Latest news with #TonyElumeluFoundation
Zawya
03-08-2025
- Business
- Zawya
UBA Chairman Tony O. Elumelu calls for African governments to prioritize infrastructure & private sector investment
DUBAI, UAE – Tony O. Elumelu, Group Chair of United Bank for Africa (UBA), Heirs Holdings, and Founder of the Tony Elumelu Foundation has challenged African leaders to take decisive action in building a resilient continent while highlighting significant investment opportunities for Global partners including the Gulf in Africa's transformation journey. Delivering the keynote address on "Resilient Infrastructure, Human Capital, and Green Assets" at the 2025 World Bank and IMF African Caucus Meeting of 54 African member countries in Bangui, Central African Republic, Elumelu tasked African leaders with strengthening their continent's foundations while creating pathways for meaningful international partnership. Building Resilient Foundations "Africa's development is our responsibility. No one else will do it for us. Africa's future is in our hands," Elumelu declared, challenging African leaders to strengthen fiscal capacity, drive efficiency, and create enabling environments for international partnerships. The UBA Chairman emphasized that reliable electricity is crucial for Africa's industrial revolution, noting that "no industrial revolution or meaningful progress can occur on the continent without reliable electricity." Youthful Demographics Create Market Potential Elumelu highlighted Africa's demographic advantage as a key opportunity for global investors, noting that over 60% of the continent's population is under 35 years old. "Africa is the youngest continent on earth. Our young people are the answer to the world's demographic crisis, our minerals power the extraordinary technological changes we are experiencing, and our fields can feed the world," he explained. This demographic profile creates substantial market opportunities for global partners in sectors including telecommunications, education technology, financial services, and consumer goods, particularly as the continent builds resilient economic foundations. Framework for Stronger Partnerships Elumelu emphasized that successful partnerships must be built on "genuine partnerships of equality and mutual respect," ensuring African development occurs "on African terms" that benefits African people and catalyzes true value creation across the continent. His message comes as Dubai's trade with Africa is forecast to grow 10% annually over the next five years. This trajectory, combined with his call for resilient infrastructure development, creates compelling opportunities for global partners. UBA's DIFC branch strengthens UAE-Africa financial flows, facilitating trade and investment between the regions. With Africa's GDP expected to reach $2.6 trillion by 2030, strategic infrastructure investments from international partners could unlock significant economic value while supporting sustainable development across the continent. About UBA Group United Bank for Africa Plc (UBA) is a leading pan-African financial institution with operations in 20 African countries and international presence in the USA, UK, France, and UAE. As Africa's Global Bank, UBA connects businesses and investors worldwide to opportunities across the continent. Visit for more information.
Zawya
18-02-2025
- Business
- Zawya
Tony Elumelu Foundation partners with UAE Office of Development Affairs, Khalifa Bin Zayed Al Nahyan Foundation
United Arab Emirates – The Tony Elumelu Foundation (TEF), the leading philanthropy empowering young African entrepreneurs, from all 54 African countries , today, signed a USD$6million strategic partnership agreement with the UAE Office of Development Affairs and Khalifa Bin Zayed Al Nahyan Foundation (an affiliate of Erth Zayed) to provide business training, mentorship, access to networks, and non-refundable $5,000 seed capital, to an additional 1,000 young African entrepreneurs. The agreement signed, at the World Governments Summit, by TEF Founder, Tony O. Elumelu, and the Director General of the Khalifa Bin Zayed Al Nahyan Foundation, His Excellency Mohamed Haji Al Khoori, evidences both organisations' shared commitment to fostering economic empowerment and entrepreneurship across Africa. Through this partnership, the Khalifa Bin Zayed Al Nahyan Foundation will leverage the Tony Elumelu Foundation's expertise and execution ability in catalysing entrepreneurship through the Tony Elumelu Entrepreneurship Programme, which has pioneered business management training, mentorship, and capital funding for African entrepreneurs. The Khalifa Bin Zayed Al Nahyan Foundation, a distinguished philanthropic organisation, affiliated with Erth Zayed, has a long-standing commitment to humanitarian and developmental projects, focusing on education, healthcare, economic empowerment, and enterprise development. "Empowering entrepreneurs is not just a moral imperative, but also a strategic investment in Africa's future. By providing the necessary access to capital, mentorship, and resources, we are unlocking the potential of Africa's entrepreneurial talent, eradicating poverty, driving self-reliance, and paving the way for inclusive growth and prosperity on the continent. This partnership between the Tony Elumelu Foundation and the Khalifa Bin Zayed Al Nahyan Foundation not only reflects our shared vision of empowering Africa's next generation of business leaders, but will also create a ripple effect of economic transformation across the continent.", Tony Elumelu stated. His