Some 38 entrepreneurs were part of the 2018 cohort, taking the number of Cameroonians having benefited from the programme in the last four years to 101.
Cameroonian entrepreneurs put up a strong participation in the 4th edition of the annual Tony Elumelu Foundation (TEF) Entrepreneurship Programme, which wrapped up with a mega forum in Lagos – Nigeria, October 25, 2018. The 38 selected Cameroonian entrepreneurs are engaged in fintech, farming, agribusiness, commerce and retail, healthcare, education and training, waste management, professional services, ICT, manufacturing, logistics, media and entertainment, amongst others, at small and medium scales. Most of them have already put up sterling performances as they seek to grow their businesses.
According to TEF officials, on the average, each entrepreneur has created about 20 direct jobs and 60 indirect jobs. Tony O. Elumelu, Founder of TEF said “our Foundation and its unique approach of training, mentoring and funding has proven that entrepreneurship is the key to unlocking economic transformation of our continent. I believe so strongly that success can be democratized and if we can match ambition to opportunities, this extraordinary generation can achieve anything.” Now in its fourth year, the flagship programme of TEF has so far benefited 101 Cameroonian entrepreneurs.
Cameroon had 19 in 2015, 23 in 2016, 21 in 2017 and 38 this year. They have been empowered by the program which seeks to incubate a new breed of entrepreneurs who can themselves become catalyst for further entrepreneurial-led growth. It should be noted that the TEF entrepreneurship programme is cyclical. Applications open on January 1 annually and the foundation selects 1,000 top applications and announce the finalists in March. The selected entrepreneurs are then provided with a holistic programme of support, dubbed the seven pillars which enables them to launch and grow sustainable, profitable and transformative businesses, and achieve TEF’s goal of 10,000 successful entrepreneurs, one million jobs and $10billion in revenue in Africa.