- Last Updated on 25.05.2018
The Tony Elumelu Foundation (TEF) through its sponsor, the United Bank for Africa (UBA) Liberia is encouraging Liberians especially females to apply for its 2018 four-circle of the foundation’s entrepreneurship program aimed at mentoring, training and providing seed capital to entrepreneurs across Africa.
Addressing a news conference on January 19, 2018, the Head of Marketing and Corporate Communications at the UBA Liberia, Mrs. Melody M. Ketter, urged Liberian entrepreneurs to take advantage of the initiative because it holds a lot of good benefits for Africans who have innovative ideas to impact their respective countries. She said participants will benefit from online learning, mentoring as well. Apply here: https://application.tonyelumelufoundation.org/
The foundation is a brainchild of billionaire Nigerian business mogul and philanthropist Tony Onyemaechi Elumelu. Application for the program began on January 1 and will end on March 1, 2018 at midnight.
The UBA Liberia Marketing and Corporate Head indicated that the TEF was established three years ago with the aim of establishing a ‘preeminent Pan Africa program’ designed to equip entrepreneurs with the skills needed to build strong and sustainable business in ten years.
“So, this time around we encourage women and men with business ideas from all sectors in Liberia to apply for this great opportunity that will put them in better positions that will enable them contribute to the economic growth of Liberia, provide over one million new jobs and create a new generation of empowered entrepreneurs.
“Since its inception, the foundation has funded, trained and equipped 300 entrepreneurs in three years,” she revealed, adding that seven Liberian entrepreneurs in various sectors have so far benefited from TEF’s program with no female representative.
Mrs. Ketter noted that successful applicants from the African continent are subsequently availed four critical tools for business success, including a 12-week intensive online training on creating and managing a business.
The second stage includes a world class mentorship to guide the early transformation stages of the business, while in the third stage entrepreneurs are availed US$5,000 in seed capital to improve their concept. The fourth and last stage paves the way for beneficiaries to access the largest network of African start-ups and TEF’s founder and UBA Group Chairman, philanthropist Elumelu.
“In this cycle, 1000 entrepreneurs will be selected from all over Africa based on the viability of the idea, including market, opportunity, financial understanding, scalability and leadership and understanding entrepreneurial skills demonstrated in the application,” Ketter said, adding that beneficiaries must be at least 18 years and based in Africa.
“For one to be eligible, the business must be based in Africa, must be for profit, must be at least three years old and applicants must be at least 18 years of age and a legal or citizen of an African country,” she stressed.
TEF founder, Tony O. Elumelu, said: “When we launched the TEF program and committed $100 million to empowering Africa’s entrepreneurs, I knew we would create impact, but I never imagined it would be impact of this magnitude. We have unleashed a movement of African entrepreneurs — a force so strong, so inspiring, that I am confident they will collectively transform Africa. We need Africa’s best and brightest entrepreneurs to come learn and grow their businesses and build our continent.”
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