By Bamidele Temitope Johnson
Tony Elumelu has managed to make entrepreneurship feel like a comic book story. With his signature red tie, an Instagram-worthy smile, and a flair for turning everyday people into entrepreneurs, Elumelu is not the regular tycoon who just invests in stocks and businesses. He is investing in vibes, vision, and the kind of raw drive powering the dreams of Africa’s youth.
The typical billionaire gives everyday chaos of youth dreams a swerve, but Elumelu seems to relish being in the thick of it-suit on, sleeves rolled up, surrounded by young people pitching everything from cassava processing to drone-powered agriculture.
He’s got licit claims to being addressed as the fairy godfather of African entrepreneurship. In place of the wand that fairies carry, he’s got capital. In tonnes, that is.
His launch of his self-named foundation in 2015 was accompanied by a $100 million commitment to fund and mentor 10,000 African entrepreneurs over 10 years. While most billionaires go shopping for private jets, Elumelu is shopping in rural Kenya, Northern Nigeria, the backstreets of Accra.
Through the Tony Elumelu Foundation (TEF) Entrepreneurship Programme, young people apply for training, mentorship, and a startup seed capital of $5k which, in youth entrepreneur currency, is pure gold dust. For many, this is the difference between being stuck with an idea and running a business with customers.
It ain’t just the cash, however. The initiative provides structure and mentorship as well as the chance to get your LinkedIn page to attract covetous glances when you say: “Tony Elumelu helped me launch my business.”
… Johnson is a journalist.
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