Tony Elumelu Foundation (TEF) has partnered with Sèmè City, the international knowledge and innovation city, to train and empower additional 50 Beninese entrepreneurs.
Sèmè City will join a growing list of governments, development agencies and private sector organisations partnering with the TEF.
As part of its partnerhsip with the Foundation, Sèmè City will invest $250,000 for the sponsorship of 50 additional Beninese entrepreneurs with innovative projects across various sectors ranging from tourism to health, energy, ICT, environment, fashion, media, entertainment and agriculture.
Incoming CEO of the Tony Elumelu Foundation, Ifeyinwa Ugochukwu, said about the partnership: “We have always advocated for a collaboration between the public and private sector and this partnership exemplifies our conviction that working together to empower African entrepreneurs is the only way to create sustainable economic development on the continent.”
Managing Director, Sèmè City Development Agency, Claude Borna, said: “Sèmè City supports innovative entrepreneurship so that it becomes a key growth factor to boost productivity, create jobs and help improve the quality of life in Benin.
“With its unique large-scale programme that promotes “Africapitalism”, the Tony Elumelu Foundation is a partner of choice to accomplish our mission of developing a vibrant knowledge-based economy in Benin.”
The partnership aims to provide beneficiaries with the necessary skills to develop high-impact ventures and also encourage female entrepreneurship.
The 50 beneficiaries will be selected in addition to the 1,000 African entrepreneurs selected during the 5th edition of the Foundation’s flagship Entrepreneurship Program.
They will benefit from the training and mentorship programme offered by the Foundation, at the end of which they will receive $ 5,000 each to develop their businesses which will, in turn, contribute to the creation of jobs and wealth in Africa.
