President Macron and Elumelu Advise African Entrepreneurs

Macron has advised young African entrepreneurs

President Macron and Elumelu Advise African Entrepreneurs

The French President, Emmanuel Macron has advised young African entrepreneurs not to allow the fear of failure to stop them from taking business risk.

According to him, “you can’t succeed without taking risk”.

Macron gave the advice when interacted with over 2,000 Tony Elumelu Foundation (TEF) alumni, together with other significant members of the African entrepreneurial ecosystem, in an open forum, held currently in Lagos, Nigeria.

The forum which was moderated by the TEF Founder, Heirs Holdings and UBA Chairman Mr. Tony O. Elumelu, afforded the visiting French President the opportunity to hear the voices and ambitions of a new generation of African businesswomen and men, who are changing the narrative and historic perceptions of Africa.

Mr Macron further advised the young entrepreneurs never to stop at a first failure but rather urged them to always learn from it.

Touching on private sector, he said: “The only way for Africa to succeed is to have a strong private sector” capable of creating jobs and opportunities for the teeming unemployed youth.

On his part, Mr Elumelu noted that entrepreneurship is the lifeblood of Africa’s economic transformation hence the decision of the TEF to set up a $100 million seed fund in 2015 to support young African entrepreneurs.

In 2015, the Foundation launched the Tony Elumelu Foundation Entrepreneurship Programme now known as TEF Entrepreneurship Programme which is the largest African philanthropic initiative devoted to entrepreneurship. This initiative carries the foundation’s 10-year, $100 million vision to identify and empower 10,000 African entrepreneurs.

The Chief Executive Officer of TEF, Madam Parminder Vir OBE announced that since the launch of the programme over 4,500 young African entrepreneurs had benefited from it.

She stated: “We are proud to have established a unique platform for African entrepreneurs to forge relationships and business partnerships. In doing so, we are creating an ecosystem that fosters innovation and collaboration, on a scale few believed possible.”

The Group Head, Marketing and Corporate Communications of UBA, Madam Bola Atta who was the MC of the well-attended open forum urged the young entrepreneurs to use the platform to network among themselves; and with the French business delegation accompanying the President.


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