5 Gambian entrepreneurs make 2018 TEF annual programme

Friday, March 23, 2018

Five Gambian entrepreneurs have been listed in the 1000 African entrepreneurs selected for the 2018 Tony Elumelu Foundation programme announced yesterday in Lagos, Nigeria.

The Foundation announced that Almameh Manneh- agribusiness, Bakau Dem- Energy/Power Generation, Bankey Oliver Charles N’jie- ICT, Bubacarr J.B. Touray- agribusiness and Chan Mendy- Fashion will participate in the African founded 21st century philanthropic organisation programme. The Foundation is committed to entrepreneurship development and applications were received from over 150, 000 entrepreneurs.

The 1000 selected entrepreneurs will be in Lagos later this year for the 2018 Tony Elumelu Foundation Entrepreneurship Forum.

The successful entrepreneurs will benefit from the TEF Entrepreneurship Programme’s 7 Pillars – a toolkit of support including business training, mentoring, access to networks and funding of up to $10,000 – as they develop their business concepts to contribute to the transformation of the continent.

The Forum – which is the largest gathering of African entrepreneurs, mentors, investors, media and policy makers on the continent – is the hallmark of the TEF Entrepreneurship Programme.

The TEF Entrepreneurship Forum is a unique physical gathering bringing the 1000 entrepreneurs, investors, business leaders and policy makers to share knowledge, build networks and showcase the entrepreneurial spirit in Africa.

Founder Tony O. Elumelu said, “The number and quality of applicants, 151,000 in total, was outstanding - it illustrates the strength and depth of entrepreneurial promise and commitment on our continent. Selection is never easy, and we profoundly regret that we cannot help all. Our partnerships with the Red Cross, UNDP and Indorama, alongside ongoing discussions with other international organizations, reflect the growing global recognition of what we have known all along - that entrepreneurship is the most effective path to sustainable development on our continent and our Programme is the model to follow.”

He said there was a near 50-50 split between male and female applications, reflecting the entrepreneurial ambition of Africa’s women, saying agriculture was the leading sector among selected entrepreneurs at 30.5%, followed by technology (10.5%) and education & training (7%).

The Foundation’s chief executive officer Parminder Vir OBE said, “Over the next nine months, the entrepreneurs will receive online training and mentoring, and will use the skills acquired to develop business plans prior to receiving $5,000* in seed capital. This will bring TEF’s total Programme investment so far to $15 million in direct funding to entrepreneurs and $5.8 million in Programme & technology development and operations.”

He said their beneficiaries have created more than 55,000 jobs and counting, and will convene from across all of Africa’s 54 countries to Lagos this October for the TEF Forum - the largest gathering of African entrepreneurs in the world.

Author: Alieu Ceesay