5,240 Youths Across Africa Shortlisted For The “Tony Elumelu” Foundation’s Business Training.

Tony Elumelu with his audience.

The Tony Elumelu Foundation in partnership with the United Nations Development Programme, has announced the selection of about 5,240 young African entrepreneurs to receive business training.

In July, there was an ultimate empowerment of 100, 000 youths in Africa through the partnership between the UNDP and the TEF Foundation, a development which was announced at the African Union (AU) Summit in Niamey.

The first year of the programme is said to target Sahel countries, while promoting gender inclusion and post-conflict economic growth, in Nigeria, Niger, Mauritania, Chad, Mali, Burkina Faso and Cameroon and according to a statement received by PREMIUM TIMES, the shortlisted 5,240 entrepreneurs were selected from over 81,000 applications received from seven Sahel countries.

It also said that the entrepreneurs will be given business training in the next stage of the inaugural TEF-UNDP Entrepreneurship Programme as the shortlisted entrepreneurs, according to the foundation, will gain access to robust business training that will equip them for the development of their business plans and prepare them to pitch their business ideas.

After the training, the foundation said 2,500 applicants will be shortlisted in November to participate in a pitching competition organised by the programme’s partner, the UBA Foundation, where 2,100 entrepreneurs will be selected finally with the select 2,100 receiving the seed capital and be announced by December.

The final beneficiaries will join the current 7,531 TEF alumni network, gain access to TEF’s networks, digital platform and receive non-refundable seed capital based on their business needs”.