The Tony Elumelu Foundation (TEF) is set to announce selected finalists for the 2019 batch of the Foundation’s entrepreneurship programme.
The event, which marks the fifth round of the Foundation’s eentrepreneurship programme, would take place in Abuja, tomorrow.
Checks by Daily Sun revealed that, the Chairman of Heirs Holdings, Tony Elumelu, will lead other dignitaries to the event, as the lucky finalists are unveiled.
The Foundation, in 2018, launched TEFConnect, a digital networking platform for African entrepreneurs. The platform currently has over 400,000 users, providing opportunities for entrepreneurs to network, while receiving training and forging business partnerships to scale their businesses beyond physical borders.
In the five years since the Foundation launched the programme, it has empowered 4,000 African entrepreneurs directly and an additional 470 entrepreneurs supported by the Foundation’s partners.
Having committed a whopping sum of $100million fund to the entrepreneurship programme, the Foundation empowers 1,000 entrepreneurs annually, who receive $5,000 in non-refundable seed capital, access to mentors, a 12-week training programme and opportunities to promote their businesses to a global audience.
The Foundation recently appointed Ms Ifeyinwa Ugochukwu as CEO, effective from April 1, 2019.
A statement from TEF quoted Ms Ugochukwu to have emphasised the importance of partnership in reaching additional entrepreneurs beyond the Foundation’s annual commitment of 1,000 entrepreneurs.
“Over 215,000 African entrepreneurs applied from across 54 African countries, up from 151,000 applications last year, with an increase in female representation from 62,000 in 2018 to 90,000 in 2019.
“These rising figures demonstrate the burning desire of the African entrepreneur to develop our continent, and we must urgently convert this passion into viable businesses to develop our continent,” the statement read in part.