Nigerian Woman Gives $16.8m seed capital To 3369 Young African Female Entrepreneurs

Billionaire’s wife and trustee of Tony Elumelu foundation, Mrs. Awele Vivian Elumelu has supported 3369 young African female entrepreneurs with $16.8m. 

The young African female entrepreneurs are to receive $5k each as a seed capital in growing their businesses in different parts of Africa. The $16.8m is a non-refundable seed capital as part of the 2021 Tony Elumelu Foundation Entrepreneurship program.

This announcement was made via social media by her husband, Tony Elumelu who is the chairman of United Bank of Africa (UBA) and the founder of Tony Elumelu Foundation. He described his wife as a ‘silent supporter of the foundation.’

Over the years, the foundation has spearheaded the raising of numerous entrepreneurs through training and mentorship programs as well as supporting them financially since 2010.

The foundation has disbursed $24.75m to 5000 African SMEs and entrepreneurs this year alone. The $16.8m makes up over 68% of the total candidates selected this year.

Tony Elumelu, few months ago made headlines when he accepted to mentor a young undergraduate student who reached out to him for mentorship through LinkedIn.

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