The Founder/Chairman, Tony Elumelu Foundation (TEF), Mr. Tony Elumelu, has said that a conducive business environment is the panacea to Africa’s youth migration.
Elumelu, who said this at a dinner held for visiting European Union (EU) Commissioner for International Partnerships, Ms Jutta Urpilainen, in Abuja, added that youth migration can only stop when the continent’s leaders develop an economy where there is employment and prosperity.
According to the founder TEF, private sector players, development partners and the government must join hands saying that it was about time citizens were economically empowered rather than the occasional handouts that are doled out.
He said, “What is important is for all of us to demonstrate confidence and continue to push and advocate for better governance and the right enabling environment.
“There are so many global private capitals looking for the right investment destination. If we turn our country to the right investment destination, capital will come and when capital comes, we are able to develop the country to create employment, jobs and fix insecurity and in that process, we create prosperity for posterity.”
Elumelu revealed that since its inception, the Foundation has spent over $100 million empowering over 18,000 young African entrepreneurs.
He said, “The Tony Elumelu Foundation has committed $100 million to impact 18,000 young African entrepreneurs by giving them a seed capital of $5,000 and training them for six weeks as well as providing mentors to coach them. They in turn have gone to create thousands of jobs, which is the impact we want to see.
“The impact report of the foundation shows that it has created over 400,000 jobs and we will continue to invest more in youth entrepreneurship.”
In her remarks, Urpilainen said the EU was committed to its partnership with TEF, noting that the Foundation was doing a great job through the empowerment of young entrepreneurs across the continent.
