Nigeria: TEF Partners EU to Empower Women From 54 Countries

The Tony Elumelu Foundation, TEF, has announced a partnership with the European Union, EU, to identify, train, mentor and fund 2,500 young African women entrepreneurs in 2021.

A statement by the foundation says the partnership will disburse 20 million in financial and technical support for women-owned businesses across all the 54 African countries while providing increased access to market linkages, supply chains and venture capital investments.

According to the statement, the engagement will strengthen and deepen the EU-Africa partnership, build on the platform and experience of the US$100 million TEF Entrepreneurship Programme, and forms part of the EU External Investment Plan to support women economic empowerment within the EU Gender Action Plan (GAP III).

It noted that the partnership will also unlock the dynamic potential of African women entrepreneurs, directly catalysing African’s economic growth and contributing to Africa’s prosperity and social development.

Commenting on the partnership, Founder of TEF, Mr Tony Elumelu, said: “We are delighted to partner with the European Union, sharing our unique ability to identify, train, mentor and fund young entrepreneurs across Africa. 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. 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.”