UNDP Partners with the Tony Elumelu Foundation to Empower 100,000 Young Entrepreneurs in Africa

Niamey, July 6, 2019 – The United Nations Development Program (UNDP), the agency responsible for international development, intends to collaborate with the Tony Elumelu Foundation (TEF) – Africa’s leading philanthropic organization in efforts to empower entrepreneurs – through training, mentoring and financial support for 100,000 budding entrepreneurs in Africa over a 10-year period to achieve the Sustainable Development Goals (SDGs). This programme, which places particular emphasis on support for businesses, aims to generate millions of new jobs and substantial incomes in Africa.

The announcement was made today at the 12th Extraordinary Session of the African Union (AU) Summit, where TEF Founder, Tony Elumelu, and UNDP Regional Director for Africa, Ahunna Eziakonwa, joined African Heads of State at the Continental Free Trade Area (CFTA) business forum where the agreement was signed.

The partnership will target young Africans in communities considered to be left behind, starting with the Sahel, given the potential of the region which has the youngest population in the world, with 194 million people under the age of 25 ( i.e. 64.5% of the total population). The TEF-UNDP partnership for young entrepreneurs in the Sahel region will be implemented under the TEF flagship program, which has already supported 7,520 local entrepreneurs from 54 African countries in just five years. In addition, the program will build on UNDP’s YouthConnekt initiative, with the aim of enhancing job creation through dynamic entrepreneurship and creating sustainable economic growth rooted in community development and States.

Speaking on this partnership, Ms. Ahunna Eziakonwa, UNDP Assistant Secretary-General and Regional Director for Africa, said: “We see the Sahel as a region with many opportunities and investing in youth is a prerequisite for stabilization of the region. Young people should be at the heart of any development programme. We need to invest in their potential, talent, energy and enthusiasm and give them the opportunity to fully realize their aspirations. That is why UNDP has co-crafted development solutions by investing in business models that foster inclusive growth. The partnership with young Sahelian entrepreneurs is a catalyst for transformation and sustainable development. We call on other private sector entities to join the Tony Elumelu Foundation to support budding entrepreneurs”.

For his part, Ifeyinwa Ugochukwu, CEO of the Tony Elumelu Foundation, said, “Our partnership with UNDP is timely. It will directly contribute to the success of businesses in a number of fragile areas and is proof of the relevance of the approach we have adopted in terms of sponsorship. Africa needs partners who not only believe in the potential of its private sector to support economic development, but also support it. With this agreement, UNDP has proven itself as a true partner of African entrepreneurs and has demonstrated its commitment to working with us to increase the impact of this initiative and eradicate poverty on the continent”.

Through the partnership, selected applicants will each receive non-refundable seed capital of up to $5,000, access to mentors, 12-week entrepreneurship training, and networking opportunities. They will join the circle of 3,051 previously announced beneficiaries of the 2019 cohort of the TEF entrepreneurship program.

Applications will be processed on TEFConnect, the largest digital networking platform for African entrepreneurs, and forms will be available at UBA branches in the relevant countries. After the end of the application date, an initial list of 5,500 applicants will be selected to attend the 12-week entrepreneurship training. After the training, the final list of 2,000 successful applicants will be announced to join the previous TEF 2019 cohort.

The TEF-UNDP Sahel Youth Entrepreneurship Program is in line with the vision of the African Union (AU) Youth Decade Action Plan and the United Nations Youth Strategy in towards 2030. These strategies aim to help young people reach their full potential through education, skills development, youth employment and entrepreneurship, towards the achievement of the Goals. sustainable development and the AU Agenda 2063.

Speaking at the launch of the similar One Million by 2021 initiative, the Chairperson of the African Union Commission said: “The One Million by 2021 Agenda is a call to action launched by Africa which aims to ensure that no young person between the ages of 15 and 35 is left behind. The initiative adopts a pan-African perspective and facilitates strategic partnerships to provide new opportunities for young Africans.

The AU has the expertise, the ability to cast a wide net thanks to its continental reach, but it alone cannot guarantee success. We need the commitment of our public and private sector partners to succeed. Faced with our gigantic project, a collective effort is necessary to continue the fight and meet the challenge. In Africa, we say, “The bundles of wood tied together are hard to break.” This is the approach we need to take”.

###

For more information please contact:

In Niamey: Amadou Djibo, +227 91 20 83 13

In Lagos: Ifesinachi Okpagu, +234-803-571-4367

About UNDP:

UNDP works with people and institutions at all levels of society to help build countries that can withstand crises and to foster and sustain growth that improves the quality of life for all. Present in some 170 countries and territories, we take a global approach and a local vision to help empower people and build resilient nations. For more information on UNDP in Africa, please visit www.africa.undp.org.

About TEF:

The Tony Elumelu Foundation Entrepreneurship Program is a $100 million initiative of the Tony Elumelu Foundation aimed at promoting entrepreneurship development in Africa. Beyond its directly funded annual commitment, the TEF has begun to partner with global development organizations and governments to extend its robust resources and original approach to creating economic prosperity and breaking the cycle. poverty on the continent. For more information on the TEF visit: www.tonyelumelufoundation.org

Follow us on Twitter: @UNDP @TonyElumeluFDN @UNDPAfrica

?

From left to right: Ahunna Eziakonwa, UNDP Regional Director for Africa; Tony Elumelu, Promoter of the Tony Elumelu Foundation; during the signing of the TEF-UNDP Partnership for Youth Entrepreneurship Program for the Sahel Region during the AU Summit in Niamey, Republic of Niger

👉 Click here to join news group on Whatsapp