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African Billionaire Launches $100 Million Dollar Program for Black Entrepreneurs

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.

Elumelu said,

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

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Stanley Hayes December 1, 2016 at 11:25 pm

First of all I would like to say.well I was hoping to start a fresh seafood market but could not find one not only in the southeast but anywhere in the US owned by any blacks . not only seafood but we don’t produce our own food.that’s deep.

Dionne Henderson December 7, 2016 at 4:24 am

I live in California in Victorville. I hope to open the first ever Youth Center of Entrepreneurs, exposing them to different business skills that would open their minds and help shape great young Adults that can empower and strengthen for generations to come.. lets build together.

Eden January 17, 2017 at 7:41 am

I am an Ethiopian raised in Australia. I have created my own hair braiding studio to show case and share our traditions and culture to the world.
My dream is to create jobs and build the business I would love some assistance and would love to help create a better world ?
Facebook – Eden Stylz


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