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Add to Preferred SourcesThe United Nations Development Programme (UNDP), the global development network of the United Nations, has partnered with the Tony Elumelu Foundation (TEF) – Africa’s leading philanthropy committed to empowering entrepreneurs – to train, mentor and financially support 100,000 young entrepreneurs in Africa over 10 years towards the achievement of the Sustainable Development Goals (SDGs) and the African Union’s Agenda 2063.
The TEF-UNDP Sahel Youth Entrepreneurship Programme, which is expected to mobilize support for businesses, aims to generate millions of new jobs and contribute at least $10 billion in new annual revenues across Africa. This was announced at the 12th Extraordinary Session of the Assembly of the African Union (AU).
The partnership will target young Africans in under-served communities, starting with the Sahel, given the region’s opportunity as the youngest population in the world with 194 million people under 25 years of age (64.5% of the total population).
Speaking on the partnership, Ms. Ahunna Eziakonwa, Assistant Secretary-General and UNDP Regional Director for Africa stated that: “We see Sahel as a land of many opportunities and investing in the youth is a pre-condition to stabilizing the region. The youth should be at the heart of any development agenda. We need to invest in their potential, talent, energy and enthusiasm and create the opportunity for them to fully realize their dreams. That is why UNDP is co-creating development solutions by investing in entrepreneurship models to promote inclusive growth. Partnership with the Sahelian youth entrepreneur is a catalyst for transformation and sustainable development. We call on other private sector entities to join the Tony Elumelu Foundation to support young entrepreneurs.”
The TEF-UNDP programme is fully aligned with the 1 Million by 2021 Initiative of the Chairperson of the African Union Commission, His Excellency Moussa Faki Mahamat. Launched in April at the AU Headquarters in Addis Ababa, the 1 Million by 2021 Initiative aims to concretely reach 1 million African youth from across the continent with opportunities and interventions in the key areas of Education, Entrepreneurship, Employment and Engagement (4Es) to accelerate Africa’s socio-economic development.
Through the TEF-UNDP partnership, the selected applicants will each receive a maximum of $5,000 non-refundable seed capital, access to mentors, a 12-week business training and networking opportunities. They will join the previously announced 3,051 beneficiaries of the 2019 cohort of the TEF Entrepreneurship Programme.
Original source: UNDP
Published on 06 July 2019