The Vice President of Nigeria, Professor Yemi Osinbajo, at the weekend charged young Africans to strive to turn around the continent’s fortune through entrepreneurship development.
The theme of the 2019 forum: ‘Empowering African Entrepreneurs’ was apt considering the urgent need for African youths to conquer their economic and environmental challenges through startup entrepreneurships capitals.
Osinbajo who made this statement at the Transcorps Hilton Hotel, venue of the 5th Edition of the TEF forum in Abuja, gave kudos to the leading African philanthropic organization The Tony Elumelu Foundation (TEF) and the United Bank for Africa (UBA) for assisting
The TEF, arguably the largest gathering of entrepreneurs, policymakers, and business leaders across the continenthas over the years, empowered thousands of African entrepreneurs who receive annually $5,000 non-refundable seed capital through its $100 million Entrepreneurship Programme.
At the event, Osinbajo charged African leaders on the urgent need to provide an opportunity for young entrepreneurs in the continent, so that they can as private sector, continued to enhance the transformation of power that modern technology has provided.
He said, “Multitudes of young Africans who have refused to wallow in self-pity and frustration have realized that conquering of the challenges of the environments is the milestone to outstanding success.
“Although, our continent has continued to be defined by the unsavory and an unwholesome story which do not often accurately represent the realities of life and opportunities abound.
“We should be mindful of the fact that the challenge to create an enabling environment for all of these young entrepreneurs to thrive rest on our shoulders as leaders,” Osinbajo added.
The vice president went on to describe the present generation of African youths as the “Smartest that has ever lived”
Also speaking, the President, African Development Bank (AfDB), Dr. Akinwumi Adesina said Africa cannot keep postponing her liabilities into the future, saying the continent “has risen”.
“About 12 to 13 million people enter the market every year and cannot find jobs. Worst still, by 2050, Africa will have about 800 young people and a billion people by 2060.
“In view of this, I think it’s time for African leaders to create youth entrepreneurship and investment banks for African youths so that we can begin to change from youth empowerment to youth investment.
The founder TEF, Mr Tony Elumelu, started his remark with a caveat, saying that the private sector holds the key to unlocking Africa’s economic potential.
He therefore tasked young Africans, saying that the stage is set for them to take.
Elumelu, Africa’s foremost champion of entrepreneurship who is passionate about Africa’s economic development thereafter implored African leaders to focus transportation development in the continent, saying it is key for the continent’s development.
In her opening remarks earlier, the CEO TEF, Ifeyinwa Ugochukwu, described the event as the beginning of the rise of African entrepreneurship.
Ugochukwu explained further that the forum has continued to create jobs and generating revenues in millions, adding that the $5 billion fund will create an additional one million entrepreneurs who will, in turn, create 25 million jobs across Africa.
Other speakers at the event are Director-General of the World Health Organisation; Tedros Ghebreyesus, Director-General, AFREXIM Bank; Benedict Oramah, DG, BADEA; Sidi Tar, the Deputy DG of the EU Commission; Koen Doens, and Vice President International Committee of the Red Cross, Gilles Carbonnier,
The occasion was also graced by invited Presidents: Paul Kagame of Rwanda, President Macky Sall of Senegal, President Felix Tshisekedi of the DRC, Uganda vice president, Dr. Ruhakano Ruganda and Group Managing Director of the United Bank for Africa, Kennedy Uzoka,
The governors of Kwara, Ekiti, Kebbi and Niger states were also in attendance.
