TEF-funded Entrepreneurs Generate $2.3 billion in Revenue.

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African entrepreneurs that have received training and assistance from the Tony Elumelu Foundation have earned $2.3 billion. This information was made public in a pamphlet created to celebrate Mr. Tony Elumelu, the founder of TEF, turning 60

According to a statistic in the brochure, the foundation, which has an African-wide perspective, has taught and helped nearly 1.5 million entrepreneurs thus far.

To far, the foundation has distributed more than $100 million in seed financing to over 18,000 entrepreneurs across the African continent, and around 25% of the recipients have been able to get additional investments for their enterprises.

Around 400,000 direct and indirect employment have been created as a result of all of these investments, with 58% of those positions being in the service sector.

Punch

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