Harvard Business School to explore Tony Elumelu Foundation’s approaches, initiatives

The Harvard Business School plans to explore the Tony Elumelu Foundation’s approaches and initiatives to showcase how strategic philanthropy can drive positive change and elevate countries and communities.

The event, according to the Foundation, will also delve into its innovative approaches and the resultant impact it has garnered over the years.

“The event will also feature an exclusive acknowledgment of the Founder of TEF, Tony Elumelu’s economic philosophy of Africapitalism, which positions the private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the African continent,” TEF’s statement reads in part.

TEF stated that the move by Harvard Business School underscores the foundation’s pivotal role in empowering young African entrepreneurs across 54 African countries.

It added that the move also places the Foundation at the forefront of global discussions “on transformative and catalytic philanthropy, acknowledging its significant contributions towards fostering entrepreneurship in Africa.”

Speaking on the impact of TEF on the African youth Mr Elumelu said the foundation is giving hope to young people through seed capital it provides for young entrepreneurs.

“TEF is creating economic hope and opportunity for African Entrepreneurs. We know that entrepreneurship is the antidote to poverty, youth unemployment, and insecurity…Collectively we are fixing the challenges that we have on the continent,” he said.

He added that the foundation was created to raise more successful African business leaders.

“We want to replicate our own success and create entrepreneurs who will build more prosperity on the continent and for the continent. It’s all about transforming our society and making sure that we leave society better than we met it. It is not about the money that we have in our bank accounts, it is about the legacy that we make and the impact we create. Prosperity for all is what will create the security, harmony and peace that we need,” he said.

bout TEF

The Tony Elumelu Foundation is a non-profit organisation named after its founder and Chairperson of the United Bank for Africa (UBA), Mr Elumelu.

Founded in 2010, the Foundation said it is established to empower a new generation of African entrepreneurs through job creation, poverty eradication, and women’s economic empowerment across all 54 African countries.

Since the launch of the TEF Entrepreneurship Programme in 2015, the Foundation said it has trained over 1.5 million young Africans on its digital hub, TEFConnect, and disbursed over $100 million in direct funding to 20,000 young Africans, who it noted, have collectively created over 400,000 direct and indirect jobs.