{"id":77299,"date":"2020-12-11T00:24:00","date_gmt":"2020-12-10T23:24:00","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=77299"},"modified":"2020-12-11T00:24:00","modified_gmt":"2020-12-10T23:24:00","slug":"the-tony-elumelu-foundation-and-european-union-partner-to-transform-economic-empowerment-of-african-women","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/other-news\/the-tony-elumelu-foundation-and-european-union-partner-to-transform-economic-empowerment-of-african-women\/","title":{"rendered":"The Tony Elumelu Foundation and European Union Partner to Transform Economic Empowerment of African Women"},"content":{"rendered":"
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The Tony Elumelu Foundation (TEF)<\/a>, Africa\u2019s leading philanthropy committed to empowering young African entrepreneurs, has announced a partnership with the European Union to identify, train, mentor and fund 2,500 young African women entrepreneurs in 2021.\u00a0 The partnership will disburse \u20ac20 million in financial and technical support for women-owned businesses, across all 54 African countries, in addition to providing increased access to market linkages, supply chains and venture capital investments.<\/div>\n
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The joint initiative will significantly strengthen and deepen the EU-Africa partnership, builds on the platform and experience of the US$100m TEF Entrepreneurship Programme, and forms part of the\u00a0EU External Investment Plan<\/a>to support women economic empowerment within the\u00a0EU Gender Action Plan (GAP III)<\/a>.<\/p>\n

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Commenting on the landmark partnership, Tony Elumelu, Founder of the Tony Elumelu Foundation said\u00a0\u201cWe are delighted to partner with the European Union, sharing our unique ability to identify, train, mentor and fund young entrepreneurs across Africa.\u00a0 This joint effort will prioritise and provide economic opportunities for African women, whom for too long have endured systemic obstacles to starting, growing and sustaining their businesses.\u00a0 Our partnership will alleviate the funding, knowledge and market constraints threatening the livelihoods of women entrepreneurs on the continent, to create more income, jobs, growth and scale for women-owned businesses.\u201d<\/i><\/div>\n

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The EU Commissioner for International Partnerships, Jutta Urpilainen, said\u00a0\u201cThis partnership with the Tony Elumelu Foundation will help women participants in economic development, realise their full potential and accelerate economic inclusion.\u00a0 Empowering women entrepreneurs is a key driver for sustainable jobs and growth, especially in the context of the COVID-19 pandemic and in line with the objectives of our African Strategy.\u00a0 Women and girls represent half of the world\u2019s population and they deserve equal opportunities.\u201d<\/i><\/p>\n

 <\/p>\n

The Tony Elumelu Foundation, which marks ten years of impact this year, is empowering a new generation of African entrepreneurs, catalysing economic growth, driving poverty eradication and ensuring job creation across all 54 African countries.\u00a0 The Foundation has trained, mentored and funded nearly 10,000 young African entrepreneurs from 54 African countries, and continues to provide capacity-building support, advisory and market linkages to over 1 million Africans through its digital networking platform, TEFConnect.<\/p>\n

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TEF\u2019s female success stories include Joyce Awojoodu, from Nigeria, who launched a luxury botanically based product line and spa clinic in Lagos, in 2015.\u00a0 The brand OR\u00cdK\u00cc, caters to both men and women, and strictly uses raw materials and natural ingredients from Africa.\u00a0 Awojoodu\u2019s favourite element of the TEF Entrepreneurship Programme was the mentorship, which she described as\u00a0\u201cphenomenal<\/i>\u201d\u2019 and\u00a0\u201cinvaluable\u201d<\/i>\u00a0for OR\u00cdK\u00cc.\u00a0 In her own words,\u00a0\u201ceach Tef Entrepreneur was assigned a mentor and I could not have asked for a better one.\u00a0 TEF connected us.\u00a0 Now the mentorship continues, and I know I will always have an ear to share my thoughts about the business with a person who can also offer advice\u201d.<\/i><\/p>\n

 <\/p>\n

Mavis Mduchwa, an agribusiness entrepreneur from Botswana, founded Chabana Farms, a poultry farm providing training and work for unemployed young people.\u00a0 Even though agriculture accounts for 32% of Africa\u2019s gross domestic product, landownership and access to land remains a significant challenge for many farmers, especially women.\u00a0 According to Mduchwa,\u00a0\u201cin Botswana, about 80% of people survive on agriculture, and many of them are women.\u00a0 But, if as a women you want to turn it into a business, you have a challenge of finding land.\u201d<\/i>\u00a0 Mduchwa has used the seed capital and training from TEF to significantly expand her operations.<\/p>\n

 <\/p>\n

The Tony Elumelu Foundation and the European Commission are proud to partner to unlock the dynamic potential of African women entrepreneurs, directly catalysing African\u2019s economic growth and contributing to Africa\u2019s prosperity and social development.\u00a0 The programme co-funded by the European Union, the Organisation of African, Caribbean, and Pacific State (OACPS), and the German Federal Ministry for Economic Cooperation and Development (BMZ), will further scale the Foundation\u2019s efforts in directly addressing some of the most endemic challenges to African start-ups \u2013 skills and capacity gaps, financial constraints and lack of access to mentoring, networks and market linkages.<\/p>\n

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Following completion of the programme, the entrepreneurs will stay connected to partners and to each other through their lifetime membership on TEFConnect.\u00a0 TEF has set up Country Chapters in 54 African countries to support the entrepreneurs as they grow and expand their businesses.<\/div>\n<\/div>\n<\/div>\n
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The Tony Elumelu Foundation (TEF), Africa\u2019s leading philanthropy committed to empowering young African entrepreneurs, has announced a partnership with the European Union to identify, train, mentor and fund 2,500 young…<\/p>\n","protected":false},"author":1,"featured_media":75198,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[4],"tags":[],"class_list":["post-77299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other-news"],"yoast_head":"\nThe Tony Elumelu Foundation and European Union Partner to Transform Economic Empowerment of African Women - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/other-news\/the-tony-elumelu-foundation-and-european-union-partner-to-transform-economic-empowerment-of-african-women\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Tony Elumelu Foundation and European Union Partner to Transform Economic Empowerment of African Women - 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