Kenya’s President Uhuru Kenyatta has commended the Tony Elumelu Foundation, an African founded and funded philanthropic organization for empowering young entrepreneurs in the continent.
The President said the Tony Elumelu Foundation was doing a good job supporting growth and welcomed the selection of 74 entrepreneurs from Kenya as this year’s members of the 4th cohort of the foundation’s entrepreneurship programme.
“It is a great thing to see Africans coming out forcibly to build to Africa through initiatives such as this. Our continent is endowed with massive resources, we do not have to always rely on support from elsewhere,” the President said.
He said this while speaking at State House, Nairobi, when he met Mr Tony Elumelu, the chairman of the United Bank for Africa (UBA) who is also the founder of the foundation that endeavors to empower African budding entrepreneurs.
Mr Elumelu said his organization represents $100 million commitment to identify, fund, train and ultimately empower 10,000 African entrepreneurs.
“Our objective is to create over one million jobs and add $10 million in revenues to Africa’s economy over our decade of entrepreneurship which started in 2015,” Mr Elumelu said.
The 74 entrepreneurs from Kenya are part of a group of 1,000 entrepreneurs selected from 150,000 applications from the 54 African countries.
Mr Elumelu expressed optimism that the 74 Kenyan entrepreneurs selected by his foundation will champion entrepreneurial development in Kenya and lend their support to local initiatives that will drive inclusive growth and development.