Saturday, October 14, 2017 7.00am/Proshare WebTV
A prosperous African continent is
feasible, but this will be achieved through strategic investments and capital,
not foreign aid. Notable African businessman, philanthropist and leader
asserted this at the media roundtable to mark the third edition of the Tony
Elumelu Entrepreneurship Programme for Africa in Lagos.
Mr Elumelu stressed that there was a
correlation between the growth of entrepreneurship and the alleviation of
poverty, in any economy of the world. He noted that Africa’s growth had come to
a critical point it had to move, to the level of real-time empowerment of the
Elumelu decried the fact that one of
challenges for businesses in the continent, was the lack of an enabling
environment which has affected the competitiveness of the region.
The Heirs Holding Chairman said Africa had
to attract capital, which is essential for Looking at the African environment, the
business icon called on the governments in the continent to focus on improving
the ease of doing business, which will attract capital.
According to him “African leaders must
focus on creating an enabling business environment for the growth of the Small
and Medium enterprises, that are key drivers of economic transformation in any
He believed investments in the young
dynamic population in Africa, was crucial to driving the development of African
The business leader tasked the media, to
create more awareness on the need for the growth of SMEs in the continent.
He reiterated the fact that Africa needs
real-time accelerated development, which can be attained through private
sector-led investments in the economy.
The TEEP 2017 is the third batch of the
annual programme, and is being described as one of the largest entrepreneurship
programme in Africa. It is focused on empowering 10,000 people in the next 10
TEEP is guided by the philosophy of Inclusive economic philosophy of Africapitalism, based on the belief
that a vibrant African-led private sector is the key to unlocking Africa’s
economic and social potential.
It is also committed to driving African economic
growth through the fostering of African entrepreneurship and institutionalise
and create an environment where home-grown pan-African companies in various
sectors can flourish.
This year’s edition will have as special
guest of honour, the President of Guinea Mr Alpha Conde alongside
Nigeria’s Vice-President Prof Yemi Osinbajo (SAN), Members of the Nigerian
Federal Executive Council, State Governors and other notable business leaders.