The Independent Uganda: You get the Truth we Pay the Price
Kampala, Uganda | THE INDEPENDENT | Africa’s leading philanthropy, Tony Elumelu Foundation (TEF) has partnered with the European Union to identify, train, mentor and fund 2,500 young African women entrepreneurs in 2021.
The partnership will disburse €20 million in the financial and extend technical support for women-owned businesses, across all 54 African countries including Uganda, in addition to providing increased access to market linkages, supply chains and venture capital investments.
The joint initiative will significantly strengthen and deepen the EU-Africa partnership, build on the platform and experience of the US$100m TEF Entrepreneurship Programme, and form part of the EU External Investment Plan to support women economic empowerment within the EU Gender Action Plan (GAP III).
Commenting on the landmark partnership, Tony Elumelu, Founder of the Tony Elumelu Foundation said “this joint effort will prioritise and provide economic opportunities for African women, whom for too long have endured systemic obstacles to starting, growing and sustaining their businesses.”
“Our partnership will alleviate the funding, knowledge and market constraints threatening the livelihoods of women entrepreneurs on the continent, to create more income, jobs, growth and scale for women-owned businesses,” he added.
The EU Commissioner for International Partnerships, Jutta Urpilainen, said “This partnership with the Tony Elumelu Foundation will help women participants in economic development, realise their full potential and accelerate economic inclusion.”
Empowering women entrepreneurs is a key driver for sustainable jobs and growth, especially in the context of the COVID-19 pandemic and in line with the objectives of our African strategy. Women and girls represent half of the world’s population and they deserve equal opportunities.”
The Tony Elumelu Foundation, which marks ten years of impact this year, is empowering a new generation of African entrepreneurs, catalysing economic growth, driving poverty eradication and ensuring job creation across all 54 African countries.
The Foundation has trained, mentored and funded nearly 10,000 young African entrepreneurs from 54 African countries, and continues to provide capacity-building support, advisory and market linkages to over 1 million Africans through its digital networking platform, TEFConnect.
TEF’s female success stories include Joyce Awojoodu, from Nigeria, who launched a luxury botanically based product line and spa clinic in Lagos, in 2015. The brand ORÍKÌ, caters to both men and women, and strictly uses raw materials and natural ingredients from Africa.
Mavis Mduchwa, an agribusiness entrepreneur from Botswana, founded Chabana Farms, a poultry farm providing training and work for unemployed young people.
