Tony O. Elumelu

Maria Nassiwa

The Tony Elumelu Foundation (TEF) fourth annual entrepreneurship forum is to take place in October this year in Lagos Nigeria, organisers have said.

The event is expected to host over 5,000 entrepreneurs, global investors, leaders from the African public and private sectors and developmental organizations.

The annual event provides a great opportunity for idea generation and brings together policymakers and the private sector together to debate issues affecting Africa’s development agenda.

The Forum will include an interactive session with President Uhuru Kenyatta of Kenya and President Nana Akufo-Addo of Ghana, moderated by TEF Founder, Tony O. Elumelu.

“In just four years, we have directly impacted 4,460 entrepreneurs, and we are beginning to see the results- job creation, ripple effects, but most importantly a recognition that Africa’s economic well-being is driven by entrepreneurs: female and male, large and small – they are the engine of our continent’s transformation,” reads part of media statement.

This year, the foundation received over 150,000 applications, up from 20,000 applications in 2015. The foundations is now calling on the current generation of African success stories and others to partner with it so as to further create impact.

“We are now calling on the current generation of African success stories and others to partner with us to see how we can all further create impact, genuinely transform millions of lives and increase the number of inspiring stories we will be hearing in Lagos,” Said the founder, Tonny O. Elumelu.

Tony Elumelu’s vision to institutionalise luck and democratise opportunity for a new generation of African entrepreneurs, the Foundation has implemented one of the most ambitious entrepreneurship programmes worldwide.

The USD 100 million 10-year entrepreneurship programme identifies, mentors, trains and funds young entrepreneurs. Its goal is to invest in businesses that will generate at least 1,000,000 new jobs and contribute at least $10 billion in new annual revenues across Africa.

Elumelu, recently said: “The number and quality of applicants, 151,000 in total, was outstanding – it illustrates the strength and depth of entrepreneurial promise and commitment on our continent. Selection is never easy, and we profoundly regret that we cannot help all.

There was a near 50-50 split between male and female applications, reflecting the entrepreneurial ambition of Africa’s women. Agriculture was the leading sector among selected entrepreneurs at 30.5%, followed by technology (10.5%) and education & training (7%).