January 29, 2016 – The Tony Elumelu Foundation, United Bank for Africa Plc and the United States Department of Commerce are working together to empower entrepreneurs in Africa.
The group is hosting a panel and roundtable discussion between members of the U.S. Presidential Council on Doing Business in Africa (PCDBIA)and a diverse community of African entrepreneurs.
The 11 person U.S. delegation, along with representatives of several U.S. government trade and investment-focused agencies, was led by the Honourable Penny Pritzker – U.S. Secretary of Commerce visited Lagos as part of a fact-finding mission on how to strengthen commercial engagement between the U.S. and Africa for mutually-beneficial growth.
Titled “Unleashing Africa’s Entrepreneurs: Strengthening the Entrepreneurial Ecosystem to Empower the Next Generation of Africa’s Business Leaders”, the roundtable brought together American business leaders and Nigerian entrepreneurs to discuss challenges, solutions and innovations in the current African business environment.
The event was designed to allow representatives of the U.S. Government to participate in direct and substantive discussions with Africa’s emerging business leaders.
“President Obama believes, as I do, that the American private sector, working in partnership with the African business community, and African entrepreneurs can help address many of the continent’s most pressing challenges, including creating jobs and opportunity for young people across the continent. I am proud to lead our administration’s effort to support and empower aspiring entrepreneurs, both in the United States and across the globe’’, said U.S. Secretary of Commerce Penny Pritzker.
UBA Chairman Tony O. Elumelu, who hosted the delegation through his foundation, expressed gratitude for the collaborative approach that the Council and U.S. Commerce Department are taking in engaging local entrepreneurs as part of their deliberations.
“Too often, well-meaning foreign policy-makers develop strategies to help Africans without actually engaging us. In order to effectively help or support people, we should ask them what kind of help they want. So, I thank you for doing that with African businesses,” he said.
The roundtable is designed to address the needs of and provide opportunities for the next generation of African he entrepreneurs.
Entrepreneurs in attendance included SMEs supported by UBA Plc, UNCTAD’s EMPRETEC Nigeria Foundation and those selected for the Tony Elumelu Entrepreneurship Programme (TEEP) – a 10-year, $100 million commitment by the Tony Elumelu Foundation to empower the next generation of Africa’s entrepreneurs with businesses that have the potential to generate income and jobs for their nations.
The Tony Elumelu Entrepreneurs in attendance were selected from the Agriculture, Media & Entertainment, ICT, Transport, Healthcare and Financial Services sectors.
Their startups reflect the potential that entrepreneurship holds for spurring Africa’s transformation; already, they have begun creating jobs in their local communities and generating tax revenues for governments earning them recognition in both local and international media.
