Founder of TEF Entrepreneurship Programme, Tony Elumelu, has explained why he launched the programme.
In a statement on Tuesday by the United Bank for Africa Plc spokesperson Abiodun Coker, Mr Elumelu said that the desire to give African entrepreneurs a platform to actualise their ambitions was his major drive in launching the programme.
“Our entrepreneurs are hard at work across the continent, identifying gaps in the market for specific products and services, and bridging these gaps with their innovation and ingenuity.
“Yet, many of these budding entrepreneurs often lack the capital, the networks, the training, the support to take their small business to national or regional scale.
“All they need is a helping hand, some luck, someone to believe in them and take a chance on them.
“This is what the Tony Elumelu Foundation offers: a platform that empowers African entrepreneurs– from business management training, to mentoring, to funding to networking – championing their cause and giving them a global voice to actualise their ambitions.
“This is precisely why I launched the USD$100 million Tony Elumelu Foundation Entrepreneurship Programme to empower the next generation of African entrepreneurs. Indeed, these may be the next UBAs (United Bank for Africa).
“So, when I am asked, ‘Tony, why are you and your family doing this? What is in it for you?’ I smile and recount my own story of luck. Luck is real, it is powerful, and I am committed to spreading it as far as I can.
“I am a beneficiary of luck, and I am passionate about sharing it across the continent, to all 54 countries,” Elumelu said.
The banker recalled how he luckily got picked for an interview, which marked the beginning of his success story, at the then Allstates Trust Bank despite being unqualified.
He added that luck was needed in achieving goals contrary to claims that hard work alone guarantees success.
