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Applications for Tony Elumelu Foundation Entrepreneurship Programme 2019 Opens on TEFConnect

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the Tony Elumelu Foundation will begin accepting applications for the fifth cycle of its Entrepreneurship Programme. 1,000 selected applicants will join the current 4,470 beneficiaries of the Programme.

Since 2015, the TEF Entrepreneurship Programme – the only African-funded entrepreneurial catalyst of its kind – has empowered 4,470 African entrepreneurs, with seed capital of $5,000 each; twelve weeks of accelerated online business training; access to experienced mentors; and membership of Africa’s largest entrepreneurial ecosystem.

Beneficiaries of the Programme have been profiled in global media, including the Forbes [Africa] 30 Under 30 list. They have attracted the attention of investors, as well as have been recipients of awards, including the Google Impact Challenge and the Chivas’ “The Venture” Award for Social Entrepreneurs.

The Entrepreneurship Programme has facilitated exchanges between African entrepreneurs and local and global public sector leaders, investors and development partners, raising their business profiles, scaling their opportunities, showcasing their innovation and identifying ways to further strengthen the business environment in Africa. In June 2018, the Foundation convened a forum with President Emmanuel Macron of France and young African entrepreneurs. In October 2018, the Foundation was proud to have President Nana Akufo-Addo of Ghana and President Uhuru Kenyatta of Kenya address the gathering of young African entrepreneurs at the TEF Entrepreneurship Forum.

The Foundation’s investment, impact and commitment to advancing entrepreneurship is predicated on the belief that Africa’s entrepreneurs hold the key to unlocking the potential of the continent and facilitating the transformation of Africa.  With this objective, the Tony Elumelu Foundation launched the TEF Entrepreneurship Programme, its US$100 million flagship programme to identify over a period of 10 years, 10,000 African startups and entrepreneurs, with ideas that have the potential to transform the African continent. Its goal is to invest in businesses that together can generate at least 1,000,000 new jobs and contribute at least $10 billion in new annual revenues across Africa.

The TEF Entrepreneurship Programme is open to citizens and legal residents of all African countries, who run businesses based in Africa that are less than three years old. Business ideas that are yet to launch are also encouraged.

The 2019 Applications will be hosted on the largest digital networking platform for African entrepreneurs – TEFConnect on www.tefconnect.com.

Tony O. Elumelu, Founder of the Tony Elumelu Foundation and President Nana Akufo-Addo, President of Ghana pose with a beneficiary of the TEF Entrepreneurship Programme at the 2018 TEF Entrepreneurship Forum.

President Uhuru Kenyatta, President of Kenya addressing young African entrepreneurs at the 2018 TEF Entrepreneurship Forum

A cross-section of excited young African entrepreneurs at the 2018 TEF Entrepreneurship Forum

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UBA Rewards 20 more Customers with N30m in Wise Savers Promo

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United Bank for Africa (UBA) has rewarded another 20 customers who emerged winners in the second quarterly draw of the UBA Wise Savers Promo with N1.5 million each, bringing the total amount won by 40 customers so far to N60 million.

The electronic raffle draw which was held at UBA House on Thursday 18th of April, was witnessed by the Consumer Protection Council, National Lottery Regulatory Commission and Lagos State Lottery, Board.

Lucky winners who emerged in the second edition, cut across all regions of the country. They include Alli Abiodun Ganiu, Tari E Francis; Onah Joseph, Okwandu Faith Ezinne, Igwedinma Chiedozie Onyekachi, Mgbakor Edmund Eke, Nwokoye Adeseye Ifeanyichukwu and Achi Sheyin Micheal.

Others are Onyekwuluje Christiana Osho; Ibilola U Okeke; Amos Luka, Mukhtar Halima, Musa Abubakar, Olanrewaju Kolade David; Okongwu Hillary Chidinma; Loretta O Okodua; Adeyemo Biodun Adeola; Oyewusi Oyeyinka Abidemi;  Adeola O Adewumi and Anyanwu Vivian.