Excellency Mohamed Haji Al Khoori added, "Erth Zayed's mission is to foster impactful partnerships that drive humanitarian and developmental progress. Supporting young African entrepreneurs aligns with our goal of strengthening economies and building sustainable businesses that uplift communities." Since the launch of the TEF Entrepreneurship Programme in 2015, the Tony Elumelu Foundation has provided up to 2.5 million young Africans with access to trainings on its digital hub, TEFConnect, and disbursed over US$ 100 million in direct funding to more than 21,000 African women and men, who have collectively created over 1.5 million direct and indirect jobs. Through its initiatives, the Tony Elumelu Foundation has brought 2 million Africans out of poverty. In addition to its self-funded programmes, TEF works with international partners including the EU, the UNDP, the ICRC and the Ikea Foundation. The partnership with the Khalifa Bin Zayed Al Nahyan Foundation, is the first with a Gulf based philanthropy and represents a further example of the strong investment, diplomatic and cultural ties between the GCC and Africa. The Tony Elumelu Foundation is currently accepting applications from young entrepreneurs across Africa with innovative business ideas or existing businesses not older than five years on TEFConnect. African entrepreneurs are encouraged to apply to initiatives to receive training, mentorship, access to networks, and funding. Application deadline is March 1, 2025. Visit the TEF Impact Page and African Success Stories to learn more about the Tony Elumelu Foundation's impact across the continent, as well as the initiatives being driven by past beneficiaries of the TEF Entrepreneurship Programme. Media Contact: Moyo Awotile Head, Marketing & Corporate Communications The Tony Elumelu Foundation Email:
Zawya
29-01-2025
- Business
- Zawya
Apply NOW for $5000 in the 2025 Tony Elumelu Foundation Entrepreneurship Programme!
The Tony Elumelu Foundation (TEF) ( Africa's leading champion of entrepreneurship, is pleased to announce that applications for its 2025 Entrepreneurship Programmes are now open. Aspiring and existing entrepreneurs from across Africa are invited to apply for a chance to receive world-class training, expert mentoring, and non-refundable seed capital funding to scale their businesses. Programmes Open for Application: Tony Elumelu Foundation (TEF) Entrepreneurship Programme: the flagship TEF Entrepreneurship Programme is open to all entrepreneurs across Africa with innovative business ideas or existing businesses not older than five years. This year, there is a special emphasis on businesses leveraging Artificial Intelligence (AI) and green initiatives. Applicants must be at least 18 years old. Aguka Ideation Programme: The Aguka Ideation Entrepreneurship Programme is a partnership with the Tony Elumelu Foundation, UNDP Rwanda and the Rwandan Ministry of Youths and Arts to support young Rwandan entrepreneurs between 18 -30 with business ideas with a seed capital of $3000, with the aim of nurturing and developing innovative concepts into viable enterprises. TEF Entrepreneurship Programme for Google: The Tony Elumelu Foundation has renewed its partnership with to empower African entrepreneurs with AI-integrated business training, in addition to mentoring and seed capital, to shift their perception towards embracing and adopting AI tools in their business operations. Application Details: • Platform: Applications are to be submitted through TEF's proprietary digital hub, TEFConnect. • Application Period: January 1, 2025 – March 1, 2025. Applicants are encouraged to complete and submit their applications well ahead of the deadline. • Eligibility: Open to African entrepreneurs with scalable business ideas or existing businesses not older than five years. Applicants must be at least 18 years old. To learn more about the Tony Elumelu Foundation's transformative work and the success of our African entrepreneurs. Explore our: • Impact Report ( which highlights the Tony Elumelu Foundation's achievements and contributions to Africa's economic growth. • African Entrepreneurs' Success Stories ( showcasing the inspiring journeys of Tony Elumelu Entrepreneurs. • Annual Reports ( offering insights into the Tony Elumelu Foundation's strategies and outcomes. Distributed by APO Group on behalf of The Tony Elumelu Foundation. For More Information: • FAQs: Click here ( for detailed answers to frequently asked questions are available on the TEF website. • Contact: For more information, contact: Moyo Awotile; Head, Marketing&Corporate Communications; About the Tony Elumelu Foundation: The Tony Elumelu Foundation is the leading philanthropy empowering a new generation of African entrepreneurs, driving poverty eradication, catalysing job creation across all 54 African countries, and increasing women economic empowerment. Founded in 2010, the Tony Elumelu Foundation is committed to empowering African entrepreneurs as a catalyst for the continent's economic transformation. Since the launch of the TEF Entrepreneurship Programme in 2015, the Foundation has provided up to 2.5 million young Africans with access to training on its digital hub, TEFConnect, and disbursed over USD$100 million in direct funding to over 21,000 African women and men, who have collectively created more than 1,500,000 direct and indirect jobs, and generated over USD$4.2 billion in revenue. The Foundation's mission is rooted in Africapitalism, which positions the private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the African continent.
