Chances are you have never heard of Tony Elumelu. He is the founder and chairman of Heirs Holdings, UBA Group Plc, Seadrill Nigeria Ltd and Transcorp Plc – Nigeria’s largest listed conglomerate. Mr. Elumelu is a billionaire and a philanthropist, who has designed an entrepreneurship program that plans to disburse $100 million dollars in financial assistance to African and African-American entrepreneurs throughout the U.S and Africa.
In January 2015, Tony launched his ‘Tony Elumelu Entrepreneurs Transforming Africa’ program. Elumelu says his vision is to help 10,000 entrepreneurs, create 10,000 startups, within the next 10 years, that generate significant employment and wealth. He also hopes to create a solid partnership between Africa and the U.S.
I set up the foundation to tackle some of the problems African entrepreneurs face, as entrepreneurship is my passion. I would also like to encourage more of Africa’s high-net-worth individuals to give and support their passions in an institutional manner. It is my belief that home-grown African philanthropy should be setting the agenda for the continent’s development.
The foundation has three goals:
#1 – Identify 10,000 African startups and African entrepreneurs with ideas that have the potential to succeed.
#2 – Grow the businesses through business skills training, mentoring, access to seed capital funding, information, and membership in our Africa-wide alumni network.
3 – Create businesses that can generate at least 1,000,000 new jobs and contribute at least $10 billion in revenues across Africa over 10 years.
For more details about the Tony Elumelu Entrepreneurs Transforming Africa, visit http://tonyelumelufoundation.org/teep/tony-elumelu-entrepreneurs-transforming-africa/