Tony Elumelu Foundation Disburses First Tranche of $5m Partnership Commitment from African Development Bank

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  •   AfDB Joins TEF Programme Catalysing Entrepreneurship Across Africa

Tony O. Elumelu,
CON, has congratulated the African Development Bank (AfDB), and AfDB President
Akinwumi Adesina, on their dedication to African entrepreneurship, with
the disbursement of $2.5million seed capital to the AfDB-sponsored
beneficiaries of the 2019 TEF Entrepreneurship Programme. $2.5m was launched
at this time, with the rest anticipated to be disbursed to the entrepreneurs in
Q12020.

The AfDB
dedication follows the current $eight.5 million disbursement from the United Nations
Development Programme (UNDP) to 2,648 entrepreneurs within the Sahel area and
Africa extra broadly, and additional accelerates the financial empowerment generated
by the Tony Elumelu Foundation. In 2019, the Foundation considerably elevated
the size and attain of it affect, with the variety of beneficiaries of its
flagship Entrepreneurship Programme rising from its annual dedication of 1,000,
to five,150, in collaboration with international and African companions.

 With its
dedication to strengthen small and medium-sized enterprises and develop younger
entrepreneurs, AfDB joined the rising record of worldwide growth establishments
benefiting from the Tony Elumelu Foundation’s distinctive mannequin of figuring out,
coaching, mentoring and funding entrepreneurs and start-ups throughout Africa. The
partnership demonstrates the implementation of the AfDB’s ten-year “Jobs for
Youth in Africa” technique, launched in 2016, to help the creation of 25
million significant jobs throughout the continent.

The partnership
illustrates TEF’s willingness to share its infrastructure and know-how, with
others who share the mission to empower younger African entrepreneurs and TEF’s
objective of making tens of millions of jobs, in addition to producing

 billions in
income, to catalyse financial development throughout the continent.

The Foundation is
at present accepting functions to the 2020 cohort of its flagship Entrepreneurship
Programme on TEFConnect.com, Africa’s digital hub for entrepreneurs.

The put up Tony Elumelu Foundation Disburses First Tranche of $5m Partnership Commitment from African Development Bank appeared first on SME Digest!.

Durodola Bolaji

A network marketer, entrepreneur and investor, I am happily married with kids. I reside in Ibadan and run a company in Northern side of Nigeria. I am currently earning passive income working from the comfort of my home using the Internet, email, and the telephone with an incredible sense of security and peace of mind. I've been earning a full-time income from home online since 2014, mostly within the network marketing and direct sales industry, and in recent years.

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