Ugandan entrepreneurs brainstorm on opportunities in digital world

Over 5,000 African entrepreneurs, private and public sector leaders and the broader entrepreneurship ecosystem including Ugandans have convened in Lagos, Nigeria for the annual Tony Elumelu Foundation (TEF) Entrepreneurship Forum.

The event which is the largest gathering of African entrepreneurs in the world, is a unique opportunity for bringing together young business talent, creating dynamic networks and transmitting the message to policymakers that a vibrant and responsible private sector will deliver economic transformation.

Now in its fourth year, the forum marked the graduation of the 2018 cohort of the TEF Entrepreneurship Programme, following a rigorous nine-month period of training, mentorship and funding, which brought the total number of beneficiaries of the Programme to 4,470, with over 300,000 applications received to date.

Uganda this year had 126 successful applicants.

One of the highlights was the unveiling of TEFConnect, a revolutionary digital community that brings together the complete entrepreneurship ecosystem across Africa and beyond, including entrepreneurs, investors and the broader business community on one platform and connecting them digitally with capital, market and business tools.

Commencing with a series of goodwill messages from key stakeholders in the investment, governmental and development communities, the event featured a pitching competition, panel discussions, as well as an interactive session between with Ghana President, Nana Akufo-Addo and the entrepreneurs.

The forum also featured a session on the role of the private sector in the economic development of Africa with Dr. Awele Elumelu, TEF Trustee, Founder, Avon Medical and Gavi Champion for Immunisation in Africa.

Tony Elumelu reiterated his commitment to championing Africa’s economic development by supporting and training a new generation of entrepreneurs, whose successes can transform the continent, delivering opportunity, job creation and social impact.

“Our Foundation and its unique approach of training, mentoring and funding has proven that entrepreneurship is the key to unlocking economic transformation of our continent,” said Elumelu.

“With TEF Connect, we have created a tool that provides a digital platform to host ideas, champion success and demonstrate Africans ability to use the most advanced technologies to take charge of their economic destinies.”

Ghana President Nana Akudo-Addo underlined the importance of galvanizing the broad entrepreneurship eco-system, calling on public sector representatives to encourage, support and replicate the work of the Tony Elumelu Foundation in their respective regions.

He also emphasized the importance of having the right policies in place.

“Nothing is changed or developed on its own. People must get up, speak, have discussions and change the dialogue,” he said.

Since its inception, the Tony Elumelu Foundation has empowered African entrepreneurs across the continent with a $5,000 non-refundable seed grant, a bespoke training programme designed specifically for the African environment and access to a dedicated group of mentors, significantly contributing to economic growth, job creation and revenue generation.

Over 300 budding Ugandan entrepreneurs have since benefitted from the programme.