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Tony Elumelu Foundation Creates 160,000 Jobs

The Tony Elumelu Foundation (TEF) has created over 160,000 jobs across Africa in three years. The foundation recently announced its 3rd annual TEF Entrepreneurship Forum holding October 13th – 14th in Lagos, as one of the biggest yearly gatherings of African entrepreneurs and SMEs.

The Foundation in a statement, disclosed that over 1,300 African entrepreneurs, business leaders, policymakers from 54 countries would be in attendance.

The expected speakers for this great event are: Wale Ayeni, International Finance Corporation; Stephen Tio Kauma, Afrexim Bank; Andre Hue, African Development Bank; Stephen M. Haykin, USAID Nigeria; Heikke Reugger, European Investment Bank; and Abdoulaye Mar Dieye, United Nations Development Programme.

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Furthermore, Mr. Tony Elumelu, founder of TEF revealed that: “Since launching the TEF Entrepreneurship Programme – and committing $100 million to empowering 10,000 African entrepreneurs in a decade – we have unleashed our continent’s most potent development force and its entrepreneurs. In just three years, our first 3,000 entrepreneurs have created tens of thousands of jobs and generated considerable wealth. On October 13 and 14, the global entrepreneurship community will gather in Lagos to build a New Africa, a thriving, self-reliant continent capable of replicating the results of our ground-breaking Programme.”

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Also, Mrs. Owen Omogiafo, Chief Operating Officer and Mrs. Parminder Vir, Chief Executive Officer of TEF, said: “On the average, each entrepreneur has created about 20 direct jobs and when that is multiplied by 2000, it is 40,000. Sixty indirect jobs by 2000 is about 120,000 and all put together is 160,000.”

“This is the first year we have opened the Forum up to include the full pan-African entrepreneurship ecosystem. In doing so, we are enabling African SME communities to come together and expand the possibilities for intra-African partnerships.”