Renowned business leader and philanthropist, Tony Elumelu, has made a passionate call for global support to empower young African entrepreneurs, emphasizing their critical role in transforming the continent. Speaking at the prestigious Legacy Builders Palm Beach Conference in Florida, USA, Elumelu, who chairs the Tony Elumelu Foundation, UBA Group Plc, and Heirs Holdings, highlighted the urgent need for investment in Africa’s youth.
According to him, the future of Africa depends on its young entrepreneurs, a belief that inspired the creation of the Tony Elumelu Foundation (TEF), which has been at the forefront of empowering African startups. He revealed that TEF has provided access to training for 2.5 million Africans through TEFConnect, its online portal, and lifted over 2 million individuals out of poverty.
Elumelu further disclosed that the foundation has directly disbursed over $100 million to more than 21,000 beneficiaries. These young entrepreneurs have, in turn, created 1.5 million jobs and generated a staggering $4.2 billion in revenue across Africa.
Despite these successes, he stressed that TEF alone cannot meet the overwhelming demand, as the program receives over 300,000 applications annually. To scale its impact, TEF has partnered with global organizations such as the European Union, the United Nations, the Red Cross, and the IKEA Foundation, leveraging their resources to amplify its mission.
Acknowledging the resilience of African youth, Elumelu praised the growing number of entrepreneurs who are not only creating jobs but also driving innovation and eliminating poverty. He emphasized that every young African with a dream deserves a fair opportunity to succeed. However, achieving this requires more than just funding; mentorship, knowledge-sharing, and strong support networks are essential in breaking systemic barriers that hinder success.
Read also: Agriculture remains highest employer of labour in Africa, says Elumelu
“Africa will not rise by chance—it will rise because of deliberate action, because of people who refuse to accept the status quo and choose instead to create the future we deserve,” Elumelu declared, urging the global community to take action.
He called on participants at the conference to join the mission of empowering Africa’s next generation of business leaders, stating, “I invite each of you to explore how you can be part of our mission to drive meaningful and sustainable impact. Together, we can transform the African continent, one entrepreneur at a time.”
With Africa’s population set to double by 2050, Elumelu’s appeal underscores the urgent need for strategic investment in youth entrepreneurship. His message resonates at a time when Africa is positioning itself as the next global economic powerhouse, proving that with the right support, young entrepreneurs can drive unprecedented growth and innovation across the continent.
