Throughout the world, Small and Medium Enterprises (SMEs) play a crucial role in addressing the impediments of poverty, inequality and job creation in rural areas. They are an important source of employment, particularly for women, low skill workers and the youth.
To ensure Africa achieves its full potential, African leaders have expanded their focus on youth; creating platforms they can leverage to develop themselves and the continent at large. In order to achieve these goals, it is important that the private sector steps in to support the governments.
Tony Elumelu’s philosophy of Africapitalism positions Africa’s private sector and most importantly entrepreneurs, as the catalyst for the social and economic development of the continent.
The UBA Group Chairman Tony Elumelu has through his philanthropy; the Tony Elumelu Foundation (TEF) empowered over 7,500 young African entrepreneurs.
After his visit to President Macky Sall of Senegal, the Chairman paid a visit to President Felix Tshisekedi where he thanked him for being part of the TEF Forum 2019.
Mr Tshisekedi, who is less than a year into his presidency, has already shown he is on the side of African entrepreneurs. Tshisekedi seems to share the belief that African entrepreneurs have the potential to unleash the continent.
In his visit to President Kagame in Kigali, Elumelu also thanked him for his presence at the TEF Forum 2019. Both men spoke about each other with admiration, highlighting the impact they’ve both made in building the future of Africa.
President Kagame believes the wealth of Africa has enriched the world and that it is time “to enrich ourselves and strengthen our own nations”.
“Well done for giving Africa hope, for giving African entrepreneurs more to dream for and build from,” Kagame lauds Elumelu.
For the UBA Group Chairman, as long as Africa has leaders who are prioritizing investment in African entrepreneurs, among other policy actions that encourage growth, there will always be success stories by African entrepreneurs and the Africa that we seek will materialize.
Earlier this year, United Bank for Africa (UBA) Plc and the Agence Française de Development (AFD), France’s public and solidarity-based development bank signed final documents facilitating the financing of small and medium enterprises (SMEs) and start-ups across the 20 countries where UBA operates in Africa.
UBA continues to show commitment to empowering SMES in Africa.