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Tony Elumelu Foundation has committed $100 million to identify, train, mentor and fund 10,000 African entrepreneurs.
The CEO Tony Elumelu Foundation Ifeyinwa Ugochukwu, made this known while speaking at the Mist Global Forum in Riyadh, Saudi Arabia.
“This is why at the Tony Elumelu Foundation, we have committed $100million to identify, train, mentor and fund 10,000 African entrepreneurs across all 54 African countries in 10 years, By the end of this year, we would have mentored and funded over 9000 entrepreneurs” she said.
The Tony Elumelu Foundation according her has focused its impact on propelling young African entrepreneurs and their businesses from startup to scale up with the goal that they create jobs and revenue, two critical factors necessary to break the cycle of poverty on the continent and prepare Africa for the near future.
She encouraged the audience to adopt an entrepreneurial mindset. “Entrepreneurship is not just about starting a business. To be successful, you need to have an entrepreneurial mindset”, she stressed.
“Young people everywhere realise that the world we are living in is not the world that the educational system is preparing them for. The educational system is preparing them for a job seeking mentality but the young of today need to have a job creating mentality; not just creating jobs for themselves but creating jobs for others, and so entrepreneurship is key”, stated the CEO
She further pointed out that this notion and the belief in the potential of entrepreneurship drives the commitment of the Tony Elumelu Foundation.
