Google unveils US$6m funding program to support African start-ups

AFRICA – Tech giant Google has unveiled three programmes worth US$6 million which are expected to support women and young entrepreneurs and innovators in at least 13 African countries. Under the first programme, Google will grant US$3 million to the Tony Elumelu Foundation to support women-owned start-ups in the continent to upscale their ideas. The tech giant says the fund will help in providing entrepreneurship training, mentorship and coaching to at least 5,000 women as well as seed capital in the form of one-time cash grants to 500 African women…

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Tony Elumelu Foundation and UBA to support innovative ideas in rural Kenya

KENYA – United Bank for Africa (UBA) and Tony Elumelu Foundation have partnered to fund innovative business ideas from rural areas in Kenya as part of its Covid-19 recovery plan for the year 2021. The two bodies are seeking applications from Kenyans who have “brilliant, scalable ideas”. The applications, which opened in January 2021 and closes end of March 2021, comes at a time that most small and medium enterprises (SMEs) are reeling from the economic fallout of Covid-19. In 2019, TEF said that about 70 percent of applications come…

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Tony Elumelu Foundation announces three senior executive appointment

NIGERIA -The Tony Elumelu Foundation (TEF), the leading philanthropy empowering African entrepreneurs, has announced three senior executive appointment. Somachi Chris-Asoluka becomes Director, Partnerships and Communications, from her prior role as Head of Policy and Partnerships.  Titilope Akinola, who is now Director of Operations, served as head of our platform, TEFConnect, Africa’s leading digital hub for entrepreneurs; and Nkem Onwudiwe, who newly joins our Marketing and Corporate Communications team. “We are extremely pleased with these appointments. It brings formidable corporate experience, across digital marketing, content creation, PR and strategy,” Ifeyinwa Ugochukwu,…

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Tony Elumelu Foundation partners with EU to empower African women entrepreneurs

NIGERIA – The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy committed to empowering young African entrepreneurs, has announced a partnership with the European Union (EU) to identify, train, mentor and fund 2,500 young African women entrepreneurs in 2021. The partnership would disburse €20 million (US$24.30m) in financial and technical support for women-owned businesses across all 54 African countries, in addition to providing increased access to market linkages, supply chains and venture capital investments. “We are delighted to partner with the EU, sharing our unique ability to identify, train, mentor and…

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Tony Elumelu gets US$5m AfDB grant to scale up entrepreneurship programme

NIGERIA – The board of directors of the African Development Bank has approved a grant of US$5 million to enable the Tony Elumelu Foundation entrepreneurship programme to scale up its outreach and impact to 1,000 select youth entrepreneurs. AfDB stated that the partnership would 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…

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