Nigerian billionaire Tony Elumelu commits $100 million to help African entrepreneurs

Nigerian billionaire investor and philanthropist Tony Elumelu, early this month committed US$100 million to create 10,000 entrepreneurs across Africa over the next 10 years.

Elumelu made the commitment during the launch of The Tony Elumelu Foundation Entrepreneurship Programme (TEEP).

TEEP, a Pan-African entrepreneurship initiative of the Tony Elumelu Foundation, is a multi-year programme of training, funding, and mentoring, designed to empower the next generation of African entrepreneurs.

The programme will identify and help grow 10,000 start-ups and young businesses from across Africa over the next 10 years. These businesses will in turn create 1,000,000 new jobs and contribute $10 billion in annual revenues to Africa’s economy.

Read more: Forbes