The Tony Elumelu Foundation has empowered over 8,000 women entrepreneurs in 54 African countries in just 10 years, representing 46% of the total number of entrepreneurs supported by the foundation. Dr. Awele Elumelu, co-founder of the foundation, highlighted this achievement during her keynote address at the 2024 Women Directors Conference of the Chartered Institute of Directors of Nigeria.
The foundation’s commitment to empowering young African entrepreneurs, both men and women, is evident in its efforts to identify, train, mentor, and provide financial support to promising businesses. Despite initial challenges in attracting female applicants, the foundation has made significant strides in ensuring gender equality in its programs.
Dr. Elumelu noted that female beneficiaries of the foundation have reported slightly higher profits than male beneficiaries on average, demonstrating the positive impact of empowering women entrepreneurs.
The conference emphasized the importance of women’s leadership in navigating the complexities of the disruptive age and seizing emerging opportunities. The Chartered Institute of Directors of Nigeria recognized the critical role of women directors in shaping innovation, diversity, equity, and inclusion (DEI), and environmental, social, and governance (ESG) practices.
The foundation’s efforts align with the growing recognition of the economic potential of women entrepreneurs and the need to create a more inclusive business environment in Africa. By empowering women, the Tony Elumelu Foundation is contributing to the development and growth of the continent’s economy.
