African Leaders Should Setup Youth’s Investment Banks, Says Adesina


President of the African Development Bank (AfDB), Akinwumi Adesina, has called on African Leaders and Governments to shift from youth’s empowerment to investments.

He made the call at the two-day Tony Elumelu Foundation Forum which held in Abuja.

Mr Adesina added that a special bank which focuses on young people’s asset should be established.

“It is time for African leaders and the Government to shift from youth empowerment to youth investments.

“And in trying to do that, I propose that it is time that we begin to set up Youths entrepreneurship and investments banks, banks where you walk into and they see assets and not liabilities.”

READ ALSO: 2019 Tony Elumelu Entrepreneurship Forum

He added that one key driver to encourage youth’s in business and economic growth, lending should be derisked.

“Where you walk into and they have faith and confidence in young people; who can actually help you to grow your business.

“What does this mean; we have to de-risk lending to businesses of young people.”

2019 Tony Elumelu Entrepreneurship Forum

PHOTOS: Sodiq Adelakun/Channels TV


The Tony Elumelu Foundation on Friday held its fifth Entrepreneurship Forum at the Transcorp Hotel in Abuja.

The two-day event is themed ‘Empowering African Entrepreneurs,’ and will host “the largest gathering of entrepreneurs, policymakers, and business leaders.”

Some of the speakers expected at the forum include Vice President Yemi Osinbajo, Aisha Buhari, Nigeria’s First Lady; Tony Elumelu, the founder of the Tony Elumelu Foundation; Tedros Ghebreyesus, Director-General, World Health Organisation; and Akinwunmi Adesina, President, African Development Bank.

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Aisha Buhari Says Private Sector Must Play More Active Roles In Enhancing Africa’s Development

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Wife of President Muhammadu Buhari, Aisha, says the private sector must begin to play more active roles for the advancement of the African continent.

According to her, now more than ever, the contribution of the Private sector is needed to advance the economy of the continent.

She said this on Friday while delivering a keynote address during the unveiling of the 2019 entrepreneurship finalists of the Tony Elumelu Foundation.

Mrs Buhari believes that the programme will go a long way in fostering entrepreneurial development across Africa and in turn boosting the economy.

“Now more than ever, amidst slow recovery of the world economy, the contribution of entrepreneurship through small and medium scale enterprises cannot be over-emphasized.

Read Also: Tony Elemelu Foundation Unveils 2019 Entrepreneurs

“The Tony Elumelu foundation entrepreneurship programme will certainly foster entrepreneurial development across Africa, providing the much-needed funds, training and mentorship of commercial enterprises that promote social and economic change, support growing African businesses through dynamic programmes that provide capital and human resources to budding entrepreneurs,” she said.

Speaking on some of the key visions of the office of the Wife of the Presidient, Mrs Buhari maintained that it will continue to make efforts to reduce the rate of maternal and newborn mortality.

“On our path, we are active stakeholders in this sector and in recognition of this, the strategy vision behind the engagement of the office of the Wife of the President is to contribute to the acceleration of efforts to end preventable maternal, newborn and child deaths through advocacy and the strengthening of accountability mechanism in order to enhance the peace and development of Nigeria”.

Tony Elumelu Foundation Launches Digital Platform For African Entrepreneurs

The Tony Elumelu Foundation has launched a digital platform to connect entrepreneurs in Africa and beyond.

Launched in Lagos on Thursday at the Tony Elumelu Foundation Entrepreneurship Forum 2018, TEFConnect is designed to connect entrepreneurs – mentors, investors, accelerators and incubators – all over the world, enabling them to learn, network, leverage business tools and more.

Ghanaian President Nana Akufo-Addo and Kebbi State Governor Abubakar Atiku Bagudu were among those who joined TEF Founder Tony Elumelu, for the launch of the platform.

“Our objective is to connect entrepreneurs to three key things needed for success – money, market and business tools,” TEF said in a post on its website.

“The digital hub will convene the full entrepreneurial ecosystem across Africa and beyond including entrepreneurs, investors and the business community on one platform.

