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United Bank for Africa (UBA) Zambia has urged local entrepreneurs to apply for the Tony Elumelu Foundation (TEF) Entrepreneurship Programme which provides US$5, 000 non-refundable seed capital.

About 94 Zambian entrepreneurs benefited from the TEF entrepreneurship programme in 2021.

This programme provides a huge opportunity to access funds for various enterprises, according to UBA Zambia Managing Director Chinedu Obeta.

Mr Obeta said the selected entrepreneurs would receive US$5, 000 non-refundable seed capital, world-class business management training, mentorship, and access to key networks and markets.

“The Tony Elumelu Foundation Entrepreneurship Program democratises business finance and injects an adrenaline shot to boost start-up businesses in Africa through an extensive training programme for the winners.”

“This equips individuals with the capacity to recognize commercial opportunities while also developing self-esteem, knowledge, and skills to enable long-term growth,” Mr Obeta said in a statement.

The Tony Elumelu Foundation has trained, mentored, and funded over 15,847 young African entrepreneurs across all 54 African countries.

This has been done through its Entrepreneurship Programmes, and provides capacity-building support, advisory and market linkages to over one million Africans through its digital networking platform.

In 2015, the Foundation launched the TEF Entrepreneurship Programme, a $100 million commitment by Tony Elumelu to empower 10,000 African entrepreneurs over 10 years.

Its objective is to empower women and men across the continent, catalysing economic growth, driving poverty eradication and ensuring job creation.

The programme believes that the private sector’s role is critical for Africa’s development and that the private sector must create both social and economic wealth.


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