The promo, which commenced in September last year is expected to run till September 30, 2019, and will see another 40 customers from across Nigeria become millionaires, winning N60 million in the remaining quarters of the year. At the end of the promo, a total of N120 million will have been won by 80 customers.

Speaking during the event, UBA’s Executive Director, Ayo Liadi, expressed satisfaction at the level of response received from customers across the country, adding that the campaign was targeted at rewarding loyal customers and also inculcating in them the habit of saving regularly.

He noted that there was a remarkable increase in the number of participants in this edition compared to the previous one, adding that the bank’s objective of helping customers’ save for the rainy day is being achieved.

He said: “It is very easy to spend money but to save is a habit all must imbibe. Our key objective is to encourage our customers to save regularly. We are here to support our customers and to encourage them to save as well.”

Ayo Liadi urged other customers to take advantage of the subsequent opportunities the remaining two quarterly draws offer.

According to Liadi: “There is no better time to give back and delight customers than this challenging economic period where people need all the support they can get to make life more meaningful. With this in mind we decided to prioritise our customers as we always do at UBA by giving them plenty to cheer about and that is the reason why another 20 more customers have been made millionaires today”.

“During the recent cheque presentation to the first quarter lucky winners, I watched with bated breath how happy and elated each of the winners became. You could easily see the joy and happiness in their eyes indicating that the N1.5m would make a huge impact in their lives. That in itself will spur us to do more in fulfilling their dreams” he said.

 

 

Head Retail Liabilities, Tomiwa Sotiloye, while explaining that the promo was consistent with the bank’s novel initiatives in prioritizing customers, said that it was necessitated by the invaluable belief the Bank has in its customers. “We will continue to listen and give them nothing short of the best that they deserve. UBA will not relent, because we are impressed with the impact this has made so far and will continue to touch the lives of our loyal customers positively”. Sotiloye noted.

The criteria for qualifying for the draw is to save at least N30,000 in your UBA savings account or in instalments of N10,000 each for a period of three months. Those yet to be UBA customers can open a savings account on any of our numerous bank channels including Magic Banking (*919*20#) and LEO, or in any of the UBA branches across the country, and start saving.

United Bank for Africa Plc is a leading pan-African financial services group, operating in 20 African countries, as well as the United Kingdom, the United States of America and with presence in France.

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FBN Holdings Carrts Away World Finance Best Corporate Governance in Nigeria Award

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By Segun Lawal
FBN Holdings Plc has won the 2019 Best Corporate Governance in Nigeria Award organized by World Finance; the leading financial services group announced today.
The award ceremony was held recently in London Stock Exchange studio by World Finance, renowned for its comprehensive coverage and analysis of the financial industry, international business and global economy.
The annual event is usually organised against a backdrop of a comprehensive analysis of the very best across various areas of business endeavours in each market around the world.

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UK Eke, Group Managing Director, FBN Holdings Plc receiving the Best Corporate Governance in Nigeria award on behalf of FBNHoldings from Paul Richardson, Producer, World Finance at the World Finance Awards 2019 held in London Stock Exchange Studio, London recently.

Elated to receive the award on behalf of FBNHoldings, UK Eke, Group Managing Director of the finance house said; “receiving this award from World Finance basically tells us two things. One: it’s an affirmation of what we are doing in corporate governance, beyond the giant strides we’re making in financial performance. So we see this as an endorsement of the brand, and it’s a bragging right for us. Because again, there are very few institutions in Nigeria that have benefited from this award. We are truly proud to receive this award.”

Since 2007, World Finance has been celebrating corporate achievement, innovation and brilliance in their annual awards.

