Budding entrepreneurs across Africa can now apply to join the second annual Tony Elumelu Entrepreneurship Programme (TEEP) for start-up businesses based in Africa.
The Tony Elumelu Entrepreneurship Programme application portal opens for entries on January 1, 2016 and will accept applications until midnight of March 1, 2016.
To apply, entrepreneurs must complete the online application form on the web portal. A statement from the organisers said successful applicants who complete the programme would receive the local currency equivalent of N850,000 as non-returnable seed capital, and are eligible for a further N850,000 in the form of either debt or equity, depending on business need and other criteria.
According to the statement, selected entrepreneurs will join the existing cohort of 1,000 Tony Elumelu Entrepreneurs, from 51 countries, who formed the inaugural 2015 cycle of the programme and have thus far, received considerable benefits from their participation. This include 12 weeks of training on how to set up and manage businesses with mentoring and financial support offered by the Tony Elumelu Foundation (TEF); accelerated growth as over 90 per cent of Tony Elumelu entrepreneurs, with existing businesses, have reported increased growth in the past year; and access to further funding as a significant portion of the TEF entrepreneurs had accessed additional external funding through the platform.
In addition, it listed the benefits to include networking opportunities.
Commenting on the programme, the Founder, TEF and philanthropist, Mr. Tony O. Elumelu said: “I believe in empowerment that can change the face of Africa as we know it. African entrepreneurs are our future leaders and I am passionate about giving them the opportunity to succeed.
“The Tony Elumelu Entrepreneurship Programme is a major, deliberate effort on my part, to institutionalise luck and provide seed capital funding, mentoring, business training, pan-African networking and springboard that our aspiring Entrepreneurs need to leap from.”
On his part, the Chief Executive Officer, TEF, Parminder Vir, called for a broader participation in TEEP this year, saying: “We encourage women and men with business ideas from all sectors, from every region, city, town and village across Africa, to apply. This is your programme and if you can demonstrate your passion and commitment, then this wonderful opportunity to become a Tony Elumelu Entrepreneur could be yours for the taking.”
The TEEP is open to citizens and legal residents of all 54 African countries. TEEP is a commitment by the TEF to identify and fund 10,000 African entrepreneurs over a 10-year period. It seeks to catalyse change on a massive scale across Africa, seeking to add $10 billion of additional revenues to Africa’s economy; provide over one million new jobs; and create a new generation of empowered entrepreneurs.
Sterling Homes Plans To Reduce Housing Deficit
Sterling Homes Limited has said it is committed to working with the government through private public partnership to reduce housing deficit in all the geo-political zones in the country.
The Managing Director, Mr Kunle Adeyemi, said this during an event on the company’s rebranding organised as part of its 10th year anniversary in Lagos on Friday.
During the event, the company while expressing commitment to excellence and customer satisfaction, unveiled its new logo with colours to define its mission and objections.
“We want to be present in all the six geo-political zones on Nigeria by providing affordable luxury homes, excellent torch. So for us, there is a need for us to rebrand and have a new direction and vision.
“We want to partner with the government on the present housing deficit; we want to embrace a public, private partnership with the government to reduce the deficit in every geo-political zone.”
The managing director said that one of its unique selling points was its after sales services which was top notch.
He said it ensured that its customers were taken through the journey of actualising their dreams of becoming home owners.
While noting that everyone deserved to have a comfortable home despite the economic situation, he said it had designed a structure payment plan with zero interest in some cases to help intending home owners.
He said it also had provisions for high breed options and developing areas to accommodate various income levels.
Before the end of the year, he said, Sterling Homes would be establishing new presence and projects in other regions.
Mutual Benefits Drives Financial Inclusion
Mutual Benefits Assurance Plc says it is committed to deepening financial inclusion and creating easy accessibility for insurance in the country.
A statement from the firm on Friday said it expressed this commitment when it inaugurated its South-West region franchise operations in Ibadan, Oyo State.
The Managing Director, Mr Femi Asenuga, said this was part of its efforts to develop the insurance business and create values.
He said, “The role we all have to play is to be ambassadors of Mutual Benefits.
“A franchise is a well-known word and the way Mutual Benefits practices franchise is in our normal style of creating and adding value; we never rest.”
Asenuga said that the firm was working with stakeholders to increase awareness and take its message to the grassroots.
In developed economies, he said, insurance firms owned banks. He regretted that this was not the situation in Nigeria.
He said the firm would provide stakeholders with the platform and support to make them excel as a member.
The Managing Director, Mutual Benefits Life Assurance Limited, Mr Ademola Ifagbayi, appreciated the stakeholders and urged them to take advantage of the franchise.
The Group Managing Director, Odua Group, Mr Adewale Raji, in his address, advised stakeholders to be committed and showcase good character and integrity.
He said, “The Odua investment is owned by the six South-West governments and it is in our interest when economic, businesses and investment spreads across the South-West states.
“This is an opportunity for us to strengthen insurance penetration within the South-West states.”
CAC Sets Three-Hour Circle For Company Registration
The Corporate Affairs Commission on Sunday stated that following the successful deployment of an end-to-end registration module, it was now prioritising the reduction of the registration circle for new companies to just three hours before the end of year 2021.
Registrar-General of the commission, Garba Ababukar, gave the indication at a dinner in honour of the Chairman, Governing Board, CAC and Nigerian Ambassador Designate to the Kingdom of Spain, Ademola Seriki.
The commission disclosed this in series of tweets posted via its Twitter handle on Sunday.
“To achieve the target, the registrar-general said the commission was making arrangements to empower over 400 approving officers with working tools to process and approve registration applications either from home or anywhere necessary,” the agency stated.
Abubakar noted that the challenges of COVID-19 pandemic had adversely hampered CAC’s delivery timeline.
He, however, said the CAC was resolutely committed to serving its customers despite being forced to operate with less than 50 per cent of its workforce.
While bidding farewell to Seriki, the registrar-general said he received the news of his appointment with mix feelings as CAC was going to miss his tremendous support and guidance.
The Minister of Industry, Trade and Investment, Niyi Adebayo, described the outgoing CAC Chairman as a man of immense pedigree and endowed with enormous potential to justify the confidence reposed in him by the president.
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