The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy, on Wednesday, said it has so far trained over 200,000 entrepreneurs across the continent’s 54 countries in core business management skills as part of its 2021 Entrepreneurship Programme.
The Business Management training was conducted exclusively on TEFConnect, the Foundation’s proprietary digital platform that provides capacity-building support, advisory and market linkages to over one million Africans and counting.
The training, which has a unique curriculum that encompasses topics on Starting Your Business, Business Management & Fundamentals, Leadership & Business Growth, Selecting and Building a Team, amongst others, the foundation said in a statement, equips entrepreneurs with critical skills required to launch and run their businesses at the early growth stage.
Entrepreneurs, who are effectively armed to achieve business growth, profitability, and sustained success, the statement continued, were hosted to weekly information sessions, as part of the training, to address relevant concerns and share vital programme updates.
They all received active support from coaches and mentors who provided technical guidance, counsel and one-one interaction throughout the duration of the training programme.
The training, one element of the seven pillars of the TEF Entrepreneurship Programme, was carried out in the official African languages including English, French, Portuguese and Arabic, and over 40% of trained participants were women.
Commenting on this milestone, Ifeyinwa Ugochukwu, Chief Executive of the Tony Elumelu Foundation, said “every year, our commitment to transform Africa is further strengthened with the passion, resilience and talent of the high-calibre entrepreneurs who onboard our flagship programme. Our curricular provides a holistic opportunity for entrepreneurs to learn, grow and contribute to the development of their communities.”
She added that, “it is a testament to the eagerness and readiness of African entrepreneurs across all of Africa to make themselves available to transform the continent for good. I would like to commend these entrepreneurs for their discipline, dedication and hard work throughout the training and look forward to the immense impact of their businesses across diverse sectors in Africa. We remain committed to empowering African entrepreneurs with the required resources and support that will ensure that their businesses can scale and drive sustainable change on the continent”.
The TEF Entrepreneurship Training is immediately followed by a Business Plan review process for each entrepreneur. The top-performing entrepreneurs subsequently participate in the Pitching phase of the Programme after which successful entrepreneurs receive a non-returnable seed capital of US$5000 each.
The leading African philanthropy also hopes to train and empower thousands more across the African continent as part of its commitment to catalyze economic growth, drive poverty eradication and ensure job creation. In 2020, the Tony Elumelu Foundation marked ten years of impact, having empowered and funded nearly 10,000 African entrepreneurs from all 54 African countries as part of its US$100m TEF Entrepreneurship Programme.