A prosperous African continent is feasible, but this will be achieved through strategic investments and capital, not foreign aid. Notable African businessman, philanthropist and leader asserted this at the media roundtable to mark the third edition of the Tony Elumelu Entrepreneurship Programme for Africa in Lagos.
Mr Elumelu stressed that there was a correlation between the growth of entrepreneurship and the alleviation of poverty, in any economy of the world. He noted that Africa’s growth had come to a critical point it had to move, to the level of real-time empowerment of the citizens.
Elumelu decried the fact that one of challenges for businesses in the continent, was the lack of an enabling environment which has affected the competitiveness of the region.
The Heirs Holding Chairman said Africa had to attract capital, which is essential for Looking at the African environment, the business icon called on the governments in the continent to focus on improving the ease of doing business, which will attract capital.
According to him “African leaders must focus on creating an enabling business environment for the growth of the Small and Medium enterprises, that are key drivers of economic transformation in any nation”.
He believed investments in the young dynamic population in Africa, was crucial to driving the development of African economies.
The business leader tasked the media, to create more awareness on the need for the growth of SMEs in the continent.
He reiterated the fact that Africa needs real-time accelerated development, which can be attained through private sector-led investments in the economy.
The TEEP 2017 is the third batch of the annual programme, and is being described as one of the largest entrepreneurship programme in Africa. It is focused on empowering 10,000 people in the next 10 years(2015-2025).
TEEP is guided by the philosophy of Inclusive economic philosophy of Africapitalism, based on the belief that a vibrant African-led private sector is the key to unlocking Africa’s economic and social potential.
It is also committed to driving African economic growth through the fostering of African entrepreneurship and institutionalise and create an environment where home-grown pan-African companies in various sectors can flourish.
This year’s edition will have as special guest of honour, the President of Guinea Mr Alpha Conde alongside Nigeria’s Vice-President Prof Yemi Osinbajo (SAN), Members of the Nigerian Federal Executive Council, State Governors and other notable business leaders.
