President Nana Akufo-Addo delivers great keynote address at ‘The Tony Elumelu Foundation Entrepreneurship’ 

”We live on the richest continent in the world yet our people are the poorest, that’s a contraction that has be resolved’  Akufo-Addo

On Thursday,  October 25th 2018, Ghana’s President Nana Akufo-Addo was the Guest of Honour at the Tony Elumelu Foundation Entrepreneurship Forum held in in Lagos, Nigeria.

During his keynote address, President Akufo-Addo informed the young African entrepreneurs (5,000 entrepreneurs across Africa)who are trained, mentored and funded, by the Tony Elumelu Foundation that

”We live on the richest continent in the world, yet our people are the poorest, that’s a contradiction that has be resolved….strong market economies provides the best framework for developments, for prosperity and for wealth creation”

President Akufo-Addo, further advised that, leaders must run their country and the economy well

When asked by one of the young entrepreneurs if the $60 billion given to Africa by China is not a betrayal of the Africa Beyond aid, President Akufo-Addo said

 ”Up till today, the education budget in Ghana  30% is funded by grants from foreign donors, the same with the health budget of Ghana…..Borrowing money is not aid. What President Xi Jinping offered is a $60 billion fund which African countries can access, not as aid but as loans. If you can produce a project that the Chinese think is worth supporting, you can have access to that money, but you have to pay it back.”

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He added that “everybody borrows money. United States of America is one of the biggest debtors in the world. So borrowing money is not necessarily a betrayal of the concept of independence NO. The key for us in borrowing money is that we borrow money to create assets that will allow us to pay the money back…

President Akufo-Addo, further explained that the money must be used wisely to create assets that will allow Africans to pay back. ‘Our aim and focus should be on expanding Africa’s economy and Infrastructure…’

Speaking at the opening of a major summit with African leaders in September, China’s President  Xi pledged $60 billion to Africa in the form of assistance, investment and loans with ‘no strings attached’ China’s Xi made it clear that the money was to be spent wisely and not anyhow 

”Chinese funds are not to be spent on any vanity projects”.

he believes inadequate infrastructure is  the biggest bottleneck to Africa’s development. President Xi  added that he will encourage other companies to invest also minimum of  $10 billion in Africa over the next 3 years. Some of the people we spoke to were a bit confused about the ‘no strings attached’ aspect. It is therefore very good that the question of the $60 billion from China to Africa was explained Ghana’s president.

President Akufo-Addo concluded by saying that there’s no contradiction to what China did with regards to the ‘Africa Beyond aid’ vision i.e standing on our own 2 feet…   

Find out more about The Tony Elumelu Foundation Entrepreneurship by visiting  tonyelumelufoundation.org 

Source: President Akufo-Addo

 

Apply today –  transform your tomorrow!  The Applications for the 2018 Tony Elumelu Foundation Entrepreneurship Programme is open!

Nigerian billionaire, Tony Elumelu has launched The Tony Elumelu Foundation Entrepreneurship Program (TEEP) that aims to create, support and boost 10, 000 young businesses across the continent. These companies are expected to generate  1, 000, 000 jobs and contribute $10 billion in revenue across Africa.

Tony ElumeluIn a statement to the press,  Mr Tony Elumelu said “The opportunity and challenge in Africa is scale – in our people, our resources and our horizons. In my business and philanthropic journeys, I have always sought ways to help inspire a generation across our continent.

This programme brings together my own entrepreneurial experience and my fundamental belief that entrepreneurs – women and men across Africa – will lead Africa’s development and transform our futures,”  The 10, 000 start-ups will be selected by a committee of African business leaders. The selected applicants will participate in a comprehensive program designed to equip them with the skills needed to build a successful business….

Visit tonyelumelufoundation.org To Apply For The TEF 2018 Programme

Application Deadline: March, 01 2018

This is great news for African entrepreneurs!  

 

Credit: tonyelumelufoundation.org

Apply today –  transform your tomorrow!  The Applications for the 2016 Tony Elumelu Foundation Entrepreneurship Programme is open!

