Enterpreneurship | |
Enterpreneurship | |
4024 VIEWS | |
![]() |
Friday, October 26, 2018 4.30PM /
The Tony Elumelu Entrepreneurship Programme the largest gathering of African entrepreneurs in the globe, successfully hosted its fourth edition on Thursday October 25, 2018 at the Federal Palace Hotel in Lagos.
Designed with the objective of investing $100m in 10,000 entrepreneurs over a decade(2015-2025) with a seed capital of $5,000 each the TEF forum has become a notable initiative, for enterprise development in Africa.
Proshare WebTV brings to you from its coverage, ten (10) key takeaways from the event;
$25m Seed Capital
Released for 4,000 African Entrepreneurs
From the opening address by the CEO of the Tony Elumelu Foundation Parminder VIR, OBE it was disclosed that since the inception of the TEF forum in 2015 about $25m has been released as seed capital to 4,000 African entrepreneurs.
About $10m has been invested in developing
the technology infrastructure that will connect the African entrepreneurs,
while according to the TEF CEO 62% of the businesses operated by the
entrepreneurs are fully operational.
41% Gender
Participation for 2018 Edition
Another interesting report from the TEF forum revealed by the CEO of the Foundation Parminder VIR, OBE was the improvement in gender participation in the programme.
For the 2018 set the participation increased to 41%, which means the foundation is making progress in encouraging female entrepreneurs.
It is expected that by 2019 edition
it will hit 50% which will be a significant step in boosting gender
inclusion.
Exploits of the TEF
Forum Alumni
The TEF forum Alumni of over 3,000 are making impact across the continent through their business ventures shaping a narrative of innovation and ingenuity in Africa.
From the remarks of the TEF CEO about 1,500 entrepreneurs empowered by the foundation have created 12,000 jobs in the region.
At the 2018 event some of the outstanding
Alumni of TEF were honoured for the feat they have made in the business space.
Power-packed Pitching
Competition
The TEF forum is a platform that
encourages innovative ideas and it was not surprising that this year’s edition,
featured a pitching competition.
It was moderated by Mayeni Jones of the
BBC and was an opportunity for five (5) young entrepreneurs to pitch their
ideas namely;
-Vital Sounovou
of Exportunity Benin Republic
-Sandra
Onwuekwu of Ecoprune Nigeria
-Jessica
Rakotoarisa of Nomad Solar Bag Madagascar
-Mohamed
Dhaouafi of Cure Medicare, Tunisia
-Mahassin
Quadri of Cash Madam Nigeria
At the end of
the exercise Mahassan Quadri of Cash Madam Nigeria emerged the overall winner
of the pitching competition.
It had seasoned panel of
judges who are notable entrepreneurs and shaping the African business
environment like;
-Angelica Nwandu, Founder
Shade Room
-Alessia Balducci, GM
Seedspace
-Oluchi Orlandi,
Internationally Acclaimed Model and Entrepreneur
-Sam Nwanze, Director
Finance & Investments, Heirs Holdings
-Lanre Da Silva, African
Fashion Entrepreneur
A Charge from African Leaders
What made the #TEFforum2018
thick and really a remarkable event was the attendance of Ghanaian President
His Excellency Nana Akuffo Addo and the special video message from Kenyan
President Mr. Uhuru Kenyatta, who both lauded Mr Tony .O. Elumelu, CON for
investing in young African entrepreneurs.
They both charged the young
entrepreneurs in Africa to rise up the challenge of transforming the continent,
through their ingenuity and creativity, while pledging to drive policies that
will create an enabling environment.
This once again affirmed
the acceptability and recognition of the role TEF is playing, in enterprise
development across the continent.
Strategic Partnerships
With the fourth edition of
the TEF 2018 forum successfully concluded last week, a major takeaway is the
growing partnerships with key international agencies in the globe.
The three international
agencies that have identified with the Tony Elumelu Foundation include the
United Nations Development Programme (UNDP), International Committee for the
Red Cross and GIZ-German Business Development Agency.
The aforementioned
supported the TEF by sponsoring an additional 460 entrepreneurs to the 1,000
selected for the year 2018.
ICRC supported 210
entrepreneurs in areas across Nigeria ravaged by conflict, while the GIZ
empowered 200 tech entrepreneurs.
On the part of the UNDP the
focus is one of the features of the Sustainable Development Goals 2030, which
is Job creation.
Gathering of Politicians
Notable Nigerian Politicians were also in attendance at the TEF forum 2018 which was an opportunity for them to get acquainted with developments in the largest gathering of African entrepreneurs in the region.
Some of the
leaders at the event include; H.E Alhaji Atiku Bagudu, Governor of Kebbi State,
H.E Mr Mohammed Abubakar, Governor of Bauchi State, H.E Mr Donald Duke,
Presidential Candidate, Social Democratic Party, H.E Mr Peter Obi Vice
Presidential Candidate, Peoples Democratic Party, Mr Jimi Benson, Member House
of Representatives, Ikorodu, Lagos State, and Engr Haruna Manu, Deputy
Governor, Taraba State.
Launch of TEF Connect
One of the major highlights of the #TEFforum2018 was the launch of the “TEF Connect” the largest digital platform connecting African entrepreneurs in the globe.
TEFConnect will bring together the entire African
ecosystem players from entrepreneurs, incubators to investors.
According to Folarin Aiyegbusi, Business Information Specialist at the Tony Elumelu Foundation, TEF Connect will provide the platform for effective networking across the entire ecosystem, and will also achieve the following;
A Warm Fireside Chat
between Eleni Giokos and Dr Awele Elumelu
One of the interesting features at the TEF
forum 2018 was the fireside chat anchored by Eleni Giokos of the CNN Market
Place Africa with Dr Awele Elumelu a trustee of the foundation, as the special
guest.
The conversation focused on the “The Role of the Private Sector in Furthering Economic Development” in the region.
Dr Awele Elumelu emphasized the need for public-private sector partnership in addressing challenges in sectors like healthcare.
She shared insight into the TEF forum activities and how it is empowering young African entrepreneurs to provide solutions to issues in the continent.
They discussed
the progress in female participation which hit 41% in 2018, Dr Awele Elumelu
said "We need to encourage women, empower them and
make the work environment more conducive for them. Women have to believe in
themselves and men need to believe that women can do great things too”.
The Market Place
The “Market Place” was another interesting addition to the 2018 edition of the forum and provided an opportunity for the TEF entrepreneurs to showcase their products, network and also engage potential investors.
It was also an avenue to capture some of
the remarkable businesses that have emerged since the commencement of the
programme in 2015.
Related News
1.#TEFforum2018:$20m
Seed Capital Released Since 2015 for 4,000 African Entrepreneurs
2.4th Annual Tony
Elumelu Foundation Entrepreneurship Forum Announced For Oct 25, 2018
3.Tony Elumelu
Pledges N500 Million Exclusively To Delta State Focused Entrepreneurship
Programme
4.Macron harps on
a new narrative, innovation and vibrant private sector for Africa
5.President Macron
to Attend Business Forum in Lagos, Powered by TEF
6.UBA Chairman
Tony Elumelu to tour East Africa on Entrepreneurship, Infrastructure
7.Tony Elumelu
Foundation Selects 1,000 Entrepreneurs for 2018 Programme
8.Red Cross and
Tony Elumelu FDN Partner To Empower 200 Nigerian entrepreneurs
9.TEF Accepting
Applications for the 2018 $100m Entrepreneurship Development Programme
10.#TEFforum2017:Osinbajo,Elumelu,
task African entrepreneurs on transforming the continent.