As the continent looks towards its entrepreneurs. With a majority of African nations diversifying from traditional sources of income, entrepreneurship is increasingly seen as a key to economic growth.
Looking into the infrat tenuous economic statistical analysis, it shows vividly that entrepreneurial development is one of the strategic growth tools in which the continent can evolve her economic potentiality.
- Nigeria is expected to be the 3rd most populous country by 2050 with a population of over 300 million while several other African countries are projected to have more than doubled their population in the same time period.
- Africa, in general, is expected to account for more than half of the world’s population growth between 2015 and 2050.
- 41% of Africans are currently under the age of 15 and 60% of the continent is below the age of 25.
- Now, 9 out of 10 working African youth are poor or near poor and over the next 10 years, only one in four of Africa’s youth are expected to find a wage job at best.
- The youth population in Africa is expected to double, to over 830 million, by 2050.
- In Nigeria alone, over 40 million additional jobs will be needed between now and 2030.
Entrepreneurship development is basically the process of improving the skill set as well as the knowledge of the entrepreneurs. The process of entrepreneurship development is nothing but helping the entrepreneurs develop their skills through training and application of that training.
Now, Tony Elumelu Foundation as an African non-profit organization.
Founded in by Tony O. Elumelu and headquartered in Lagos. Nigeria Tony O. Elumelu belief that, with the right support, entrepreneurs can be empowered to contribute meaningfully to Africa’s prosperity and social development.
It is has also been a great ĵmoment, since the establishment of Tony Elumelu Foundation, in the areas of entrepreneurship, small and medium scale businesses development to the young continent of Africa.
We are pleased to announce the partnership between the Tony Elumelu Foundation and UNDP to empower 100,000 additional entrepreneurs in 7 Sahel African countries over a 10-year period. This is in addition to the 10,000 African entrepreneurs that the Foundation is already committed to; stated in TEF News letter.
Starting this July, applications open for African entrepreneurs residing in the following countries: Nigeria (Northern), Niger, Chad, Cameroun, Mauritania, Mali and Burkina Faso.
With this partnership, the Tony Elumelu Foundation will give hope to the thousands of African entrepreneurs who have not been selected for its TEF Entrepreneurship Programme.
Across Africa, entrepreneurs are starting every size, and every type, of business. Without adequate entrepreneurship education, mentorship and business support, Africa faces a very uncertain future.
So, we are imploring international organizations, wealthy African descants to partner with the likes of TEF or follow their empowerment path in the areas of entrepreneurship development and employment growth strategies in Africa, that have helping thousand of Africans since inception of the programme.