The new beneficiaries to be named will become the 10th cohort of the 10-year-long TEF Entrepreneurship Programme.
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The Tony Elumelu Foundation, the leading philanthropy empowering a new generation of young African entrepreneurs, hosted a delegation of esteemed partners from the European Union at the iconic Transcorp Hilton in Abuja on the occasion of the visit of the EU Commissioner for International Partnerships, Jutta Urpilainen, and the EU delegation to Nigeria.
The initiative will fund 200 additional young African entrepreneurs complementing the $100 million Tony Elumelu Foundation Entrepreneurship Programme that has identified, trained, mentored and funded over 9,000 entrepreneurs from all 54 African countries since 2015.
This was part of the recommendations made by the Chairman of the United Bank for Africa Plc, Tony Elumelu, in his address at the Joshua Generation International Youth Conference, hosted at the University of Nigeria, Nsukka in Enugu State.
The TEF-UNDP Sahel Youth Entrepreneurship Programme, which is expected to mobilise support for businesses, aims to generate millions of new jobs and contribute at least $10 billion in new annual revenues across Africa.