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22 Cameroonians win 2017 Tony Elumelu Foundation grant

22 Cameroonians are among the list of 1000 Africans  selected by the Tony Elumelu Foundation for the 3rd cohort of its…

22 Cameroonians are among the list of 1000 Africans  selected by the Tony Elumelu Foundation for the 3rd cohort of its 10-year, $100 million (circa 60 billion FCFA ) TEF Entrepreneurship Programme

The list of entrepreneurs to benefit from project financing and mentorship was released last night. It contains the names of successful candidates from 55 countries and territories.

Cameroonians whose names feature on the list include, Alphonsius Ategha, Maduka Ibe, who were selected in the domain of agriculture (Agri-business, Farming); Bill Nanji Mosah, Ferdinand Ebot Besong, Lum-Neh Angela selected in the education and training domain, Charlene Nana Wantong, Josue Arcance Enganemoul, Nghombombong Epaphrate Minuifuong for the commercial/retail sector,  and Clement Bantar Nyong, for professional services.

A host of other Cameroonians who submitted projects in the ICT sector were also selected for the grant. These include Emmanuel Nguimbus, Emmanuel Boris Tsemo Melong, Jean Philippe Veigne, and Tibah Lum Eliane. As for media and Entertainment, Guy Barthelemy Tchakam, Jerome Soffo Simo, were selected from Cameroon, while Jingwa Kakdeu Lesly Grace, Mongou Lele William, Leon Roland Elongue Akame, were picked for the improvement of Cameroon’s healthcare sector.

Mbuih Zukane Retruyap, was selected for his project in waste management; while Rosette Forkom Fien Fomunung, and Vaumi Vaumi Ezechiel Joachim,  were selected for training, mentorship and financing of their projects in manufacturing and logistics respectfully.

The selection of 22 Cameroonians for the 3rd cohort, brings to 66, the number of Cameroonians who have benefited from this program, launched three years ago. 19 of them were selected in 2015 while 25 were among last year’s beneficiaries.

Going by a release from the foundation, over the next nine months, these Cameroonians  and other 2017 Tony Elumelu Entrepreneurs will be trained and mentored, and will use the skills acquired to develop a business plan. Following which, they will be eligible to receive up to $10,000 in seed capital.

As obtained in the past two years, agriculture leads the sectors with (29%) of applicants coming from this sector, followed by ICT (11%) and manufacturing (9%)reflecting the industries of interest for African startups. Nigeria, Kenya, Ghana, Uganda and Cameroon produced the most applicants.

Founder, Tony O. Elumelu, CON, according to the press statement, said “Standing here today to announce the successful applicants is bittersweet; we have 92,000 budding business leaders who weren’t selected for our Programme and these young African men and women have demonstrated a lot of energy innovation and creativity in their applications. We should not relent until we help them ALL realize their aspirations.”

The Foundation’s long-term investment in empowering African entrepreneurs is emblematic of Mr. Elumelu’s philosophy of Africapitalism, which positions Africa’s private sector – and most importantly entrepreneurs – as the catalysts for the economic and social development of the continent.

CEO, Parminder Vir OBE, said: “The achievements of each successive cohort is clear evidence of the growing transformative power of our Programme. We recently sampled 600 of our existing 2,000 entrepreneurs to analyse the Programme’s impact and have been impressed by the robustness and particularly impact on employment we are beginning to have. We have also partnered with organisations, including Microsoft, GE, ECOWAS, to provide further benefits to our entrepreneurs.”

Over 93,000 entrepreneurs, from 55 countries and territories in Africa, applied – more than twice 2016 applications and nearly four times 2015.

The Programme culminates in the TEF Entrepreneurship Forum – the largest annual gathering of African entrepreneurs and the full entrepreneurship ecosystem from across the continent, which brings together entrepreneurs, mentors and business and political leaders in October, for a two day event in Lagos, Nigeria.












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