Nigerian billionaire, Tony Elumelu has launched The Tony Elumelu Foundation Entrepreneurship Program (TEEP) that aims to create, support and boost 10, 000 young businesses across the continent. These companies are expected to generate  1, 000, 000 jobs and contribute $10 billion in revenue across Africa.

Tony Elumelu In a  statement to the press,  Mr Tony Elumelu said “The opportunity and challenge in Africa is scale – in our people, our resources and our horizons. In my business and philanthropic journeys, I have always sought ways to help inspire a generation across our continent. This programme brings together my own entrepreneurial experience and my fundamental belief that entrepreneurs – women and men across Africa – will lead Africa’s development and transform our futures,”  The 10, 000 start-ups will be selected by a committee of African business leaders. The selected applicants will participate in a comprehensive program designed to equip them with the skills needed to build a successful business. The program includes seed funding, a customized 12-week business skills training course, mentoring, an entrepreneurship ‘boot camp’, participation in the annual Elumelu Entrepreneurship Forum, membership of the Alumni Network and much more. “Entrepreneurship is the cornerstone to African development and the key to local value creation in Africa. I am determined to ensure that Africa’s next generation of entrepreneurs have the platform they need to turn their entrepreneurial aspirations into sustainable businesses that will drive economic growth and job creation across Africa,”… Click here for more  and apply.

Application Deadline: March, 01 2016 

This is great news for African entrepreneurs! What an amazing man!  Credit: tonyelumelufoundation.org

African Energy Group will bring the continent’s leaders together in an effort to build public-private partnerships, leverage political support and mobilize funds for sustainable energy and development. Created by a working group of African leaders including billionaires Elumelu, Aliko Dangote; Donald Kaberuka, President of the African Development Bank; Prime Minister Daniel Duncan of Ivory Coast; and President John Mahama of Ghana, AELG’s mission takes the form of three pillars—driving universal access, driving efficiency and driving renewables.

African billionaires join together to launch African Energy Group

Speaking at a high profile panel on energy at the 2015 annual meeting for the World Economic Forum in Davos, Switzerland,  Nigerian billionaire Tony Elumelu emphasized the key priority for 2015 for Africa as “policy, policy, policy

Nigerian billionaire and philanthropist Tony Elumelu is among the group launching the African Energy Leaders Group (AELG), a multi-stakeholder advocacy group that aims to address Africa’s power deficiency—the continent has approximately 620 million people without electricity.

Elumelu said, “Investors in this space are rational. The risks are huge; the capital requirements are equally huge. If you want to invest in this space, you have to first survey the environment beyond economics; policy, stability, enforceability of rules, the nature of the regulatory framework. If the right policies are in place, investors and financiers will be encouraged to invest.”

“Currently, every single African country is experiencing energy shortages and power outages. This costs the continent 2 percent of its GDP,” said Kaberuka. “We are a continent of miracles; if we are growing at 5 percent without enough electricity, think of what the continent could do with enough electricity.”

Kaberuka also added that the African Development Bank does $5 billion of infrastructure per year; half of that investment is ear-marked for energy, in both the private and public sectors…

Source: Forbes

 

Tony ElumeluNigerian Mogul Tony Elumelu has delivered a Special New Year’s message to all African Entrepreneurs.  Tony Elumelu believes that  ‘The private sector in Africa and the entrepreneurs in particular have a role to play in the growth of our continent…. 

Tony Elumelu  launched The Tony Elumelu Foundation Entrepreneurship Program (TEEP) that aims to create, support and boost 10, 000 young businesses across the continent. These companies are expected to generate 1, 000, 000 jobs and contribute $10 billion in revenue across Africa…. continue here

“Entrepreneurship is the cornerstone to African development and the key to local value creation in Africa. I am determined to ensure that Africa’s next generation of entrepreneurs have the platform they need to turn their entrepreneurial aspirations into sustainable businesses that will drive economic growth and job creation across Africa,” Tony Elumelu

Do you have a Business idea? Are you an upcoming entrepreneur? Click here for more and apply. Take advantage of  The Tony Elumelu Foundation Entrepreneurship Program (TEEP)  help and support and turn that dream into a reality this New year!

Wishing all African entrepreneurs a very productive year 2015!

Such an inspiration! Keep up the good work Sir!

 Credit: Tony Elumelu