Nigerian tycoon inspires Kenyan entrepreneurs with Sh168m seed capital

Tony Elumenlu meets President Obama during the Global Entrepreneurship Summit in Nairobi recently

A thousand aspiring entrepreneurs drawn from across Africa gathered at Ota, outside Lagos, Nigeria recently in an unprecedented forum to learn how to build their fledgling businesses and exchange experiences.

What made the novel gathering stand out truly tall was the seed capital of $10,000 (Sh1 million) each of the 1,000 start-up entrepreneurs was entitled to and the source of the money, billionaire philanthropist Tony Olumelu. Amazing, given the fact that the Nigeria born entrepreneur’s motivation is nothing but a resolute determination to prove to the world that the African private sector if adequately enhanced can be the primary generator of the continent’s economic development and the wherewithal to go with it. His gesture left minds wondering where Africa would be with a dozen other Elumelus.