A group of 27 Ugandan entrepreneurs has been selected to receive a non-refundable grant of $5,000 from the Tony Elumelu Foundation. These individuals are part of the 10th cohort of beneficiaries, comprising 1,104 entrepreneurs from 54 African countries. Alongside the grant, they will also receive mentorship and training throughout the year to enhance their business ventures.
Speaking at the announcement event on Friday, Tony Elumelu, the founder and chairman of TEF, emphasized the foundation’s commitment to empowering African entrepreneurs and driving economic development across the continent. Over the past decade, the programme has played a significant role in poverty eradication and job creation in all 54 African countries.
Elumelu highlighted the foundation’s mission to democratize opportunity and prosperity, emphasizing the importance of supporting young entrepreneurs to start and grow their businesses. Since its inception, the foundation has provided over $100 million in support to more than 20,000 young entrepreneurs across Africa, forging partnerships with global institutions to further its impact.
Hoziana Niyonsaba, Head of Marketing and Corporate Communications at United Bank for Africa, Uganda, shared insights into the foundation’s impact in Uganda. Since 2015, nearly 1,000 Ugandan entrepreneurs have benefited from the Tony Elumelu Foundation, receiving a cumulative total of $100 million. Niyonsaba reiterated UBA’s commitment to supporting these entrepreneurs and ensuring their success.
Previous beneficiaries, such as Faith Kwera, founder and CEO of Quera Tickets, attested to the transformative impact of the foundation’s support. Kwera highlighted the invaluable mentorship and business management training she received, which has contributed to the growth of her company and increased sales.
The success stories of these entrepreneurs serve as a testament to the foundation’s mission of empowering African entrepreneurs and driving sustainable economic growth across the continent.
