By Ndumbe Bell Joseph Gaston in Douala
The Tony Elumelu Foundation says it is a fact and not fake news for those who have been benefitting from their annual entrepreuneuship programmes, of receiving world-class training expert mentoring and non-refundable seed capital of at least 5000 US dollars at the end of the session to catalyse their growth.
Counted among one of the top six leading philanthropies empowering a new generation of entrepreneurs across the African continent by driving poverty eradication and catalysing job creation across the 54 African countries with a knack to increasing women’s economic prowess, the foundation is tirelessly demanding applications for the period January 1, 2025 to March 1 to select those eligible for this year’s session.
According to their sources in Cameroon (UBA), more than 1000 Cameroonians have benefitted from the foundation since the year 2015, just founded five years earlier. Renowned to be a catalyst for the continent’s economic transmutation, eligibility is scale-able to African entrepreneurs, ‘with business ideas or existing businesses not older than 5 years and their promoters not less than 18 years.”
Propelled by his vision of Africapitalism, the visionary, Tony Elumelu, has underscored that this year’s session has on edge businesses leveraging, (artificial intelligence (AI) and green initiatives which is now an expression or maxim related to climate change or environmental protection.”
The special commitment on reducing carbon emissions, we learnt, was launched by the Tony Elumlu Foundation in partnership with the European Union (EU) and GIZ. So, Investing in Young Businesses in Africa with a special focus on Women Entrepreneurship for Africa is underlined to be exclusively “for Women entrepreneurs with green business ideas or existing businesses in countries such as Senegal, Tanzania, Uganda, Cameroon, Kenya, Mozambique, Malawi and Togo.
This year’s session has initiated similar partnership with the Elumelu Foundation, UNDP Rwanda and the Rwandan Ministry of Youth and Arts created to support young Rwandan entrepreneurs with age brackets of 18-30. This category of entrepreneurs falls within the privileged group of those to be supported with a seed capital of 3000 US dollars to develop their ideas into reality. All applications are to be channeled through TEF’S digital hub TEFConnect.
The TEF entrepreneurship programme is renowned to have made record-breaking achievements in which they boast of having attained maturity since 2015 by accessing 2.5 million dollars direct funding to 21000 women and men globally, creating 800 000 direct and indirect jobs and equally generated US 4.2 billion dollars.