About 5,000 entrepreneurs from across Africa are expected to convene in Lagos, Nigeria in October for the fourth edition of the Tony Elumelu (TEF) Entrepreneurship Forum, arguably Africa’s largest entrepreneurial convening. The Foundation announced October 25, 2018 as the date for its annual entrepreneurship forum, expected to attract thousands of rising entrepreneurs from the continent most of whom are beneficiaries of the Foundation. TEF, the $100 million entrepreneurship support programme, is the largest African philanthropic initiative that seeks to identify and empower 10,000 African entrepreneurs over a period of 10 years. Each year, the Foundation selects about 1,000 entrepreneurs from different parts of Africa to under-go a 12-week intensive online training, mentorship and get up to $10,000 seed capital. The forum is a culmination of the annual programme. This year, TEF partnered with the International Committee of the Red Cross, United Nations Development Programme (UNDP) and Indorama to select 1,250 entrepreneurs. A number of Rwandan enterprising businesses and innovators who participated in this year’s TEF entrepreneurship programme increased to 47 from 22 selected the previous year and 15 selected in 2016. Those who will attend the annual forum will meet global investors, leaders from the African public and private sectors as well developmental organisations. It is a platform that many entrepreneurs have previously said help them to generate new ideas and forge networks. The Foundation, on an annual basis, invites leading faces in the world of business and politics to inspire the young generation of African entrepreneurs. In keeping with the Foundation’s track record, most recently invited President Macron of France to interact with young business women and men shaping Africa. Organisers revealed that this year’s Forum will include an interactive session with President Uhuru Kenyatta of Kenya and President Nana Akufo-Addo of Ghana. According to the statement, the Forum will also feature the launch of the TEFConnect, the world’s largest digital platform for African entrepreneurs, dedicated to connecting African entrepreneurs and the entrepreneurship ecosystem. According to the Foundation’s founder, Tony Elumelu, in four years, 4,460 entrepreneurs have benefitted from the programme, and most of them have generated jobs in their communities, which he says is key to Africa’s economic well-being. “Africa’s economic well-being is driven by entrepreneurs; female and male, large and small – they are the engine of our continent’s transformation. We will be championing and celebrating them,” he said in a statement. Elumelu is a Nigerian billionaire and philanthropist and this entrepreneurship programme is inspired by his economic philosophy of Africapitalism and his vision to institutionalise luck and democratise opportunity for a new generation of African entrepreneurs. editorial@newtimes.co.rw
