The Tony Elumelu Foundation Entrepreneurship Programme of the Tony Elumelu Foundation (TEF) is praxis for Africapitalism. In more contemporary times, the Abuja Treaty 1991 of the Organisation for African Union (OAU), now African Union (AU) that creates the African Economic Community (AEC), has as its primary objective, “to promote economic, social and cultural development and the integration of African economies in order to increase economic self-reliance and promote and endogenous and self-sustained development.” Africapitalism can therefore be seen to be closely aligned with the objective of the African Economic Community. This proposed approach strategically aligns with the Abuja Treaty of 1991 that establishes the African Economic Community (AEC). The Economic Community of West African States (ECOWAS) is the REC for West Africa, where it is expected that the Tony Elumelu Foundation Entrepreneurship Programme be more concentrated. In providing more vigour to ECOWAS as a REC, Africapitalism can therefore be strategically aligned with the success of a true African Economic Community, driven by African entrepreneurs.

Source: The North Africa Journal July 08, 2020 04:07 UTC