Tony Elumelu, Founder of Tony
Elumelu Foundation, speaking at the unveiling of the 2019 TEF Entrepreneurs
The Tony Elumelu Foundation, on
Friday, unveiled finalists of its 2019 entrepreneurs drawn from 54 African
countries.
The
event which took place in Abuja had in attendance the Wife of the President,
Aisha Buhari, wives of Governors of Kogi and Nasarawa State, the founder, Tony
Elemule among others.
Over
3,000 applicants were been selected for the 2019 cohort of the Foundation’s
flagship Entrepreneurship Programme.
According
to the foundation, the applicants were selected from the 216,000 submitted
applications representing 58% male, 42% female.
Some
of the parameters used in selecting shortlisted applicants include feasibility,
market opportunity, scalability, leadership skill and viability of the idea.
Founder
of TEF, Tony Elumelu stressed the importance of private sector in the
development of Africa’s economy.
He
noted that the small and medium scale enterprises are the main drivers of the
economic transformation.
“No
one but us will develop our continent. The private sector has a key role to
play in doing this. It is not the big businesses that make the difference, but
the SMEs are known for creating jobs, alleviating poverty, helping to bridge
inequality gaps and ensure that our women are more economically involved.”
“It
is in this realisation that the TEF decided that entrepreneurship is the most
catalytic way of making little contributions to humanity.”
He
said that the selected finalists are 3,050 young African men and women
from 54 African countries.
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