UNDP Companions with the Tony Elumelu Basis to Empower 100,000 Younger Entrepreneurs in Africa

Niamey, 6 July 2019 – The United Nations Growth Programme (UNDP), the worldwide improvement community of the United Nations, has partnered with the Tony Elumelu Basis (TEF) — Africa’s main philanthropy dedicated to empowering entrepreneurs — to coach, mentor and financially assist 100,000 younger entrepreneurs in Africa over 10 years in the direction of the achievement of the Sustainable Growth Objectives (SDGs) and the African Union’s Agenda 2063.

L to R: Ahunna Eziakonwa, UNDP Regional Director for Africa; Tony Elumelu, Founder, Tony Elumelu Basis; on the signing of the TEF-UNDP Sahel Youth Entrepreneurship Programme partnership on the AU Summit in Niamey, Niger

The TEF-UNDP Sahel Youth Entrepreneurship Programme, which is predicted to mobilize assist for companies, goals to generate hundreds of thousands of latest jobs and contribute not less than $10 billion in new annual revenues throughout Africa.

This was introduced at the moment on the 12th Extraordinary Session of the Meeting of the African Union (AU), the place TEF Founder, Tony Elumelu and UNDP Regional Director for Africa, Ahunna Eziakonwa joined African Presidents on the African Continental Free Commerce Space (AfCFTA) Enterprise Discussion board, the place the settlement was signed. The President of Niger, H.E Mahamadou Issoufou joined UNDP and TEF to launch the programme.

The partnership will goal younger Africans in under-served communities, beginning with the Sahel, given the area’s alternative because the youngest inhabitants on this planet with 194 million folks beneath 25 years of age (64.5% of the whole inhabitants). The TEF-UNDP Sahel Youth Entrepreneurship Programme will likely be applied by means of TEF’s flagship Entrepreneurship Programme, which has already benefited 7,520 native entrepreneurs throughout 54 African international locations in simply 5 years of existence. Equally, the programme builds on UNDP’s YouthConnekt initiative. The intention is to extend job creation by means of dynamic entrepreneurship and create sustainable financial progress that anchors the event of communities and states.

Talking on the partnership, Ms. Ahunna Eziakonwa, Assistant Secretary-Common and UNDP Regional Director for Africa acknowledged that: “We see Sahel as a land of many alternatives and investing within the youth is a pre-condition to stabilizing the area. The youth needs to be on the coronary heart of any improvement agenda. We have to spend money on their potential, expertise, vitality and enthusiasm and create the chance for them to totally understand their goals. That’s the reason UNDP is co-creating improvement options by investing in entrepreneurship fashions to advertise inclusive progress. Partnership with the Sahelian youth entrepreneur is a catalyst for transformation and sustainable improvement. We name on different personal sector entities to hitch the Tony Elumelu Basis to assist younger entrepreneurs”.

On her half, CEO of the Tony Elumelu Basis, Ifeyinwa Ugochukwu stated: “Our partnership with UNDP is welcome and well timed – it would immediately help entrepreneurial success in plenty of fragile areas and is a testomony to the validated strategy to philanthropy we now have pioneered. Africa wants companions that don’t solely consider within the potential of its personal sector to champion financial improvement, however backs this with dedication. With this settlement, UNDP has confirmed to be a real companion to Africa’s entrepreneurs and has demonstrated its dedication to work with us to scale up the influence of this initiative and eradicate poverty on the continent”.

The TEF-UNDP programme is absolutely aligned with the 1 Million by 2021 Initiative of the Chairperson of the African Union Fee, His Excellency Moussa Faki Mahamat. Launched in April on the AU Headquarters in Addis Ababa, the 1 Million by 2021 Initiative goals to concretely attain 1 million African youth from throughout the continent with alternatives and interventions in the important thing areas of Training, Entrepreneurship, Employment and Engagement (4Es) to speed up Africa’s socio-economic improvement.

The Chairperson of the AUC talking on the launch of the 1 Million by 2021 initiative stated: “The1 Million by 2021 initiative is an African name to motion that goals to make sure that no younger individuals aged 15-35 is left behind. The initiative adopts a Pan-African outlook and facilitates strategic partnerships to open up new alternatives for younger folks on the continent…The AU has the experience, convening energy and continental attain at our disposal however that alone can not assure success. We want dedication from our private and non-private sector companions to attain success. Within the face of our overwhelming job, a collective effort is critical to face and succeed. In Africa, we are saying, ‘Broomsticks sure collectively are troublesome to interrupt. That is the strategy that I implore us to take”.

By the TEF-UNDP partnership, the chosen candidates will every obtain a most of $5,000 non-refundable seed capital, entry to mentors, a 12-week enterprise coaching and networking alternatives. They’ll be part of the beforehand introduced 3,051 beneficiaries of the 2019 cohort of the TEF Entrepreneurship Programme.

The functions will likely be run on TEFConnect, the biggest digital networking platform for African entrepreneurs and varieties will likely be out there in any of the branches of the United Financial institution for Africa (UBA). Following the top of the applying window, an preliminary longlist of 5,500 candidates will likely be chosen to endure the 12-week enterprise coaching. After the coaching, the ultimate shortlist of two,000 candidates will likely be introduced to hitch the earlier 2019 TEF cohort. ###

For media enquiry, please contact:

In Niamey: Amadou Djibo, +227 91 20 83 13

In Lagos: Ifesinachi Okpagu, +234-803-571-4367
In New York: Reward Nutakor, +1 732 405 7940; Alessandro Mrakic, +1 212-906-5907

About UNDP: UNDP companions with folks in any respect ranges of society to assist construct nations that may face up to disaster, and drive and maintain the sort of progress that improves the standard of life for everybody. On the bottom in some 170 international locations and territories, we provide international perspective and native perception to assist empower lives and construct resilient nations. For extra info on UNDP in Africa, kindly go to www.africa.undp.org.

About TEF: The Tony Elumelu Basis Entrepreneurship Programme is a $100 million dedication by the Tony Elumelu Basis to champion entrepreneurship improvement in Africa. Past its immediately funded annual dedication, the Basis has begun to companion with international improvement organisations and governments to scale its sturdy and confirmed strategy, with the purpose of making financial prosperity and breaking the cycle of poverty on the continent. For extra info, go to: www.tonyelumelufoundation.org

Comply with us on Twitter: @UNDP @TonyElumeluFDN @UNDPAfrica

Author: Takudzwa Abioye

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