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Unlocking Africa’s economic development

-Tony Elumelu Foundation (TEF) Asserts

Africa’s largest gathering of entrepreneurs, the Tony Elumelu foundation Enterprepreneurship forum  ends in Lagos, Nigeria with a call for African entrepreneurs to unlocking Africa’s economic development.

Five Thousand African entrepreneurs as well as leaders from the private and public sectors on Thursday, 25 October 2018 ended a day long Entrepreneurship Forum to mark the annual Tony Elumelu Foundation (TEF) Entrepreneurship Forum. The event which is the largest gathering of African entrepreneurs in the world is a unique opportunity for bringing together young business talent, creating dynamic networks and transmitting the message to policymakers that a vibrant and responsible private sector will deliver economic transformation.

Now in its fourth year, the Forum, sponsored by United Bank for Africa (UBA), marked the graduation of the 2018 cohort of the TEF Entrepreneurship Programme, following a rigorous nine-month period of training, mentorship and funding, which brought the total number of beneficiaries of the Programme to 4,470.

One of the highlights was the unveiling of TEF Connect, a revolutionary digital community that brings together the complete entrepreneurship ecosystem across Africa and beyond, including entrepreneurs, investors and the broader business community on one platform, connecting them digitally with three vital elements for success – capital, market and business tools.

Africa is riding a wave of rapid technological driven change in payment systems, education, agriculture and infrastructure and TEF Connect fulfills a critical role in linking entrepreneurs across the continent.

Commencing with a series of goodwill messages from key stakeholders in the investment, governmental and development communities, the event featured a pitching competition, panel discussions, as well as a vibrant interactive session between His President Nana Akufo-Addo of Ghana and the entrepreneurs, moderated by TEF Founder, Tony O. Elumelu.

Tony Elumelu, the Founder of the Tony Elumelu Foundation reiterated his commitment to championing Africa’s economic development by supporting and training a new generation of entrepreneurs, whose successes can transform the continent, delivering opportunity, job creation and social impact. ‘Africa’s future is in African hands’ he stated.

“Our Foundation and its unique approach of training, mentoring and funding has proven that entrepreneurship is the key to unlocking economic transformation of our continent. I believe so strongly that success can be democratized and if we can match ambition to opportunities, this extraordinary generation can achieve anything,” said Tony Elumelu.  “With TEFConnect, we have created a tool, that provides a digital platform to host ideas, champion success and demonstrate Africans ability to use the most advanced technologies to take charge of their economic destinies.”

His Excellency, President Nana Akudo-Addo of Ghana underlined the importance of galvanizing the broad entrepreneurship eco-system, calling on public sector representatives to encourage, support and replicate the work of the Tony Elumelu Foundation in their respective regions.

Speaking on the importance of putting the right policies in place, President Nana Akufo-Addo said: “Nothing is changed or developed on its own. People must get up, speak, have discussions and change the dialogue”.

Since its inception, the Tony Elumelu Foundation has empowered African entrepreneurs across the continent with a $5,000 non-refundable seed grant, a bespoke training programme designed specifically for the African environment and access to a dedicated group of mentors, significantly contributing to economic growth, job creation and revenue generation

The Forum was attended by key players in the private and public sector including Governor, Kebbi State, Senator Abubakar Atiku Bagudu; Governor of Bauchi State, Alhaji Mohammed Abdulahi Abubakar; President, Lagos Chamber of Commerce and Industry, Nike Akande; Former Governor, Cross River State, HE Donald Duke and Former Governor of Anambra State, HE Peter Obi, among others.

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