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Elumelu Foundation Opens 2021 Entrepreneurship Application, Eyes 3,000 SMEs

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Africa’s leading philanthropy dedicated to empowering African entrepreneurs, The Tony Elumelu Foundation (TEF), on Friday, January 1, 2021, called for applications on its TEFConnect digital platform (www.tefconnect.com). Prospective applicants are to apply on the digital networking hub for African entrepreneurs, www.tefconnect.com.

This year’s edition, it said in a statement will focus on the economic recovery of small and medium scale enterprises (SMEs) and young African entrepreneurs, in the aftermath of the Covid-19 disruption to economic activities.

The programme will address the unique challenges arising from the pandemic, lift millions out of poverty and create sustainable employment across the continent, empowering 1,000 young African entrepreneurs, selected from the 2020 cohort.

The Foundation also said it plans to open its doors to an additional 2,400 young entrepreneurs in 2021, in collaboration with global partners.

TEF, which celebrated 10 years of impact in 2020, is empowering a new generation of African entrepreneurs, through the TEF Entrepreneurship Programme, with successful applicants receiving world-class business training, mentorship, non-refundable seed capital of up to $5,000, and global networking opportunities.  The Programme is open to entrepreneurs across Africa, both new start-ups and existing young businesses, operating in any sector.

A statement by the foundation quoted its Chief Executive, Ifeyinwa Ugochukwu as saying it is now, more than ever, demonstrating a “commitment to unleashing the potential of young African entrepreneurs, the key to Africa’s long-term economic transformation.”

While admitting that the pandemic has created challenges across the continent, she assured “that with the Tony Elumelu Foundation’s tried and tested Programme, we can execute the largest Covid-19 economic recovery plan for African SMEs and break the cycle of poverty in Africa.”

The Foundation’s $100million Entrepreneurship Programme, launched in 2015 to empower 10,000 entrepreneurs over 10 years, is now entering its 7th year and has empowered to date, over 9,000 young African entrepreneurs from 54 African countries.

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