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In a statement published last month on its website, the foundation states that it received over 216 000 applications, with nearly 90 000 having been submitted by female entrepreneurs. A list of the selected entrepreneurs can be accessed here (opens as PDF).
Each of the 3050 entrepreneurs will receive $5000 in seed capital, access to mentors and participate in a 12-week long business training programme.
The 3050 entrepreneurs will each receive $5000 in seed capital
The entrepreneurs will all gather together at the TEF Entrepreneurship Forum on 26 and 27 July. The location of the forum has not yet been announced.
In a statement last Thursday (25 March), the African Development Bank (AfDB) announced that it had, along with the Tony Elumelu Foundation, signed a letter of intent to accelerate youth entrepreneurship across Africa.
The agreement, which was signed on 22 March in Abuja will see the foundation and development bank focus on strengthening small to medium enterprises, talent and skill development initiatives for African youth.
The AfDB explained in the statement that its participation will enable an additional 1000 entrepreneurs to benefit from the foundation’s programme.
Commenting in the same statement, the foundation’s incoming CEO Ifeyinwa Ugochukwu said the increase in applications for the programme this year demonstrates a “burning desire” of the African entrepreneur to develop the continent.
“We must urgently convert this passion into viable businesses to develop our continent,” said Ugochukwu.
Featured image: Tony Elumelu FDN via Twitter