Nigerian Billionaire Tony Elumelu Commits $100 Million To Create 10,000 African Entrepreneurs In 10 Years

Tony Elumelu

Nigerian billionaire investor and philanthropist Tony Elumelu has committed $100 million to create 10,000 entrepreneurs across Africa over the next 10 years.

Elumelu made the commitment on Monday during a press conference in Lagos to announce the launch of The Tony Elumelu Foundation Entrepreneurship Programme (TEEP).

TEEP, a Pan-African entrepreneurship initiative of the Tony Elumelu Foundation, is a multi-year programme of training, funding, and mentoring, designed to empower the next generation of African entrepreneurs.

The programme will identify and help grow 10,000 start-ups and young businesses from across Africa over the next 10 years. These businesses will in turn create 1,000,000 new jobs and contribute $10 billion in annual revenues to Africa’s economy. The 10,000 start-ups selected from a pool of applicants across Africa will participate in a comprehensive programme which will include a customized 12-week business skills training course, mentoring, an entrepreneurship ‘boot camp’ and seed capital funding among other things. Interested entrepreneurs will be able to submit their applications to join the programme as from January 2015 through the Tony Elumelu Foundation’s website.

“The opportunity and challenge in Africa is scale – in our people, our resources and our horizons. In my business and philanthropic journeys, I have always sought ways to help inspire a generation across our continent. This programme brings together my own entrepreneurial experience and my fundamental belief that entrepreneurs – women and men across Africa – will lead Africa’s development and transform our futures,” Tony Elumelu, founder of The Tony Elumelu Foundation, said in a press statement.

The programme will be backed by a $100 million grant from the Tony Elumelu Foundation, an African-based, African-funded philanthropic organization that supports entrepreneurship in Africa by enhancing the competitiveness of the African private sector. The Foundation is solely funded by Tony Elumelu, a billionaire who has derived an estimated $1 billion fortune from banking, energy, investments and real estate according to FORBES’ recent ranking of Africa’s 50 Richest People.

“It is our opportunity to empower a generation,” said Elumelu.

More details about the program, including eligibility and the application and selection processes are available on the Tony Elumelu Foundation website at: www.tonyelumelufoundation.org/TEEP.

Souce: Forbes.com

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Virginia Tech’s Emmanuel A. Frimpong named a Carnegie African Diaspora Fellow

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Emmanuel Frimpong, associate professor of fisheries science in the College of Natural Resources and Environment at Virginia Tech, has been named a Carnegie African Diaspora Fellow.

The scholar program, which supports 100 short-term faculty fellowships for African-born academics, is offered by the Institute of International Education and funded by a two-year grant from Carnegie Corporation of New York.

Frimpong, who joined the faculty of the Department of Fish and Wildlife Conservation in 2007, focuses on the ecology, life history, and distribution of freshwater fish with an emphasis on applications in aquaculture and the conservation of fish and fisheries.

He collaborates with the U.S. Agency for International Development’s AquaFish Innovation Lab on research and development projects in Ghana, Kenya, and Tanzania. His research in the United States is funded by the National Science Foundation’s Division of Environmental Biology and the U.S. Geological Survey’s Aquatic Gap Analysis Program.

In outreach and service to his profession, Frimpong created a comprehensive database of more than 100 biological traits of 809 U.S. freshwater fish species and worked with University Libraries at Virginia Tech to make the database available online to scientists across the country.

The prestigious Carnegie African Diaspora Fellow program is limited to African-born individuals currently living in the United States or Canada and working in higher education. Fellows engage in educational projects proposed and hosted by faculty of higher education institutions in Ghana, Kenya, Nigeria, South Africa, Tanzania, and Uganda.

The fellowship is “validation of what I have worked very hard to accomplish — to be a significant contributor to research and development in Ghana and sub-Saharan Africa,” Frimpong said.

It will give him the opportunity to spend an extended period of time in his home country of Ghana, collaborating with Kwame Nkrumah University of Science and Technology to develop aquaculture, fisheries, and water resources management curricula and to conduct research on aquaculture development for food security and the conservation of fish and fisheries.

“With three months in Ghana, I hope to have more time to see problems up close and contribute my expertise substantively to the solutions,” he said. “Finding ways to solve immediate problems of humanity with the scientific knowledge and tools we have now motivates me. If the people of sub-Saharan Africa can be taught to manage their natural resources well, they will have the resources they need now and for future generations.”

Frimpong received a bachelor’s degree from the University of Science and Technology in Ghana, master’s degrees from the University of Arkansas at Pine Bluff and Virginia Tech, and a doctorate from Purdue University.

The College of Natural Resources and Environment at Virginia Tech, which consistently ranks among the top three programs of its kind in the nation, advances the science of sustainability. Programs prepare the future generation of leaders to address the complex natural resources issues facing the planet. World-class faculty lead transformational research that complements the student learning experience and impacts citizens and communities across the globe on sustainability issues, especially as they pertain to water, climate, fisheries, wildlife, forestry, sustainable biomaterials, ecosystems, and geography. Virginia Tech, the most comprehensive university in Virginia, is dedicated to quality, innovation, and results to the commonwealth, the nation, and the world.

