Nairobi entrepreneurship forum links african mentors with business owners

The commitment to nurture African entrepreneurship and drive economic transformation across the continent has gained impetus after a key forum in Nairobi

The event brought together a diverse group of stakeholders, including beneficiaries of the Tony Elumelu Foundation (TEF) Entrepreneurship Programme, seasoned mentors, key partners, and influential figures from Kenya's thriving entrepreneurial landscape.

The TEF-UBA Kenya Entrepreneurship Ecosystem Mixer forum saw participants sharing innovative ideas, strengthening essential networks, and celebrating the remarkable resilience and achievements of African entrepreneurs. The Tony Elumelu Foundation 's chief executive, Somachi Chris-Asoluka, underscored the foundational belief driving TEF's mission.

"At the Tony Elumelu Foundation, we believe that entrepreneurship is the most powerful tool we have to transform Africa," she stated.

"This gathering underscore our commitment to building robust local ecosystems and sustaining the journeys of our TEF Alumni. Through partnerships like this with UBA Kenya, we amplify impact, expand networks, and unlock opportunity."

UBA Kenya chief executive Mary Mulili lauded the partnership with the Tony Elumelu Foundation in empowering entrepreneurs who are the true drivers of Africa's economic transformation. "In Kenya alone, TEF has directly impacted 1,292 entrepreneurs with training, mentorship, and each received $5,000 (Sh in seed capital - a contribution that fuels job creation, innovation, and inclusive economic growth," she noted.

Mulili emphasised UBA Kenya's bid to provide sustained support, detailing tailored financial solutions such as working capital, asset financing, and overdraft facilities designed to help entrepreneurs scale and sustain their businesses. The event also served as a moment to reflect on the achievements of the TEF Entrepreneurship Programme over the past decade.

Since its inception in 2015, the programme has empowered over 24,000 entrepreneurs across all 54 African countries, disbursing over $100 million (Sh13 billion) in non-refundable seed capital.

This effort has enabled the creation of over 1.5 million jobs and granted 2.5 million individuals' access to vital entrepreneurial training via TEFConnect.

Collectively, TEF-supported businesses have generated $4.2 billion (Sh546 billion) in revenue and played a significant role in lifting over two million people out of poverty.

The Entrepreneurship Ecosystem Mixer seeks to empower a new generation of African entrepreneurs, fuel economic transformation, and ignite a ripple effect of opportunity and prosperity.