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2 weeks ago
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- Chairman of the United Bank for Africa Group, Tony Elumelu has urged overseas partners to halt giving assistance to Africa
- Elumelu explained that specified gestures volition not assistance the continent turn to its afloat potential, and listed what Africa genuinely needs
- The Tony Elumelu Foundation is acceptable to denote those who volition beryllium receiving the $5,000 assistance and joining the 2025 cohort
Legit.ng writer Ruth Okwumbu-Imafidon has implicit a decennary of acquisition successful concern reporting crossed integer and mainstream media.
Nigerian billionaire, Tony Elumelu has urged investors and overseas partners to pat into the projected $450 cardinal Gross Domestic Product boost from the African Continental Free Trade Area by 2035.
Elumelu noted that alternatively of offering assistance to antithetic countries successful Africa, they could alternatively put successful the Gross Domestic Product (GDP) growth.
The UBA Group Chairman noted that Africa has a batch of imaginable that is often ignored, particularly with the mostly youthful population, abundance of earthy resources, and integer expansion.
Source: UGC
Elumelu urged them to displacement from offering assistance and clasp concern opportunities truthful that they can beryllium a portion of Africa’s maturation story.
Conveying his thoughts successful an sentiment portion for the World Governments Summit. Elumelu wrote;
“Africa is not a foundation case. It is the adjacent frontier for planetary economical growth. The AfCFTA is creating a azygous marketplace of 1.3 cardinal people, and this integration volition adhd $450bn to our GDP. Investors should not miss this opportunity.”Elumelu calls for concern successful Digital Economy
Elumelu, who is besides president of Heirs Holding noted that Africa’s integer system is rapidly increasing and a batch of pointers amusement that this maturation volition continue, the PUNCH reports.
He said;
“The accepted donor-recipient exemplary indispensable germinate into 1 of shared goals and collaboration. The satellite indispensable spot Africa arsenic a partner, not a occupation to solve.”He highlighted that tech startups connected the continent raised a grounds $5 cardinal successful 2022, and called for investments successful broadband infrastructure, power, and entree to finance.
With specified things successful place, Elumelu noted that much tiny and medium-sized enterprises volition turn and thrive to make much employment.
Source: Getty Images
He explained however the Tony Elumelu Foundation was contributing its quota by backing astir 10,000 entrepreneurs crossed 54 countries successful Africa, helping make implicit 800,000 jobs, and gathering a integer ecosystem of implicit 1 cardinal young Africans.
The 11th cohort of the TEF entrepreneurship programme is astir to beryllium unveiled, with much young Africans benefiting from $5,000 grants.
Recall that the Billionaire precocious disclosed that his reason for diversifying into lipid and gas, and vigor sectors was to lend to solving the powerfulness occupation successful the continent.
Tony Elumelu gives assistance to Nigerian inventor
In related news, a talented Nigerian inventor precocious received a $5,000 assistance from the Tony Elumelu Foundation.
The young man, Oyekunle Michael, invented a generator that is said to tally without fuel, and this caught the attraction of the billionaire.
In a chat with Legit.ng, the young antheral said it took him 15 failed attempts and 13 years to physique the generator.
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Source: Legit.ng
