African governments should create enabling environments for enterprise to grow, as this is the only way to encourage startups to create jobs and spread wealth on the continent.
This is the take of Heirs Holdings Chairman, Tony Elumelu, who reiterated his resolve to empower African entrepreneurs that would drive the transformation of the continent.
He was speaking with journalists in Lagos on the expected arrival of 1,000 African entrepreneurs in Nigeria on July 10 for a two-day boot camp.
The founder of the Tony Elumelu Foundation (TEF) said: “I am confident that these entrepreneurs are Africa’s hope for the future.”
The 1,000 were selected from over 20,000 applicants from all over Africa for the maiden boot camp for the $100 million pan-African entrepreneurship initiative of the Tony Elumelu Entrepreneurship Programme (TEEP).
The camp, the largest gathering of emerging entrepreneurs on the continent, will facilitate interaction among established entrepreneurs in different sectors.
TEF has engaged the emerging entrepreneurs in a 12-week online training programme as part of the build up.
“I am empowering these emerging entrepreneurs, we are providing the capital, the networks, the training and support for them to drive economic and social transformation throughout Africa, providing solutions to its problems as well as securing their future and that of generations to come.
“We do indeed have a very difficult and harsh operating environment for entrepreneurs in Africa that makes it difficult for entrepreneurs to succeed,” said Elumelu, who is also United Bank for Africa (UBA) Chairman.
“That is why it is said that over 90 per cent of new businesses on the continent die. But we cannot stop aspiring entrepreneurs because the operating environment is difficult. It is a two-way traffic.
“Through the TEF, we try to create advocacy with governments to make sure that we have the right operating environment.”
Elumelu said his desire is to ensure inclusiveness and reduce the inequality gap on the continent.
“Africa is always used to the mentality of aids and people helping us. But increasingly, we are beginning to see people with large hearts help others succeed.”