27 Ugandans to receive $5,000 grant each from Tony Elumelu Foundation this year
A total of 27 Ugandans will benefit from the $5,000 non-refundable grant by the Tony Elumelu Foundation.
The 27 are part of the 1,104 beneficiaries from 54 African countries who are the 10th cohort who will also get mentorship and training in the course of the year to boost their businesses.
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Speaking during the announcing on Friday, the founder and chairman of TEF, Tony Elumelu noted that, over the past 10 years since the programme was launched, it has been able to empower African entrepreneurs, drive poverty eradication and catalyse job creation across all 54 African countries.
“We believe in spreading luck, we believe in democratizing luck, we believe in prosperity, and we think that the easiest way to spread prosperity in Africa is by identifying our young ones, encouraging them and helping them to start their own businesses. This is why we have done this,” Elumelu, who is also the chairman of United Bank for Africa(UBA) Group said.
“Till date, over 20,000 young men and women from across Africa have received over $100 million in support of their program. We are happy to see our young ones progressing. We are happy that what we started alone as Tony Elumelu foundation will have been able to identify and partner with other global institutions.”
Commenting about the development in Kampala, Hoziana Niyonsaba, the Head Marketing and Corporate Communications at United Bank for Africa, Uganda said that since 2015 to date, 997 Ugandans have benefited from the Tony Elumelu Foundation.
“Today, 27 Ugandans have been announced as this year’s beneficiaries and it will make a total of $100 million received by Ugandans from the Tony Elumelu Foundation. As UBA, it is key for us to follow up and ensure these Ugandans get their money to support businesses and see how they will be performing,” Niyonsaba said.
She said the businesses of the previous winners are still performing well, noting that these are in various areas including technology, beauty, fashion and agriculture among others.
“ These are celebrations we bring to our heart as a bank to appreciate and recognize.”
Faith Kwera, the founder and CEO of Quera tickets, a ticketing solutions company, one of the beneficiaries of the Tony Elumelu Foundation spoke of the benefits.
She said she was able to get mentorship and training in business management which she noted has seen the company grow and sales go up.
