Vanguard Newspaper, through its official X handle, has announced that Tony Elumelu, Chairman of the Tony Elumelu Foundation (TEF), is rallying global support for young African entrepreneurs as a catalyst for the continent’s transformation.
Speaking at the Legacy Builders Palm Beach Conference in Florida, U.S., Elumelu, who also chairs UBA Group Plc and Heirs Holdings, emphasized that Africa’s youth hold the key to unlocking sustainable economic development. He underscored that this belief led to the establishment of the Tony Elumelu Foundation, which is dedicated to empowering African entrepreneurs.
Elumelu highlighted the foundation’s remarkable achievements, stating:
> “Today, we have granted 2.5 million Africans access to training on TEFConnect, our online platform, and lifted over 2 million individuals out of poverty. We have disbursed over $100 million in direct funding to more than 21,000 entrepreneurs, who have collectively created 1.5 million jobs and generated $4.2 billion in revenue across the continent.”
He acknowledged that the demand for TEF’s initiatives far exceeds its current capacity, revealing that the program receives over 300,000 applications annually. To bridge this gap, TEF has partnered with international organizations such as the European Union (EU), the United Nations (UN), the Red Cross, and the IKEA Foundation to amplify its impact.
Elumelu passionately argued that young African entrepreneurs are creating jobs, driving innovation, and lifting communities out of poverty, but systemic challenges continue to stifle their growth. He emphasized the need for mentorship, knowledge-sharing, and support networks to ensure that African youth are not held back by barriers but propelled forward by opportunities.
> “Africa will not rise by chance—it will rise because of deliberate action, because of people who refuse to accept the status quo and choose instead to create the future we deserve.”
Addressing the distinguished audience, Elumelu issued a clarion call:
> “I invite each of you to explore how you can be part of our mission to drive meaningful and sustainable impact. Together, we can transform Africa, one entrepreneur at a time.”
His remarks underscore a growing movement to harness Africa’s entrepreneurial spirit as a vehicle for long-term economic progress, urging stakeholders worldwide to join hands in shaping a thriving and self-reliant Africa.
PIONEER NEWS 