have converged at the fourth annual TEF Entrepreneurship Forum underway in Lagos, Nigeria.

The largest gathering of African entrepreneurs and the broader entrepreneurship ecosystem, according to the Foundation would unite the over 5,000 entrepreneurs, global investors, leaders from the African public and private sectors and developmental organizations at the Federal Palace Hotel, Lagos.

The event is a unique opportunity to generate ideas, forge networks and bring policymakers and the private sector together, in a spirit of robust debate and interaction.

Welcoming the entrepreneurs to the Forum, TEF CEO, Parminder Vir OBE announced that the Foundation with partnerships from the International Committee of Red Cross (ICRC), GTZ, and others had increased the number of this year’s young entrepreneurs to 1,460.

The figure exceeds the annual target of 5,000 young entrepreneurs.

According to Mrs Vir OBE, in its 4th year, TEF Entrepreneurship Programme has empowered 4,460 entrepreneurs with a total investment of USD20million; 4,000 funded directly by the Foundation and 460 have been funded by partners.

In a short statement, the Group Director of Marketing and Communications of United Bank for Africa (UBA) Plc, Madam Bola Atta said: “Together we can make a difference to our continent”.

Dignitaries expected at the event include the heads of state of Ghana and Kenya Nana Addo Dankwa Akufo-Addo and Uhuru Kenyatta respectively.

Those already seated at the venue in Federal Palace hotel include- the Founder and Chairman of the Tony Elumelu Foundation, Mr Tony Elumelu. Mr. Peter Obi, vice presidential candidate of the Peoples Democratic Party, PDP, Executive Governors-A. Bagudu and Mohammed Abubakar of Kebbi and Bauchi.

Instructively, the Tony Elumelu Foundation (TEF) is Africa’s leading entrepreneurship philanthropy. Inspired by Tony Elumelu’s economic philosophy of Africapitalism and his vision to institutionalise luck and democratise opportunity for a new generation of African entrepreneurs, the Tony Elumelu Foundation has implemented one of the most ambitious entrepreneurship programmes globally.