Tony Elumelu, Chairman of the Tony Elumelu Foundation, has called for increased global support to empower young African entrepreneurs as a means to drive meaningful and sustainable transformation across the continent. Elumelu, who is also the Chairman of UBA Group Plc and Heirs Holdings, made the appeal during his speech at the Legacy Builders Palm Beach Conference in Florida, US.
Elumelu stressed the vital role African youth play in shaping the future of the continent, a vision that inspired the creation of the Tony Elumelu Foundation (TEF), which is dedicated to fostering entrepreneurship and innovation among young Africans.
Empowering Youth for Transformation
Speaking passionately about the foundation’s impact, Elumelu shared that TEF has already provided 2.5 million Africans with access to training through its online portal, TEFConnect. The foundation has lifted over 2 million people out of poverty and disbursed more than $100 million in direct funding to over 21,000 entrepreneurs. These beneficiaries have created 1.5 million jobs and generated an impressive $4.2 billion in revenue across the continent.
“Today, we have granted 2.5 million Africans access to training on TEFConnect, and lifted over 2 million individuals out of poverty,” Elumelu said. “We have also disbursed more than $100 million in direct funding to over 21,000 beneficiaries, who have created 1.5 million jobs.”
Collaborating for Greater Impact
Recognizing the scale of the challenge, Elumelu emphasized that such an ambitious program cannot succeed without global collaboration. He revealed that TEF receives over 300,000 applications annually and works with international organizations like the EU, UN, and the Red Cross, as well as family foundations such as the Ikea Foundation. “We now work with the EU, the UN, the Red Cross—and with family foundations. We launched a programme with the Ikea Foundation—they use our execution ability—we amplify the good,” Elumelu added.
Unlocking Opportunities for Every Young African
While acknowledging the significant strides made by young Africans in creating jobs and tackling poverty, Elumelu stressed that there is still more to be done. He emphasized that every young African with a dream should have the opportunity to realize it. To achieve this, knowledge-sharing, mentorship, and the creation of supportive networks are crucial in dismantling systemic barriers and providing the opportunities necessary for growth.
“Africa will not rise by chance—it will rise because of deliberate action, because of people who refuse to accept the status quo and choose instead to create the future we deserve,” Elumelu declared.
A Call for Collective Action
Concluding his address, Elumelu invited attendees of the conference to consider how they could contribute to the mission of empowering African entrepreneurs. “I invite each of you to explore how you can be part of our mission to drive meaningful and sustainable impact. Together, we can transform the African continent, one entrepreneur at a time.”
As the continent seeks to break free from poverty and build a sustainable future, Elumelu’s call to action highlights the importance of global solidarity in empowering young African entrepreneurs to be the agents of change.
