Tony Elumelu will finance 10,000 business projects in Africa

Tony ElumeluThings are becoming clearer and achievable with respect to the announcement made on the 1st December 2014 by the Nigerian billionaire Tony Elumelu, who has promised to give $ 100 million through his Foundation “Tony Elumelu Foundation” for the creation of 10 thousand businesses across Africa over the next 10 years.

By launching this ambitious project “Entrepreneurship Program,” the wealthy businessman aims to train a new generation of African entrepreneurs, who have the opportunity to submit their business plans for pre-selection.

The Foundation has launched for this purpose, the phase of applications submission which is open from 1st January 2015 to 1st March 2015.

They are entirely online through the foundation’s website in three languages: English, French and Portuguese, “said the website” Africa ITNEWS “.

One thousand selected companies will benefit from online training for 12 weeks. Subsequently a great forum called “Elumelu Entrepreneurship Forum” will be organized between July and August 2015.

Remember that the training, the funding and the mentoring on the menu of this program are extended to several years.

Note that the startups need to complete their business plans by the end of 2015 and those who have finished the programme successfully will benefit from two rounds of financing: an initial investment of $ 5,000 as capital and then a second round of the same amount if sufficient progress in the achievement of the business plans is made.

About Khalid Al Mouahidi 4431 Articles
Khalid Al Mouahidi : A binational from the US and Morocco, Khalid El Mouahidi has worked for several american companies in the Maghreb Region and is currently based in Casablanca, where he is doing consulting jobs for major international companies . Khalid writes analytical pieces about economic ties between the Maghreb and the Mena Region, where he has an extensive network