• President
Koroma of Sierra Leone, President Obasanjo of Nigeria, Governor Ikpeazu, Minister Lai
Mohammed, Mrs Folorunsho Alakija, Join 1,000 African
Entrepreneurs At 2016 Tony Elumelu Foundation Entrepreneurship Forum.
• Foundation
Announces Partnerships with African Development Bank, ECOWAS,
Coca-Cola, Nigerian Ministry of Information.
At the largest annual gathering of African
entrepreneurs, held in Lagos, Nigeria, the Tony Elumelu Foundation
(TEF) hosted almost 1,000 women and men from 54 African
countries, for the 2nd TEF Entrepreneurship Forum.
The Forum celebrates the 2016 cohort of Elumelu Entrepreneurs,
selected from over 45,000 applicants. It is
the annual highlight of the Tony
Elumelu Entrepreneurship Programme and saw the presence
of leading policy makers and business leaders from across
Africa, giving their support to the
Foundation and its promise to identify, train, mentor and seed 1,000
entrepreneurs in a decade-long $100
million commitment. Following the Forum, each
entrepreneur is eligible to receive up to $10,000 to implement their
business plan.
Applauding Tony Elumelu’s promise to not only
empower entrepreneurs, but also to tackle the fundamental
economic challenges confronting the African continent, His Excellency
Ernest Bai Koroma, President of Sierra Leone called on others to emulate
Elumelu. “Even when we had Ebola in Sierra Leone, Tony was there. His is
an example which other successful Africans must follow.”
Focusing on the uniqueness of TEF’s approach to
entrepreneurship development, President Koroma hailed the programme as "a
genuinely innovative approach to philanthropy in Africa –
an African offering African solutions."
"What is unique about this programme is that it not only
provides a platform for entrepreneurs to build connections, but they are also
being taught how to build their businesses in a sustainable way. Other philanthropists
will be inspired to support and promote this philosophy" the
President concluded.
In his keynote speech, Mr. Elumelu stated "I salute those
here, our ambition is that you become ambassadors for entrepreneurship in
Africa – you are a generation of wealth creators, who share our commitment to
the economic and social transformation of Africa. Let me tell you about Momarr Mass Taal,
the CEO of Tropingo Foods, who has turned his first $5,000 seed
capital received from the Foundation last year, into a $1.2 million
revenue business. We all want many more of these! However, as excited as I
am about the 2,000 entrepreneurs that we have selected, this gathering is in
some ways bittersweet, as I reflect on the 63,000 ideas received in the Programme’s
short two years of existence we were unable to select – our commitment is
to all entrepreneurs in Africa."
Mr Elumelu challenged all stakeholders from the public
and private sectors, civil society, multilateral organizations and all
individuals invested in Africa’s economic development to join hands with the
Foundation to support the wider African entrepreneurial community. "We
need to support our entrepreneurs because extreme poverty and economic
opportunity rarely coexist in the same place."
He also announced partnerships with regional institutions
the African Development Bank, ECOWAS, and others including Coca Cola, the
International Trade Centre, Nigerian Ministry of Information, Culture and
Tourism and Côte d’Ivoire Ministry of Entrepreneurship.
The two-day forum buzzed with energy as entrepreneurs
shared and gained knowledge, built cross-border partnerships, and connected
with investors and policymakers, fulfilling the goal of fostering
innovation and collaboration between entrepreneurs from across
Africa.
On Day One, attendees benefited from
masterclasses on traditional and alternative means of financing, sales and
marketing, as well as sector specific workshops and an in-depth session on
Africapitalism - Elumelu’s economic philosophy that identifies
the leading role of Africa’s private sector, including its
entrepreneurs, in Africa’s transformation.
In her opening remarks, Mrs. Awele Elumelu, CEO Avon
Medical, Trustee of the Foundation and wife of Founder, Mr. Elumelu, welcomed
the entrepreneurs to Lagos and commended their drive and effort in finding
solutions to some of the continent’s most pervasive challenges. The CEO of
the Foundation, Ms. Parminder Vir, invited entrepreneurs in the audience to
continue to build the future and to challenge the flawed
perceptions of Africa.
Day Two featured a high-level
panel dedicated to identifying policies to strengthen the
enabling environment for entrepreneurs, moderated by BBC anchor, Lerato
Mbele, with panellists including His Excellency Ernest Bai Koroma, President of
Sierra Leone, President Olusegun Obasanjo, Former President of
Nigeria, Former Prime Minister of Benin RepublicLionel Zinsou, Alhaji Lai
Mohammed, Honourable Minister of Information, Tourism and Culture and Mrs.
Folorunsho Alakija, Vice Chair of Famfa Oil.
Opening the High-Level Panel, Mrs. Alakija
congratulated the entrepreneurs, praised TEF’s focus on entrepreneurship and
shared her own personal story of perseverance to demonstrate the
entrepreneurs need for resilience and doggedness. Former President Olusegun
Obasanjo hailed Elumelu's perseverance and focus on giving back. "By every
means, God has made His face shine upon you. You are not the only one, but
unlike you, some others do not have the idea of empowering the next generation
of Africans in the manner and scale that you are doing." He
further emphasized patience to the young entrepreneurs. In his words, “For
strength in life you need a bit of adversity.” He also called on the
Nigerian government to implement policies that encourage investors
and entrepreneurs to do business in Nigeria. Former Prime Minister of Benin,
Lionel Zinsou, commended the Tony Elumelu Foundation, stating “What Tony
Elumelu is doing is the exception, not the norm.”
Other speakers at the event included Clare Akamanzi,
Representative of President Kagame of Rwanda, Kennedy Uzoka, Group CEO
of the United Bank for Africa Plc (UBA), Minster of Solid
Minerals, Hon. Kayode Fayemi, Segun Awolowo, CEO of the Nigerian Export
Promotion Council, Clem Ugorji, Public Affairs & Communications Director,
Coca-Cola West Africa, Emeke Iweriebor, Regional CEO of UBA Africa
(Francophone), Matthew Pearson, Head of Africa Equity Sales at ICBC Standard
Bank, Sam Nwanze, Chief Investment Officer at Heirs Holdings.
Details of the 2016 Elumelu Entrepreneurs can be found at http://tonyelumelufoundation.org/teep/and
TEF’s documentary “Tony Elumelu Entrepreneurs: Transforming Africa” at http://bit.ly/TEE documentary.
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