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E74K FUNDING FOR ENTREPRENEURS TRAINING

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MBABANE – Eswatini entrepreneurs stand a chance to benefit from a mentorship and funding programme targeting African entrepreneurs.

Africa’s leading philanthropy empowering African entrepreneurs Tony Elumelu Foundation (TEF) is accepting online applications now for its 2021 entrepreneurship programme. According to information shared to this publication, this year’s intervention includes US$5000 (about E74 036 in yesterday’s exchange rate) funding, mentoring and training for each selected business.  Priority is also on the economic recovery of young African entrepreneurs following the severe impacts of the COVID-19 pandemic.

“To address the unique challenges arising from the pandemic, lift millions out of poverty and create sustainable employment across the continent, the Foundation’s entrepreneurship programme will empower over 3 500 young African entrepreneurs,” reads the correspondence in part.

The Tony Elumelu Foundation, which celebrated 10 years of impact in 2020, is said to be empowering a new generation of African entrepreneurs, through the Programme. Successful applicants receive a world-class business training, mentorship, non-refundable seed capital of over E74 000 and global networking opportunities. The programme is open to entrepreneurs across Africa, both new start-ups and existing young businesses, operating in any sector.

“The Tony Elumelu Foundation now more than ever is demonstrating our commitment to unleashing the potential of young African entrepreneurs, the key to Africa’s long-term economic transformation. The pandemic has created challenges across the continent, but we know that with the Tony Elumelu Foundation’s tried and tested programme, we can execute the largest COVID-19 economic recovery plan for African small and medium enterprises (SMEs) and break the cycle of poverty in Africa,” CEO of the Tony Elumelu Foundation, Ifeyinwa Ugochukwu was quoted saying.

launched

Meanwhile, the Tony Elumelu Foundation’s US$100million (about E1.48 billion in yesterday’s exchange rate) Entrepreneurship Programme, which was launched in 2015 to empower 10 000 entrepreneurs over 10 years, is now entering its seventh year and has empowered to date over 9 000 young African entrepreneurs from 54 African countries. Prospective applicants should apply on the digital networking hub for African entrepreneurs www.TEFConnect.com. The deadline is one the last day of next month.



 

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