Source: GhanaWeb.com

African Art corner – Victor Ehikhamenor

Victor Ehikhamenor is an award winning visual artist, writer and photographer from Edo State, Nigeria. He draws influences from traditonal African motifs and religious cosmology. Learn more about him and see his work at http://www.victorehi.com

Past Time of the gods
Past Time of the gods
Yesterday and today waiting for tomorrow
Yesterday and today waiting for tomorrow
Woman Wrapper
Woman Wrapper
The Rainmakers Dream
The Rainmakers Dream

Yorubas Contribution to Civilization

In this video, Prof. Brimmy Olaghere gives an account of African history and the contributions of the Yoruba people to Africa and the rest of the World.

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Among some of the most interesting information shared includes:

  • The pyramids were originally created in Sudan, not Egypt.
  • W. E. B. Du Bois was instrumental in the creation of the African Development Bank (ADB)
  • All languages used in Africa are derived from Yoruba
  • The Yorubas are the originators of the alphabet
  • The people of China originally migrated from Plateau state in Nigeria
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Global Ankara Trend: The Colorful Fabric Revolutionizing International Fashion

From the streets of Lagos, to countless boardrooms, to catwalks all over the world, the Ankara fabric has proven to be so versatile that it is now recognized on the global fashion scene. A number of celebrities have been spotted in Ankara ensembles on red carpets globally. To many, the Ankara fabric has become a wardrobe staple already.

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The fabric is used to make a growing number of fashion items; bags, shoes, dresses, jewelry and countless accessories. This development has led to a change in the general perception of the Ankara fabric worldwide. According the article Fashion Reborn: Blends of African outfits from Ankara, by fibre2fashion “Destiny of the ‘once before’ cheap Ankara fabrics, have undergone a magical transformation. Elegant creativity of the designers has made it a preferred choice of the rich and celebrities.” The African print fabric has metamorphosed from cultural attire to a glamorous wardrobe must-have and right now the spotlight is on Africa.

 

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This Ankara trend has impacted the West African economy in a lot of ways and thus, the Nigerian economy. In the mid- 1980s, there were around 180 functional textile mills in Nigeria. The mills employed approximately a million people, this accounted for more than 60 percent of the textile industry capacity in West Africa, empowering millions of households across all geopolitical zones of Nigeria. This however changed shortly as the sector crashed into an industrial abyss. During this period, the number of textile companies dropped from about 180 to almost zero. This was revealed by an article on Nigeria’s textile economy titled: Nigeria’s Textile Industry on a Rebound?.

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However, in recent times, the sector has rebounded. The number of functioning textile companies has risen once more to 25. While the industry may not be at its former place of glory, a steady incline can be noted in the growth of the industry which is largely due to the current global Ankara trend.

The rise in the demand of the fabric which was not too long ago considered to be a fabric for the poor or restricted to cultural festivities due to its brightly colored patterns and relative low cost, has led to a corresponding rise in the production of the material. Also, aside from the lower priced brands, a lot more textile factories have started producing the Ankara fabric in more appealing and sophisticated designs.

Furthermore, due to the ready availability of Ankara in the local market, it has become the preferred choice of fabric when making custom designed outfits. What was once considered to be a local market has grown exponentially to meet the increasing demands for the fabric worldwide. African designers and their Ankara designs are now sought out in all the echelons of the global society. The Ankara fashion industry has proven to be a veritable goldmine in these ways and many more.

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A lot of Ankara fashion shows spring up daily all over the global fashion scene. One of the more noteworthy ones is the annual Ankara Festival hosted yearly in Los Angeles, California. The festival or AFLA as it is commonly known was created in 2010 with the goal of increasing the visibility of African Culture through fashion, Arts, music, dance, and food. The festival aims to showcase Modern African Designs in African Print (Ankara), established African and African inspired designers, young up and coming designers, providing them a venue to showcase their abilities, and develop their entrepreneurial ambition in the international fashion arena. Another notable development is the Ankara Invasion. This has been adopted as the collective name for the current global Ankara trend. Different items fashioned out of the Ankara fabric are now spotted in places where it was once viewed as unsuitable.

As Duro Olowu -a Nigerian fashion designer- said, “For a long time, there was a sense that this was limited to Africa but now it has become global. Combined with an awareness of social responsibility, it makes for a powerful statement.” Countless international designers have launched various new designs revolving around the Ankara fabric. Marc Jacobs, Givenchy, Eley Kishimoto, Jean Paul Gaultier, Diane Von Furstenberg, Gwen Stefani, Dries van Noten, Kenzo and Paul Smith among others have included items fashioned out of Ankara fabric in their recent collections.

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A lot of renowned celebrities have also taken to this fashion trend. Beyoncé Knowles, Rihanna, Fergie and Kim Kardashian to name a few, have adopted the Ankara fabric and have been spotted in daring designs using one or more fabrics. The rise on the trend isn’t restricted to celebrities alone. A lot of foreigners who have seen the designs at work, on TV or even at school have joined the movement. It is not uncommon to find people wearing the fabric who may not even know the traditional name. The fabric is commonly referred to in these circles as “African Print”.

The overnight explosion of the use of Ankara fabric on the global fashion scene is perhaps one of the most notable fashion trends to have emerged from Africa over the last couple of years. The Ankara fabric is one that is very versatile and constantly evolving to meet today’s fashion fads. Hence, one may go as far as saying that the fabric and the trend have come to stay on the global fashion market.
beyonce-aliciaSource: Ventures Africa