Heirs Holdings and the Tony Elumelu Foundation have taken a significant step towards empowering young African entrepreneurs by providing $5,000 in seed capital to each of them. This initiative is part of their broader mission to drive economic growth and development across the continent.
Tony Elumelu, the Chairman of Heirs Holdings and Founder of the Tony Elumelu Foundation, shared this news during a fireside chat at the Future Investment Initiative New Africa Summit in Saudi Arabia. He emphasized the importance of entrepreneurship in addressing pressing issues like unemployment and infrastructure deficits in Africa.
“To date, we have empowered 20,000 young men and women who have gone on to create 400,000 direct and indirect jobs — this is our way of changing Africa,” Elumelu stated.
The billionaire businessman highlighted the significance of Africapitalism, a philosophy that promotes private sector-led economic development. He emphasized the need for governments to create an enabling environment for businesses to thrive, including improved access to electricity, tax reforms, and supportive policies.
By providing financial support, mentorship, and training, Heirs Holdings and the Tony Elumelu Foundation are empowering young African entrepreneurs to turn their ideas into reality. This initiative aligns with the broader goal of fostering innovation, job creation, and economic prosperity across the continent.
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