Why I will Continue To Impact Lives Of Young Africans – Tony Elumelu
Extraordinary businessman and philanthropist, Tony Elumelu has revealed reasons why he chose to continually impact the lives of young entrepreneurs across Africa through his philanthropic initiative, the Tony Elumelu Foundation.
Mr Elumelu who identified the need to give back to society as a driving force said, “I recall vividly that full room, as I shared my dreams of changing the lives of young Africans. I remembered the chances and opportunities that I had, the luck that made fundamental changes to my career and success. I wanted to pay back and create impact – impact at scale, impact commensurate with the needs of our continent.
He maintained this during the official announcement of the 2024 cohort of Tony Elumelu Entrepreneurs.
The event was held on Friday, March 24, 2024, and interestingly it coincided with Mr Elumelu’s 61st birthday.
For the banker, the journey began over 10 years ago with a vision to democratize luck and transform lives across Africa.
And the new beneficiaries – well over 1,000 – become the 10th cohort of the 10-year-long Tony Elumelu Foundation Entrepreneurship Programme.
Information at the disposal of highstreet.ng shows the latest cohort brings the number of young Africans who have benefited so far to over 20,000. Aside from getting huge state-up capital from the foundation, the beneficiaries who year in, year out took turns to tell how grateful they were to Mr. Elumelu were equally exposed to mentoring and capacity-building support.
Reflecting on how it all started in 2015, the entrepreneur reputed for turning whatever enterprise he ventures into said; “Awele and I made a commitment to empower 10,000 African entrepreneurs, over 10 years, through The Tony Elumelu Foundation Entrepreneurship Programme.”
The serial entrepreneur who chairs Nigerian conglomerates – United Bank of Africa, Heirs Holdings, and Transnational Corporation (Transcorp Group) added; “Today’s announcement of the 2024 cohort of Tony Elumelu Entrepreneurs is another important milestone in a remarkable journey. This journey began with a vision to democratize luck and transform lives across Africa. It began long ago, when someone gave me that hand up, that foot in the door that transformed me and is transforming others.
“Reaching entrepreneurs from all African countries, our Programme embodies TEF’s commitment to inclusivity and diversity. What started as a commitment to fund 10,000 entrepreneurs over a decade, quickly surpassed expectations, empowering double that – over 20,000 entrepreneurs in 10 years.”
Available information indicates the Foundation has so far disbursed US$100,000,000 directly into the hands of young African entrepreneurs, who have gone ahead to create over 400,000 direct and indirect jobs, contributing significantly to Africa’s economic growth and development.
