Ifeyinwa Ugochukwu, Chief Executive Officer of the Tony Elumelu Foundation, TEF, recently in Brussels, Belgium, played host to the European Union, leading development finance institutions and think-tanks.
Ugochukwu, said the event was an opportunity for the Tony Elumelu Foundation to forge new partnerships aimed at unlocking Africa’s economic potential and discuss innovative solutions for sustainability.
She called on the EU to create economic opportunities for African Entrepreneurs.
The Tony Elumelu Foundation is an African non-profit organization founded in 2010 by Tony O. Elumelu and headquartered in Lagos, Nigeria, based on his belief that, with the right support, entrepreneurs can be empowered to contribute meaningfully to Africa’s prosperity and social development. The Foundation is intent on charting a new course for African philanthropy and does not operate merely as a grant-awarding organisation. It is a pioneer member of the Global Impact Investment Rating System.
In 2015, TEF launched the TEEP that gives entrepreneurs access to seed funding, expert mentoring, and a 12-week business training program.
In 2019, the African Development Bank (AfDB) and the Tony Elumelu Foundation (TEF) announced a new partnership that will expand support for youth entrepreneurship on the continent.
The partnership will create an additional 1,000 places on the flagship Tony Elumelu Entrepreneurship Programme (TEEP), bringing the total number of places to 3,050.
Competition for places has increased in the past year, according to figures from TEF. The Foundation received 216,000 applicants compared to 151,000 for 2018, with a record 90,000 female applicants.