Denis Opudo
The Tony Elumelu Entrepreneurship Foundation (TEF) is a program that is expected to run for ten years with a commitment worth $100 million. The program aims at funding, training and mentoring 10,000 African youths by 2024. TEF was launched by Tony Elmelu, a Nigerian investor and philanthropist. The participants are subjected to 12 weeks vigorous online training on how to create and manage the business.
TEF is currently receiving applications for business ideas that can transform Africa. There is a call for Rwandan entrepreneurs to take part in the 2018 program. TEF which is the largest African philanthropy is now in its 4th year of operation. The previous beneficiaries from Rwanda have encouraged more Rwandans to apply to stand a position of winning capital and benefit from free training.
The program is beneficial since being part of it helps one realize that Africa is full of people who can change the current view about the continent according to Frank Mugarura who is a 2016 beneficiary. According to Frank of Gravity Rwanda, a branding, and marketing creative agency that links SMEs to their target markets. He views Africa in a different perspective after the elapse of the 12 weeks training. The program helps one to understand that Africa has potential though they run short of support and someone to motivate them and this stands as the main reason why more locals should apply.
Frank also serves as a leader of TEF Rwanda Hub. Frank said that 2018 the Hub is planning to organize campaigns that will help them in getting to more Rwandans to show them the need why they should apply to get in the program. TEF is trying to partner with the Rwanda Development Board to help both rural and urban entrepreneurs in applying. The main focus will be the people at the rural that rarely get the opportunity to access such programs. TEF targets not less than 100 Rwandan participants. Rwanda has been recording a low number of participants than compared to other countries in Africa. The country recorded participants of 23, 20, and 15 entrepreneurs in 2017, 2016 and 2015 respectively.
According to Yvette Ishimwe of Clean Water Delivery startup, entrepreneurs have some skills that they have to develop on while building their business. So far, TEF has provided about US$15 million to 3,000 African entrepreneurs for the past three years. The main point is to get hold of the best and brightest African entrepreneurs to learn and develop their businesses. In 2018 a total of 1,000 entrepreneurs will be selected based on the viability of their idea, including financial understanding, market opportunity, scalability, and leadership and entrepreneurial skills demonstrated in the application.
Parminder Vir OBE, the foundation’s chief executive who was in Rwanda in December 2017, encouraged more women to apply, saying that it is high time that African women realize their business dreams. The application will be closed on 1st May 2018.
