The Tony Elumelu Foundation (TEF) has announced its intention to draft in and provide training to as many as seventy-four promising Kenyan entrepreneurs in the latest edition of the annual event that is the TEF Entrepreneurship Forum.
These select group of Kenyan entrepreneurs, who have made the cut on account of their business ideas which have been adjudged to be innovative and of high potential impact by the foundation, will now form part of the 1000-strong roster of selected African entrepreneurs who will be looking to leverage the opportunities and benefits that are in the offing with the fourth edition of the forum slated for October 25th, in Lagos, Nigeria.
As earlier covered by WeeTracker, the TEF Entrepreneurship Forum is an initiative which provides ample opportunities for idea generation by connecting networks, stakeholders, policy-makers, and captains of industry in an intricate nexus that facilitates robust debate and interaction.
This year’s edition is expected to draw attendance from over 5,000 entrepreneurs, global investors, leaders from Africa’s public and private sectors, as well as developmental organizations. The seventy-four selected Kenyan entrepreneurs, including their counterparts from other parts of the continent, will undoubtedly be chomping at the bit and bursting at the seams to make the most of the learning opportunity that the twelve-week intensive induction is expected to afford.
Tony Elumelu, Founder of TEF and CEO of United Bank for Africa (UBA), can be perceived to be making significant strides in the drive for the economic emancipation of the continent with this project. The TEF boasts having impacted nearly 5,000 African entrepreneurs in the last four years, whilst also achieving remarkable results in the form of job creation, human capacity building, and community development; a feat that has somewhat instilled further belief in the potentials of home-grown entrepreneurs in providing solutions to some of the most pressing problems in their immediate communities.
The TEF is the brainchild of the Nigerian billionaire and philanthropist. It was established in 2010 with the mandate of enhancing the economic growth of Africa via the empowerment of indigenous entrepreneurs. Pursuant to that goal, around USD 100 Mn is believed to have been set aside for the identification, training, mentoring and funding of over 10,000 African entrepreneurs over a period of ten years; a goal which the foundation is hoping to bring to fruition by 2024.
The TEF is committed to investing in enterprises that have the potential to collectively yield at least 1,000,000 new jobs while working wonders on the bottom lines in annual revenue reports across the continent. To that effect, 1,000 African entrepreneurs are handpicked to join the forum each year having satisfied specific criteria which revolve around idea viability, marketability, financial understanding, leadership, and demonstrable entrepreneurial skills.
It would appear that the initiative is gaining significant traction as this year’s edition is reported to have attracted over 151,000 applications from up to 114 countries worldwide, which is an astonishing feat by itself and a remarkable growth from the respectable 20,000 applications seen barely three years ago.
Kenyan President, Uhuru Kenyatta, in the company of Nana Akufo-Addo, his Ghanaian opposite number, is expected to grace the interactive session of the gathering; a move that will see the Foundation maintain its pedigree of bringing policy-makers and Africa’s current generation of young businessmen and women under an umbrella that fosters continent-wide growth.
As one of its highlights, the forum will also feature the launch of TEFConnect; what has been dubbed the world’s largest digital platform for African entrepreneurs in some circles. TEFConnect is intended as a platform that will bridge the apparent knowledge and information gap that exists between African entrepreneurs and the global entrepreneurship ecosystem.
Image Source: BusinessDailyAfrica