By Our Reporter
The Tony Elumelu Foundation (TEF), a leading philanthropy empowering a new generation of young African entrepreneurs, welcomed a delegation of esteemed EU partners at the prestigious Transcorp Hilton in Abuja, on the occasion of the visit of the EU Commissioner Hosted. For International Partnerships, Ms. Jutta Urpilainen and the Delegation of the European Union to Nigeria.
The event marked an important milestone in the ongoing partnership between the Tony Elumelu Foundation and the European Union.
In 2021, the Tony Elumelu Foundation partnered with the European Union to identify, train, mentor and finance 2,500 young African women entrepreneurs. The partnership distributed €20 million in financial and technical support to women-owned businesses in all 54 African countries, in addition to providing access to market linkages, supply chains and venture capital investments.
The partnership has not only significantly strengthened and deepened EU-Africa relations, but also builds on the transformative approach of the US$100 million Tony Elumelu Foundation Entrepreneurship Programme, and to support the economic empowerment of women within the EU. Becomes part of the EU external investment scheme. Gender Action Plan (GAP III).
During the event, Tony Elumelu Foundation founder Tony O. Jutta Urpilainen, EU Commissioner for Elumelu CFR and International Partnerships, expressed his delight at the great success achieved through the TEF-EU partnership and reflecting on its achievements.
Young African women entrepreneurs who have flourished under her guidance and support.
Mr Elumelu and Commissioner Urpilainen expressed their excitement about the future of the Tony Elumelu Foundation’s cooperation with the EU. The two leaders underlined their commitment to foster entrepreneurship, innovation and economic growth in Africa, paving the way for a prosperous future for the continent.
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Speaking at the event, Mr. Tony O. “I speak for every young African entrepreneur when I say thank you,” Elumelu said. [to the European Union] And welcome to Africa. Together, the Tony Elumelu Foundation and the European Union have economically empowered thousands of women entrepreneurs across the continent, supporting each of them with $5,000 of non-refundable seed capital, because they share our belief that Prosperity anywhere is good for all of us, and poverty anywhere is a danger to all of us. This partnership exemplifies the transformative impact that can be achieved when like-minded organizations come together to empower the next generation of African entrepreneurs. Together with the EU, we have unlocked immense potential, enabling young women entrepreneurs to contribute meaningfully to Africa’s economic growth.
Commissioner Jutta Urpilainen commented, “It is great to have this opportunity to hear the impactful stories of the beneficiaries of the Tony Elumelu Foundation’s inclusive support programs and the stories of those who are also supported by the EU. When I was appointed to the EU Commission for International Partnerships 2019, I had one objective, I really wanted to change the paradigm. The paradigm of our partnership with Africa, I wanted to get rid of the existing donor-recipient relationship, where donors dictate to Africans and impose their expectations on them. We look forward to changing the paradigm and creating mutually beneficial partnerships and equitable partnerships. ,
As the Tony Elumelu Foundation and the European Union continue their collaborative efforts, they are dedicated to empowering entrepreneurs, driving innovation and driving positive change across the African continent. This partnership stands as a beacon of hope, inspiring future generations and demonstrating the immense possibilities that arise when organizations come together to uplift communities.
The Tony Elumelu Foundation is a leading philanthropy empowering a new generation of African entrepreneurs, promoting poverty alleviation, driving job creation and enhancing women’s economic empowerment in all 54 African countries. Since the launch of the TEF Entrepreneurship Program in 2015, the Foundation has trained more than 1.5 million young Africans on its digital hub, TEFConnect, and distributed nearly US$100 million in direct funding to 18,000 African women and men , who have collectively created more than 400,000 direct enterprises. and indirect jobs. The Foundation’s mission is rooted in Africapitalism, which positions the private sector and, above all, entrepreneurs as the catalyst of social and economic development on the African continent.
