The Tony Elumelu Foundation (TEF) has successfully trained over 200,000 entrepreneurs in core business management skills as part of its 2021 TEF Entrepreneurship programme
The business management training was conducted exclusively on TEFConnect, the foundation’s proprietary digital platform that provides capacity-building support, advisory and market linkages to over one million Africans and counting.
The TEF entrepreneurship programme Business Management Training equips entrepreneurs with critical skills required to launch and run their businesses at the early growth stage.
With a unique curriculum that encompasses topics on Starting Your Business, Business Management & Fundamentals, Leadership & Business Growth, Selecting and Building a Team, amongst others, entrepreneurs are effectively armed to achieve business growth, profitability, and sustained success.
Entrepreneurs were hosted to weekly information sessions, as part of the training, to address relevant concerns and share vital programme updates. All entrepreneurs received active support from coaches and mentors who provided technical guidance, counsel and one-one interaction throughout the duration of the training programme.
The training, which is one element of the seven pillars of the TEF Entrepreneurship Programme, was carried out in the official African languages including English, French, Portuguese and Arabic, and over 40 percent of trained participants were women.
Chief executive of the Tony Elumelu Foundation, Ifeyinwa Ugochukwu, commenting, said: “every year, our commitment to transform Africa is further strengthened with the passion, resilience and talent of the high-calibre entrepreneurs who onboard our flagship programme. Our curricular provides a holistic opportunity for entrepreneurs to learn, grow and contribute to the development of their communities.”
The TEF entrepreneurship training is immediately followed by a Business Plan review process for each entrepreneur. The top-performing entrepreneurs subsequently participate in the Pitching phase of the programme after which successful entrepreneurs receive a non-returnable seed capital of $5000 each.
The leading African philanthropy also hopes to train and empower thousands more across the African continent as part of its commitment to catalyze economic growth, drive poverty eradication and ensure job creation.