Tony Elumelu Foundation Entrepreneurship Forum 2018

The Tony Elumelu Foundation Entrepreneurship forum 2018 is currently taking place with the President of Ghana, Nana Akufo-Addo, and his Kenyan counterpart, Uhuru Kenyata, among those participating.

The forum which attracts young entrepreneurs from across the globe also has the founder of the foundation, Tony Elumelu, in attendance.

Osinbajo Expresses Hope In Africa’s Socio-Economic, Political Development

Yemi-OsinbajoNigeria’s Vice President, Professor Yemi Osinbajo, says he has high hopes in Africa’s socioeconomic and political development despite the many challenges facing the continent.

Professor Osinbajo spoke at a boot-camp organized by the Tony Elumelu Foundation on entrepreneurship which was held at the Covenant University, Ota, Ogun State, Southwest Nigeria.

The Vice President stressed the need for African leaders to provide the much needed political will through flexible and coherent policy framework that would transform the continent.

Professor Osinbajo also asked beneficiaries of the programme to always maintain a high degree of integrity, discipline and respect for the rule of law‎.

The first batch of beneficiaries drawn from across 51 African countries including Nigeria by the Tony Elumelu Foundation Entrepreneurship Programme, were 1000 young, determined and budding entrepreneurs.

The initiative aims at discovering and supporting 10,000 African entrepreneurs over the next decade with the mandate of creating one million jobs which would eventually remove the continent from the stereotype of a continent of famine, disease, unemployment and wars.

Also addressing the beneficiaries on what government at all levels must do to encourage budding entrepreneurs, the Kaduna State Governor, Nasir El-Rufai, challenged business and political leaders to be more responsible and responsive towards the development of the sociopolitical and economic needs of the continent.

The Tony Elumelu Entrepreneurship Programme launched last December. It is a $100million initiative aimed at discovering and supporting 10,000 indigenous entrepreneurs with a focus on agriculture, education, commerce, ICT and health-care.

The event was attended by the Prime Minister of Benin Republic, Lionel Zinsou, the Founder of the Elumelu Foundation, Mr Tony Elumelu, among other dignitaries.

N200 Million FG Donation To LASG Distinct From N1.9 billion Intervention Fund

Onyebuchi Chukwu on EbolaThe Minister of Health, Prof. Onyebuchi Chukwu, on Thursday said the N200 million donated to Lagos State by the Federal Executive Council (FEC) will not be withdrawn from the N1.9 billion Ebola Intervention Fund.

The Minister, in a statement signed by his Special Assistant on Media and Communication, Dan Nwomeh, said the “ The N200 million is a distinct and direct Federal Government support to Lagos State and does not preclude other assistance that may be rendered to the State through the Federal Ministry of Health”.

The Minister also listed corporate organizations that have made contributions to the Federal Government’s control measures against Ebola Virus Disease in Nigeria

These are:
*Aliko Dangote Foundation donated N152 million to sponsor the Ebola Emergency Operation Centre in Lagos.

*The ANAP Foundation founded by Mr. Atedo Peterside informed the Minister of Health that the foundation would be supporting affected private hospitals to the tune of N100,000 (one hundred thousand naira) per bed space. He also disclosed to the Minister that the First Consultant Hospital in Lagos where the index case was managed would be the first beneficiary and that the hospital would receive N4 million since its bed capacity is forty.

*The Tony Elumelu Foundation has pledged a donation of N50 million to support the Federal Government’s containment efforts.

*Shell Petroleum Limited donated an ambulance to the Ebola Emergency Operation Centre in Lagos.

The Federal Executive Council (FEC) on Wednesday approved the sum of 200 million Naira to support the Lagos State government in tackling the Ebola Virus Disease that has killed at least 1,200 persons since its outbreak in the West African region early this year, while President Goodluck Jonathan declared the control and containment of the Ebola virus in Nigeria, a National Emergency and set up an intervention plan with N1.9 billion approved for the control of the disease.