Business / Economy
• Application exclusively available on TEFConnect.com - the largest digital networking platform for African entrepreneurs
• Invitation to join existing 4,470 programme Fellows
• 4th Cycle drew over 150,000 applications from across the African continent
The Tony Elumelu Foundation, the leading African-funded and founded philanthropy committed to empowering African entrepreneurs, is now accepting applications for the 2019 cohort of the TEF Entrepreneurship Programme.
The Programme is a 10-year, $100 million commitment to identify, train, mentor and fund 10,000 African entrepreneurs. The Programme’s objective is to generate at least 1,000,000 new jobs and create at least $10 billion in new business revenue across Africa. Now in its 5th year, the TEF Entrepreneurship Programme has empowered 4,470 entrepreneurs, using a bespoke and robust selection, training and implementation process to create visible and sustainable impact across all 54 African countries.
Outstanding African entrepreneurs running existing start-ups with high growth potential and aspiring business owners with transformative ideas are invited to apply. We are particularly looking to grow representation from French, Arabic and Portuguese speakers, as well as female entrepreneurs.
Inspired by Tony Elumelu’s economic philosophy of Africapitalism and his vision to institutionalise luck and democratise opportunity for a new generation of African entrepreneurs, the Foundation has implemented one of the most ambitious entrepreneurship programmes globally. Selected entrepreneurs from previous years have transformed their businesses and their communities after gaining from the Programme’s 7 pillars: $5,000 in seed capital; business development training; one-on-one mentoring; access to TEFConnect; pan-African meetups; TEF network membership; and participation at the annual TEF Entrepreneurship Forum, the largest convening of the African entrepreneurship ecosystem.
Founder, Tony O. Elumelu, CON, stated: “The private sector must be the core driver of Africa's economic transformation, but this sector cannot attain its full potential if entrepreneurs are left behind. We call on all stakeholders – policymakers, business leaders and development agencies – to actively commit to creating a better future for our young Africans who have demonstrated intellect, skill, and passion, to empower them to succeed because their success is Africa's success. The TEF Entrepreneurship Programme is by far the most impactful project of my life and represents my commitment to transforming Africa through entrepreneurship".
Parminder Vir, CEO, Tony Elumelu Foundation, said: “Our entrepreneurs illustrate the Foundation’s commitment to transform the African economy, by building on the intelligence, skills and resourcefulness of Africans. I encourage all ambitious young Africans to take advantage of this unique opportunity”.
The Foundation, which has recently hosted President Macron of France, President Uhuru Kenyatta of Kenya and President Nana Akufo-Addo of Ghana in dynamic interactive sessions with young African entrepreneurs, is committed to supporting the entire entrepreneurship ecosystem – from the entrepreneurs themselves, governments who must provide enabling environments, to capital, advice and most importantly access and networks.
The TEF Entrepreneurship Programme is open to citizens and legal residents of all African countries, who run for-profit businesses based in Africa that are no older than three years. The deadline for applications submission is March 1, 2019.
Applications will be judged based on criteria including: feasibility, scalability and potential for growth of the product/service; market opportunity for the idea/business; financial understanding, leadership potential and entrepreneurial skills.
Applicants can apply on TEFConnect - www.tefconnect.com - the largest digital networking platform for African entrepreneurs.
Link to the Impact Documentary showing the transformative and impactful stories of the Tony Elumelu Entrepreneurs: https://goo.gl/XcYqCP
Bonthe Municipal Island, Bonthe, Monday 24 December 2018 – His Excellency President Julius Maada Bio has closed the 2018 Agro-Tourism Festival organised by the Ministry of Agriculture and Food Security and the Ministry of Tourism and Cultural Affairs on Bonthe Municipal Island, southern Sierra Leone.
The event provided the platform for agricultural and tourism groups from within the district to showcase their various products.
In his keynote address, President Bio said he was pleased with the initiative of the two ministries in organising such a wonderful event geared towards showcasing both the agricultural and touristic potentials of the district.
He said his government considered agricultural and tourism as very important components in the governance structure and that they were integral in achieving economic diversification. He noted that with tourism and agriculture Bonthe district had the potential to be the breadbasket of the country.
