The United Nations Development Programme (UNDP) and the Tony Elumelu Foundation (TEF) have launched a youth entrepreneurship programme for the Sahel region of Africa. The TEF-UNDP Sahel Youth Entrepreneurship programme will train, mentor and financially support 100,000 young entrepreneurs in Africa in 10 years. The goal is to contribute to the overall target to generate at least 10 million new jobs and $10 billion in new annual revenues across Africa.
This was revealed through the official website of Tony Elumelu foundation which reads “The TEF-UNDP Sahel Youth Entrepreneurship Programme is a partnership between the United Nations Development Programme (UNDP) and the Tony Elumelu Foundation (TEF) to empower 100,000 additional entrepreneurs over 10 years from seven Sahel African countries: Nigeria, Niger, Chad, Cameroun, Mauritania, Mali and Burkina Faso. The partnership will target young Africans in under-served communities. The goal is to create 10 million new jobs and contribute at least $10 billion to the African economy. The Programme leverages the tried and validated approach to philanthropy on the continent pioneered by the Tony Eluemlu Foundation. It prioritises and positions entrepreneurship as the key enabler to catalyse the economic development of the African continent.”
The program is a yearly program but received a boost through a partnership with the United Nations. The TEF Entrepreneurship Programme is the $100 million commitment by the Elumelu family to mentor, train, and financially support 10,000 African entrepreneurs in 10 years. The Programme is currently in the 5th year of its commitment and has so far empowered over 7,500 entrepreneurs across 54 African countries.
The program is targeted to reduce unemployment and poverty rate in the continent as said by Nigerian entrepreneurs and philanthropist, Tony Elumelu.