— Disburses first tranche of US$5M partnership commitmentTony O. Elumelu has congratulated the African Development Bank (AfDB), and AfDB President Akinwumi Adesina, on their commitment to African entrepreneurship, with the disbursement of US$2.5 million seed capital to the AfDB-sponsored beneficiaries of the 2019 TEF Entrepreneurship Programme. The AfDB commitment follows the recent US$8.5 million disbursement from the United Nations Development Programme (UNDP) to 2,648 entrepreneurs in the Sahel region and Africa more broadly, and further accelerates the economic empowerment generated by the Tony Elumelu Foundation. Since its inception, at least 35 young Liberian entrepreneurs have benefited so far from this illustrious program. With its commitment to strengthen small and medium-sized enterprises and develop young entrepreneurs, AfDB joined the growing list of global development institutions benefiting from the Tony Elumelu Foundation’s unique model of identifying, training, mentoring and funding entrepreneurs and start-ups across Africa. The Foundation is currently accepting applications to the 2020 cohort of its flagship Entrepreneurship Programme on TEFConnect.com, Africa’s digital hub for entrepreneurs.

Source: Daily Observer February 19, 2020 02:31 UTC