He thanked the people of Bonthe for overwhelmingly voting him during the March-April elections. He said over the years Bonthe had been a deprived district in the country because of divisive politics, adding that his administration was ready to correct that injustice by embarking on development projects in the district.
“This once thriving district became a deprived and neglected city. As President, I will ensure that development is shared with every part of this country and Bonthe will no longer be an exception. We will revive this district and restore its lost glory.
“Very soon, we will begin the reconstruction of the sea face that will attract a lot of tourists to the district and will also construct 5 kilometres of roads inside the municipality as a start. Also, plans are underway to resume the Tormabom Agricultural Center, which alone can feed the entire nation with reserve to export,” he said.
In his unending quest for human capital development, President Bio also disclosed that within the shortest period his government would open a School of Excellence in Information Technology that would offer professional courses not only for Sierra Leoneans but also for the entire subregion.
Mayor of the Bonthe Municipal Island, Joe Sandi, said they were happy to receive their son for the first time as President of the country. He said they were so far pleased with the development strives that were already taking place in the district, noting that Bonthe had been a deprived settlement that needed urgent attention to catch up with other parts of the country.
He called on the President to provide more roads as a way of boosting the tourism sector in the district. He also cited challenges in the telecommunications sector, in particular, the urgent attention needed to connect the district with the rest of the world.
Minister of Agriculture and Food Security, Jonathan Joseph Ndanema, said the festival was a way of finding suitable ways of reducing unemployment in the district and the country as a whole. He said Bonthe offered a lot of opportunities to the country which were not explored by past governments.
He stated that his ministry was working on transforming agriculture into a business adventure capable of producing enough food for consumption and for export. He said his ministry would continue the inter-ministerial collaboration and ensure the event was held annually.
Minister of Tourism and Cultural Affairs, Dr Memunatu Pratt, said Bonthe had made history for being the first district to host the event, saying that they would learn from the experience in Bonthe and implement similar event in other districts with Agro-tourism potentials.
She added: “Tourism is one of the core areas of government and I am happy for the political will received from the President. This Island has great potentials and if we can unlock them, it will create jobs for the locals and as well improve the national revenue.”
Cairo – December 8th, 2018: Egypt is hosting today its annual international meeting in Sharm El-Sheikh with African and global political and business leaderships to push for a new intra-African comprehensive partnership.
Under the auspices of Egyptian President Abdel Fattah al-Sisi, Africa Forum will take place in Sharm El-Sheikh on December 8-9, with the theme of “Bold Leadership and Collective Commitment: Advancing Intra-African Investments”.
The event is expected to attract more than 3,000 delegates representing a wide range of disciplines across Africa and the globe, including heads of states, politicians, and business figures. They will hold in-depth discussions on opportunities to boost private sector engagement and intra-African investment, aiming to create a new economic system in Africa based on innovation, entrepreneurship, and women empowerment.
Organized by the Egyptian Ministry of Investment and International Cooperation and the COMESA Regional Investment Agency (RIA), the forum will witness discussions between regional and international experts on better access to fair competition and investment protection, and digital transformation. They will also discuss building sustainable business models to promote development in the continent.
With the participation of international finance leaders as well as heads of regional and international finance institutions, the forum will also focus on displaying new funding mechanisms for investing in the infrastructure, financing large capital investments in Africa
Taking over the chair of the African Union in 2019, Egypt will intensify efforts to ensure the realization of the continent’s reform plan for the year 2063. Egypt is keen on achieving effective cooperation between African countries to achieve comprehensive economic and social development.
Authorities in Egypt support the early operationalisation of the African Continental Free Trade Agreement (AfCFTA), to come into effect within 2019.
AfCFTAis expected to be one of the largest free trade areas in the world, to serve as the main platform for galvanising intra-continental trade and investment in Africa.
This year, the forum’s agenda includes “Young Entrepreneurs Day” (YED) that provides a comprehensive platform to support entrepreneurs as well as their innovative ideas that can create unconventional solutions for African countries’ crisis. YED will give entrepreneurs the opportunity to meet variable investors and to enhance their skills through YED’s special workshops, designed by advisors and leaders specialised in their field.
The agenda also includes “Women Empowering Africa Day” (WEA), with the aim of a greater role for African women in building the economic and social development of their countries.