The Tony Elumelu Entrepreneurship Programme started in 2010 and is the largest initiative to support young entrepreneurs in Africa.
Its aim is to support 10,000 African entrepreneurs by 2024. Sh.10 billion ($100 million) has been committed to this by, founder, Tony Elumelu and his foundation partners.
In summary, Tony Elumelu Foundation (TEF) Entrepreneurship Programme is 12-weeks of intense training, an opportunity to network and an avenue to get needed capital. Window to apply for the 2018 program closed, way back, on 1st March.
Kenyan entrepreneurs definitely did not want to miss out. Did you apply, as well? Kenya had the 2nd highest number of applications; at 2,839. Nigerians sent some 69,000 applications.
In total, 150,000 applications were made by Africans from 114 countries. The program is open to all African citizens as long as their businesses are based in Africa.
From these sizeable figures, 1,000 entrepreneurs were to be selected. An extra 250 slots were opened for Nigerians in conflict areas.
Tony Elumelu 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.
READ: TONY ELUMELU IS OUT TO ‘INSTITUTIONALIZE LUCK’
74 Kenyan entrepreneurs were chosen. Only Nigeria and Uganda, with 258 and 125 entrepreneurs respectively had more successful applicants.
Overall, the split between men and women was not badly off; at 58.8% for the former and 41.2% for the latter. Agriculture turned out to be the most popular sector, with 30% of the entrepreneurs to take part in Tony Elumelu Foundation Entrepreneurship Programme 2018.
Fashion and Retail followed at a distance. These are sectors associated with women entrepreneurs in Kenya.
The programme CEO, Parminder Vir confrmed that some sh.1.5 billion ($15 million) has been used to directly fund African entrepreneurs so far.
Further, “beneficiaries have created more than 55,000 jobs and counting, and we will convene from across all of Africa’s 54 countries to Lagos this October for the TEF Forum – the largest gathering of entrepreneurs in the world.”
Check out the list of Kenyan entrepreneurs in the next page. Maybe you know one of them 😀
