THE YCEO: Entrepreneurship is key to unlocking economic dev't in Africa - Tony Elumelu - YCEO Africa

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THE YCEO: Entrepreneurship is key to unlocking economic dev't in Africa - Tony Elumelu

Founder of Tony Elumelu Foundation has reiterated his commitment to championing Africa’s economic development.

Tony Elumelu said, this would be achieved by supporting and training a new generation of entrepreneurs, whose successes can transform the continent, delivering opportunity, job creation and social impact.

“Africa’s future is in African hands,” he stated.

“Our Foundation and its unique approach of training, mentoring and funding has proven that entrepreneurship is the key to unlocking economic transformation of our continent. I believe so strongly that success can be democratized and if we can match ambition to opportunities, this extraordinary generation can achieve anything,” said Tony Elumelu.

He was speaking at the annual Tony Elumelu Foundation (TEF) Entrepreneurship Forum which saw over 5000 participants this year.

The event which is the largest gathering of African entrepreneurs in the world is a unique opportunity for bringing together young business talent, creating dynamic networks and transmitting the message to policymakers that a vibrant and responsible private sector will deliver economic transformation.


One of the highlights was the unveiling of TEFConnect, a revolutionary digital community that brings together the complete entrepreneurship ecosystem across Africa and beyond, including entrepreneurs, investors and the broader business community on one platform, connecting them digitally with three vital elements for success – capital, market and business tools.

Africa is riding a wave of rapid technological driven change in payment systems, education, agriculture and infrastructure and TEFConnect fulfils a critical role in linking entrepreneurs across the continent.

He said, “With TEFConnect, we have created a tool that provides a digital platform to host ideas, champion success and demonstrates Africans ability to use the most advanced technologies to take charge of their economic destinies.”

President Nana Akudo-Addo underlined the importance of galvanizing the broad entrepreneurship eco-system, calling on public sector representatives to encourage, support and replicate the work of the Tony Elumelu Foundation in their respective regions.

Speaking on the importance of putting the right policies in place, President Akufo-Addo said: “Nothing is changed or developed on its own. People must get up, speak, have discussions and change the dialogue”.

Since its inception, the Tony Elumelu Foundation has empowered African entrepreneurs across the continent with a $5,000 non-refundable seed grant, a bespoke training programme designed specifically for the African environment and access to a dedicated group of mentors, significantly contributing to economic growth, job creation and revenue generation.

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