The Tony Elumelu Foundation (TEF) announced this Friday, December 11, a collaboration with the European Union (EU) to identify, train, mentor and finance 2,500 African entrepreneurs. This partnership will allow the European institution to provide significant support of 20 million euros to women-owned businesses in 54 African countries.
“We are delighted to partner with the European Union, sharing our unique ability to identify, train, mentor and finance young entrepreneurs across Africa. This joint effort will prioritize and provide economic opportunities to African women, who for too long have faced systemic barriers to start, grow and maintain their businesses, ”said Tony Elumelu, founder of TEF.
According to the EU, this partnership will help participating women in economic development, realize their full potential and accelerate economic inclusion especially in the context of the COVID-19 pandemic. The TEF Entrepreneurship Program has a fund of $ 100 million.
