The Tony Elumelu Foundation (TEF) concluded its 3rd annual TEF Entrepreneurship Forum in Lagos on October 14.
It hosted more than 1,300 participants from 54 African countries in continuation of its strong tradition of showcasing innovation across sectors, including agriculture, technology, healthcare, fashion and energy/power generation.
Launched in 2015, the forum was born out of the foundation’s $100 million commitment to identify, train, mentor and fund 10,000 African entrepreneurs, over a decade, through the TEF Entrepreneurship Programme.
Giving a keynote address, TEF founder and chairman of the United Bank for Africa, Tony Elumelu, spoke of his belief that a vibrant African-led private sector is the key to unlocking Africa’s economic and social potential.
The two-day event, which involved plenary panels and masterclasses, provided the Tony Elumelu Entrepreneurs with a platform to network and connect with business leaders, policymakers and investors.
Focusing on the forum’s theme of training and mentoring, speakers discussed topics that educated, empowered and inspired the entrepreneurs, addressing the key stages needed to successfully launch a business.
The speaking programme emphasised the foundation’s role of uniting entrepreneurs and policymakers, as a means of ensuring that private and public sectors work together to create the best possible operating environment for entrepreneurship to thrive.
Political and private sector leaders from across Africa, including Governor of Katsina State, Aminu Masari; Governor, Zamfara State, Abdul’aziz Yari; former Prime Minister, Republic of Benin, Lionel Zinsou; Chairman, Honeywell Group, Oba Otudeko, and Chairman, Dangote group, Aliko Dangote, directly addressed the conditions needed for stimulating entrepreneurial growth, whilst senior members of global development institutions spoke of a new paradigm, driven by the need for a private sector-led change.
“The private sector working with the public sector can achieve so much by way of development. African governments should move beyond rhetoric and implement their ideas,” Oba Otudeko enthused.
Addressing the 3rd cohort of TEF entrepreneurs, Vice President Professor Yemi Osinbajo said: “This generation of young people will do the exceptional. You are the reason Africa will work. The length and breadth of display of talent have shown that there is indeed hope”.
The forum also witnessed multiple partnerships between United Nations Development Programme (UNDP) and the Foundation, and between French bilateral development bank, Agence Française De Développement (AFD) and TEF.