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Tony Elumelu Foundation Hosts European Commission, Leading Development Finance Institutions and Think Tanks in Brussels

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At a time when Europe’s relationship with Africa is high on foreign policy and developmental agendas and with the European Union beginning to deliver on its 2017 External Investment Plan, targeted at attracting investment and job creation in Africa, the Tony Elumelu Foundation brought together leading stakeholders in the development finance sector, at a case study session in the EU capital, Belgium. The convening demonstrated that Africa also had solutions to bring to the table and platformed the Foundation’s unique approach to catalysing entrepreneurship in scale across the continent.

Themed “A Convening on Africa’s Economic Transformation: A Case Study of the Tony Elumelu Foundation”, the event presented the results of the first five years of the Foundation’s Entrepreneurship Programme a unique programme, which has trained, mentored and seeded 4,470 African entrepreneurs with 3,050 newly announced to receive seed funding, and drawn over 200,000 applications to its 2019 cycle. Tony Elumelu’s $100m investment in entrepreneurial philanthropy was held up as an example of how vital capital could be targeted efficiently and effectively, at African businesses best able to create significant economic and developmental impact.

Opening the event, Mr. Koen Doens, Deputy Director General, DEVCO, EU, said: “Africa needs to create jobs by the millions to match the needs of its exponentially growing population. It will achieve this only if it unleashes a generation of empowered entrepreneurs. The Tony Elumelu Foundation contributes to this massively. The European Union wants to play its part and contribute to this endeavour.”

During an indepth question and answer session with EU-Africa relations expert, Annie Mutamba, Founder, Mr. Tony O. Elumelu CON, highlighted the growing interest in the Tony Elumelu Foundation and its unique approach, while welcoming a new type of intervention in Africa. “We very much believe in collaboration, mutual respect and a shared commitment to transform Africa. Africa is ready but we need to do this through the right sustainable manner, that enables our people to become self-reliant, and independent, instead of perpetuating dependency. We need to implement practical solutions on ground through entrepreneurship, which empower people economically and addresses issues of extremism, migration, and insecurity.”

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L-R: Carl Michiels, Director, European Centre for Development Policy Management (ECDPM); Former Prime Minister of Benin, HE Lionel Zinsou; Bruno Wenn, Former CEO/Chairman at DEG-German Investment and Development Company, and Advisory Board Member, Tony Elumelu Foundation; Minister Phillippe De Backer, Minister for Digital Agenda, Telecommunications and Post; and Ifeyinwa Ugochukwu, CEO of the Tony Elumelu Foundation.

Minister Phillippe De Backer, Minister for Digital Agenda, Telecommunications and Post, Belgium, also commented: “There is an increasing desire in Europe to engage Africa, including its grassroots in a structure and targeted approach with the right processes. The Tony Elumelu Foundation offers this platform.”

The Tony Elumelu Foundation, which last month in March announced 3,050 selected entrepreneurs for its 2019 cycle, continues to grow in scale, ambition and impact, and now actively leverages technology to support entrepreneurs through TEF Connect – a digital hub designed to link entrepreneurs across Africa, and which already has 500,000 users.

On the Foundation’s future plans, he stated: “We want to make sure that we impact more, reach more, touch more lives and get more women involved. We want to see more Northern Africa participation. We would like to reach 10,000 a year, with support from partners to empower additional entrepreneurs. We want to eradicate poverty and create wealth in a sustainable way. Ultimately, \we want a larger and broader entrepreneurship ecosystem, that supports young Africans, and we want to deepen our engagement with government to create the enabling environment to support these Africans to succeed – the right investment climate, training, education, access to capital and most importantly creating the right investment culture.”

Other dignitaries at the event included: Carl Michiels, Director, European Centre for Development Policy Management (ECDPM); Bruno Wenn, Former CEO/Chairman at DEG-German Investment and Development Company, and Advisory Board Member, Tony Elumelu Foundation; Mr Viwanou Gnanssougou, Assistant Secretary General, African, Caribbean and Pacific (ACP) at the European Council of the European Union, and Ifeyinwa Ugochukwu, CEO of the Tony Elumelu Foundation.

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