The partnership will bring about future collaboration focused on strengthening small to medium-sized enterprises as well as talent and skills development for Africa’s youth

The Board of Directors of the African Development Bank has approved a grant of $5 million to enable the Tony Elumelu Foundation Entrepreneurship Programme to scale up its outreach and impact to 1,000 select youth entrepreneurs.

The grant follows the signing of a letter of intent between the Bank and the Tony Elumelu Foundation, which took place during the Tony Elumelu Foundation Entrepreneurship Programme launch in March this year. The partnership will bring about future collaboration focused on strengthening small to medium-sized enterprises as well as talent and skills development for Africa’s youth.

The partnership will support 3,050 young entrepreneurs across 54 African countries. The Bank's participation will enable an additional 1,000 entrepreneurs to benefit from the Tony Elumelu Entrepreneurship Program, which provides much-needed opportunities to help stem the rising tide of unemployment and inequality facing the continent’s youngest citizens.

The programme aligns with the Bank’s ten-year Jobs for Youth in Africa strategy launched in 2016, to support the creation of 25 million decent jobs across the continent. The strategy is also expected to equip 50 million young African people with employable skills that enable them to access economic opportunities and realize their full economic potential across the continent.

The Tony Elumelu Foundation Entrepreneurship Programme will deliver business training, mentoring, access to networks, markets and capital for business development to selected youth-led start-ups in order for them to grow and create jobs.

The Entrepreneurship Programme demonstrates a strong alignment with the Bank’s Youth Entrepreneurship and Innovation Multi-Donor Trust Fund objectives to build the African youth entrepreneurship ecosystem by scaling innovative youth-led start-ups, expanding youth market opportunities and improving youth access to finance.

Other development partners involved in supporting the Tony Elumelu Entrepreneurship Programme are Agence Française de Développement, the German Agency for International Cooperation, the United Nations Development Programme and the International Committee of the Red Cross. They will also work to provide more business opportunities to youth entrepreneurs across the continent.

In 2017, the Bank established the Youth Entrepreneurship and Innovation Multi-Donor Trust Fund, in partnership with the governments of Norway, Denmark, Sweden, Italy and the Netherlands. The fund is a grant vehicle managed by the Bank to support the African entrepreneurship ecosystem directly and indirectly by leveraging on the Bank’s instruments. Its interventions will equip Africa’s youth with the right tools to establish start-ups and micro, small and medium enterprises.

SOURCE: https://brandspurng.com/2019/12/16/african-development-bank-approves-5-million-grant-to-scale-up-tony-elumelu-entrepreneurship-programme/

I dedicate this front-page to myself

Great Development!

Some of my guys dem have benefited from the TEF Programs.

But me, the Baba of Innovation and Strategic Planning have not been picked for once after applying more than 4 times. Even though my business is not profit oriented alone, it also carries a long-term Developmental Plans (giving back to society through creative Philanthropy).

I have decided already never to apply for anymore Grants but rather strive hard for startup capital while building my empire from the tiniest scratch.
I have decided never to stop until I bless lives and leave a lasting legacy in this world (Immortality)

God Bless TEF, God Bless Tony Elumelu.

D for dick

lemon10:
d

Hope the entrepreneurs that will benefit will also receive them as grants.
Before the business man will turn free money to loan for personal gain.

What's tha business?

c

lemon10:
I dedicate this front-page to myself

Congratulations

Tony be careful oh. We wouldn't want to hear later that the money was laundered and used for frivolities

idonhammer:
D for dick

do u like it?

Africa rises.

The partnership will bring about future collaboration focused on strengthening small to medium-sized enterprises as well as talent and skills development for Africa’s youth

This is a very good partnership.
Very commendable from Mr Tony E.

Our sensible and sane youths should take very good advantage of this and not to join some lazy youths wailing 24/7 of their lives that they are not having a good life since 2015!

Positive lifestyle.
Better future.

God bless Tony Elumelu,
Eyan Badoo Sneh!

Tony Elumelu, wa bami jo s'ilu, Femi Otedola, e na mi ni dollar

These guys ain't giving seed capital just spending on social media publicity and pocketing the rest

More money to bank when Don already full

I have seen lots of negative comment on this thread, people who don't have any information commenting, people just comment because there is comment section......nawa.

Majority of foundations are scam,even those in USA,they get sued everyday
So he is not using his money after all

Hope I benefit from this.

How can one be a beneficiary?
Please let me know. Anyone.

Ok

Most projects like this start and end in Lagos

donestk:
These guys ain't giving seed capital just spending on social media publicity and pocketing the rest

.... please don't sir what you don't know. Many are benefiting from this scheme. I say this with every form of certainty.

Flier:
Majority of foundations are scam,even those in USA,they get sued everyday
So he is not using his money after all

Calm down oga, do you know that he has his own independent monetary commitment to empower 10,000 African businesses. Read before you comment please, that man Tony Elumelu started this grant before these donations started coming. That is why they said it meant for SCALING not Starting..... commenting and condemning things are is so easy for people.

Ameboperoo:
How can one be a beneficiary?
Please let me know. Anyone.

Application starts by first of January each year. So when the portal opens head over there and apply with your business plan (online).

KayCee92:


Calm down oga, do you know that he has his own independent monetary commitment to empower 10,000 African businesses. Read before you comment please, that man Tony Elumelu started this grant before these donations started coming. That is why they said it meant for SCALING not Starting..... commenting and condemning things are is so easy for people.

You are very funny,I am sure the donation was his targets even before he started the foundation. Billionaires are the biggest thieves the system is rigged,take USA for example 90% of those that own foundation are into fraud include Donald trump
Who recently paid compensation
They get sued every day for diverting foundation money into their personal lives and businesses

Same Amount Cardio B was paid to come bad twerk in Nigeria.......we have this money, just misplaced priority...

I

Flier:
You are very funny,I am sure the donation was his targets even before he started the foundation. Billionaires are the biggest thieves the system is rigged,take USA for example 90% of those that own foundation are into fraud include Donald trump
Who recently paid compensation
They get sued every day for diverting foundation money into their personal lives and businesses

Doesn't matter what the norm is. We have not seen or heard (so far) that Tony Elumelu grant is a scam. In fact it can't be. I have seen this grant change the lives of ordinary people, people so close to me. Without any connections, no godfathers, they simply applied and won the 5000 USD. Please don't generalize. Bad things exist yes, so does good things. You just have to look so you see the genuine people. Tony is one of the very few.

UnitedNigeriaUN:
Great Development!

Some of my guys dem have benefited from the TEF Programs.

But me, the Baba of Innovation and Strategic Planning have not been picked for once after applying more than 4 times. Even though my business is not profit oriented alone, it also carries a long-term Developmental Plans (giving back to society through creative Philanthropy).


I have decided already never to apply for anymore Grants but rather strive hard for startup capital while building my empire from the tiniest scratch.
I have decided never to stop until I bless lives and leave a lasting legacy in this world (Immortality)

God Bless TEF, God Bless Tony Elumelu.

Thats the right step bro, keep it up. You'll make it.
Maybe you should read on how Jay Z started.
Goodluck