Tag: Tony Elumelu Foundation

Tony Elumelu in Global Academic Limelight as the Tony Elumelu Foundation Case Study becomes part of Harvard’s Curriculum 

Tony Elumelu in Global Academic Limelight as the Tony Elumelu Foundation Case Study becomes part of Harvard’s Curriculum 

 

In an unprecedented move, the Harvard Business School, the graduate business school of Harvard University, is set to cast the spotlight on the Tony Elumelu Foundation (TEF), recognising the Foundation’s extraordinary philanthropic achievement in a ground-breaking case study.

 

The case study, first of its kind on any philanthropic organisation in Africa, is to be launched on Thursday, February 29, 2024, before a class of graduate students in Boston, Massachusetts and will explore the Foundation’s unique approaches and transformative initiatives, showcasing how strategic philanthropy offered by TEF is driving positive change and elevating countries and communities.

 

This move by Harvard underscores the Foundation’s pivotal role in empowering young African entrepreneurs across all 54 African countries and places the Foundation at the forefront of global discussions on transformative and catalytic philanthropy, acknowledging its significant contributions towards fostering entrepreneurship in Africa.

 

In addition to delving into the foundation’s innovative approaches and the resultant impact it has garnered over the years, the event will also feature an exclusive acknowledgment of the Founder of TEF, Tony Elumelu’s economic philosophy of Africapitalism, which positions the private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the African continent.  

 

The Tony Elumelu Foundation is the leading philanthropy, empowering a new generation of African entrepreneurs, driving poverty eradication, catalysing job creation across all 54 African countries, and increasing inclusive economic empowerment. 

 

Since the launch of the TEF Entrepreneurship Programme in 2015, the Foundation has trained over 1.5 million young Africans on its digital hub, TEFConnect, and disbursed over USD$100 million in direct funding to 20,000 young African women and men, who have collectively created over 400,000 direct and indirect jobs.

 

Tony Elumelu who spoke on the impact of TEF on the African youth said, “TEF is creating economic hope and opportunity for African Entrepreneurs. We know that entrepreneurship is the antidote to poverty, youth unemployment and insecurity. Through the intervention of the Tony Elumelu Foundation, we are encouraging our young people, giving them hope through the seed capital we provide, capacitising them through the training and mentoring we provide and setting them up to create businesses that will succeed and create even more jobs. Collectively we are fixing the challenges that we have on the continent.

 

Continuing, he said, “the Tony Elumelu Foundation was set up to create more successful African business leaders. We want to replicate our own success and create entrepreneurs who will build more prosperity on the continent and for the continent. It’s all about transforming our society and making sure that we leave the society better than we met it. It is not about the money that we have in our bank accounts, it is about the legacy that we make and the impact we create. Prosperity for all is what will create the security, harmony and peace that we need.” 

 

The Harvard Business School session will provide a platform for thought leaders, scholars, and business enthusiasts to engage in a meaningful discussion on the role of philanthropy in shaping sustainable and inclusive economies. As the world grapples with complex challenges, the Tony Elumelu Foundation stands as a beacon of hope, showcasing how strategic philanthropy can be a driving force for positive change.

 

TONY ELUMELU FOUNDATION TRAINS OVER 200,000 AFRICAN ENTREPRENEURS ACROSS 54 AFRICAN COUNTRIES

The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy empowering young African entrepreneurs from all 54 African countries, has successfully trained over 200,000 entrepreneurs in core business management skills as part of its 2021 TEF Entrepreneurship Programme.

The Business Management training was conducted exclusively on TEFConnect,  the Foundation’s proprietary digital platform that provides capacity-building support, advisory and market linkages to over 1 Million Africans and counting.

The TEF Entrepreneurship Programme Business Management Training equips entrepreneurs with critical skills required to launch and run their businesses at the early growth stage. With a unique curriculum that encompasses topics on Starting Your Business, Business Management & Fundamentals, Leadership & Business Growth, Selecting and Building a Team, amongst others, entrepreneurs are effectively armed to achieve business growth, profitability, and sustained success.

Entrepreneurs were hosted to weekly information sessions, as part of the training, to address relevant concerns and share vital programme updates. All entrepreneurs received active support from coaches and mentors who provided technical guidance, counsel and one-one interaction throughout the duration of the training programme.

The training, which is one element of the 7 pillars of the Tony Elumelu Foundation Entrepreneurship Programme, was carried out in the official African languages including English, French, Portuguese and Arabic, and over 40 percent of trained participants were women.

Commenting on this milestone, Ifeyinwa Ugochukwu, CEO of the Tony Elumelu Foundation, said “Every year, our commitment to transform Africa is further strengthened with the passion, resilience and talent of the high-calibre entrepreneurs who onboard our flagship programme. Our curricular provides a holistic opportunity for entrepreneurs to learn, grow and contribute to the development of their communities.”

The Chief Executive Officer added: “Furthermore, it is a testament to the eagerness and readiness of African entrepreneurs across all of Africa to make themselves available to transform the continent for good. I would like to commend these entrepreneurs for their discipline, dedication and hard work throughout the training and look forward to the immense impact of their businesses across diverse sectors in Africa. We remain committed to empowering African entrepreneurs with the required resources and support that will ensure that their businesses can scale and drive sustainable change on the continent”.

The TEF Entrepreneurship Training is immediately followed by a Business Plan review process for each entrepreneur. The top-performing entrepreneurs subsequently participate in the Pitching phase of the Programme after which successful entrepreneurs receive a non-returnable seed capital of US$5000 each.

The leading African philanthropy also hopes to train and empower thousands more across the African continent as part of its commitment to catalyze economic growth, drive poverty eradication and ensure job creation.

In 2020, the Tony Elumelu Foundation marked ten years of impact, having empowered and funded nearly 10,000 African entrepreneurs from all 54 African countries as part of its US$100 million TEF Entrepreneurship Programme. The Tony Elumelu Foundation is inspired by Tony Elumelu’s economic philosophy of Africapitalism, which positions the private sector, and most importantly entrepreneurs, as the catalyst for the long-term social and economic development of the African continent.

To learn more about the Tony Elumelu Foundation, please visit TonyElumeluFoundation.org; and to receive the Foundation’s free business training, please visit TEFConnect.com.

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