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10 Years Impact: Tony Elumelu Foundation Enhances Its Flagship Entrepreneurship Programme  

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  • On the heels of the tenth anniversary of the Tony Elumelu Foundation (TEF), the private-sector-led philanthropy focused on empowering African entrepreneurs has enhanced its flagship Entrepreneurship Programme to empower more entrepreneurs across the continent.

These enhancements, which took effect from January 1, 2020—the launch of the 6th cycle of the Programme—will achieve the Foundation’s mandate to transform the African continent through entrepreneurship.

Princess Adeyinka Tekenah, TEF Alumnus from Nigeria with her locally sourced and processed coffee

Most prominent among the enhancements are the new dates in the Programme cycle, its emphasis on providing thousands of entrepreneurs with business training, and its focus on leveraging technology to optimise the application and selection process as well as personalise the journey of each applicant in the Programme tailored to their knowledge and business stage.

The Programme cycle has been updated to place more emphasis on getting more entrepreneurs through the business training. Hence, the announcement of the finalists, who will ultimately be inducted into the TEF Alumni network, will no longer be held on March 22 but will be made at the TEF Forum – the largest entrepreneurship conference in Africa.

Mohammed Dhaouafi, TEF Alumnus from Tunisia with his affordable, 3D printed, bionic customiseable prosthesis.

Maximising the value derived from the Programme, applicants will now receive instant feedback on their progress to the next stage of the Programme, following their applications. Shortlisted applicants will receive business training tailored to their business stage and for those who move to the next stage mentorship and finally the top performing entrepreneurs from each country will proceed to the business pitching competition, which will determine the finalists to receive seed capital and an induction into the Foundation’s fast-growing alumni network across 54 African countries.

Also Read:  Economy In Q3 2019 : Ecobank, Standard Chartered Lead In Capital Importation To Nigeria 

The TEF Entrepreneurship Programme is the $100million commitment by investor and philanthropist, Tony O. Elumelu, CON through his investment company, Heirs Holdings. The Programme has become a beacon of hope for African entrepreneurs, currently empowering 9,631 beneficiaries across 54 African countries with training, mentorship, seed funding and exclusive access to global opportunities as well as a strong entrepreneurial community.

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TEF Alumni such as Ugandan Kwabena Danso who manufactures bicycles and its accessories from bamboo is one of the thousands of beneficiaries whose business has expanded beyond the shores of Africa to a global market, and is one of the success stories and impact recorded by the Programme’s innovative approach to the sustainable development of Africa. Others include Mohammed Dhauoafi from Tunisia, founder of Cure, a  3D printed, biosynthetic prosthesis manufacturing company and Princess Adeyinka Tekenah from Nigeria whose coffee making business has been dubbed Africa’s Starbucks by The Financial Times.

The application for the 2020 cohort of the TEF Entrepreneurship Programme is open till March 1, 2020 on TEFConnect.com.

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Caption: Princess Adeyinka Tekenah, TEF Alumnus from Nigeria with her locally sourced and processed coffee 

A person standing posing for the cameraDescription automatically generated

Caption: Mohammed Dhaouafi, TEF Alumnus from Tunisia with his affordable, 3D printed, bionic customiseable prosthesis.

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Sterling Bank Contributes N250m To Private Sector Coalition Against COVID-19

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Sterling Bank

Sterling Bank Plc, has contributed N250 million as part of its commitment to the newly formed Nigerian Private Sector Coalition Against COVID-19 created to help channel resources to combat the coronavirus disease under the theme: “We need you.”

 

 

The bank, in an email to its customers, disclosed that it is working with the Bankers’ Committee to lead the effort to raise N120 billion required by the Federal Government to fight the coronavirus pandemic and help achieve the shared goal of eradicating the virus.

Also Read:  Tony Elumelu Foundation Announces Final 2,100 African Entrepreneurs for the Inaugural TEF-UNDP Entrepreneurship Programme

 

 

Managing Director and Chief Executive Officer of Sterling Bank, Mr. Abubakar Suleiman said, “While this will go a long way, more still needs to be done. We have come to acknowledge that this battle will require every one of us to play our part as corporate citizens and individuals.”

 

 

He enjoined other public spirited corporate organisations and individuals to join in the fight against COVID-19 by making a contribution to the Fight COVID-19 Fund (FCF) and help the coalition to defeat the pandemic for good. He said every Naira donated will go a long way in saving the country from the pandemic.

Also Read:  Nigerian Breweries declares N157.3 Billion Revenue for H1 2016

 

Suleiman said donations should be sent to:

 

Bank Name:                Sterling Bank

Account Name:           COVID Donations

Account Number:        0076813615

 

He urged Nigerians to show their strength by uniting against the virus, saying a Swahili proverb which translated into English means “Unity is strength; division is weakness,” is needed now more than ever.

 

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Union Bank Partners 54Gene To Raise $500,000 Towards Nigeria’s Fight Against COVID-19

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Union Bank

Union Bank, one of Nigeria’s foremost financial institutions has announced a US$130,000 (N50million) donation to tackle the spread of the Coronavirus pandemic in Nigeria.

The donation was made into a fund set up by 54gene, an African genomics research, services and development company working closely with the Nigeria Centre for Disease Control
(NCDC) to fight the COVID-19 pandemic.
The money will help increase COVID-19 testing capacity in the country by up to 1,000 additional tests a day, by buying testing instruments and critical biosafety materials such as biosafety cabinets and personal protective equipment urgently needed to keep frontline healthcare workers safe.

The procured equipment will be installed in general hospitals and laboratories across the country, and will remain in place even after the ongoing COVID-19
pandemic, to be used in the case of future outbreaks.

In addition, there will also be extensive training and support to medical practitioners and volunteers working across the country to curb the menace.

Announcing the donation, the Chief Executive Officer of Union Bank, Emeka Emuwa, said: “Community is one of our core values at Union Bank, and there’s no better time to live this value than now. A critical need for the country at this time is to scale up our testing capabilities and give us a better chance of slowing the spread of the virus. We are therefore pleased to be supporting 54gene who is directly collaborating with NCDC and World Health Organisation who are coordinating Nigeria’s Covid-19 response.
While commending Union Bank on its donation, the CEO of 54gene, Dr. Abasi Ene-Obong also said: “The rapid and assured response from some of Nigeria’s most reputable institutions, such as Union Bank, to join us in our fight against this deadly disease is highly
welcome, and we thank them for their unwavering support. They, like us, understand the need for a multi-stakeholder, co-ordinated plan, that can be implemented almost immediately, as we work together as a community, side-by-side, to fight COVID-19 and protect our nation.”

Also Read:  Tony Elumelu Foundation Selects Inaugural 1,000 African Entrepreneurs to Participate in the $100M Tony Elumelu Entrepreneurship Programme

Last week, Union Bank, which had already been proactive in rolling out stringent safety and  hygiene practices within its branches and service locations, took the lead in activating remote work for its employees, directing more than 70% of its employees in non-service functions to work from home starting Monday, 23rd of March.

Union Bank also announced the launch of a toll-free Customer Care number 0800 700 700 which customers can call free of charge at anytime of the day or night to get help with banking issues.

Also Read:  Economy In Q3 2019 : Ecobank, Standard Chartered Lead In Capital Importation To Nigeria 

These initiatives underscore Union Bank’s commitment to containing the spread of the virus while actively supporting the communities within which it operates.

About Union Bank Plc.

Established in 1917 and listed on the Nigerian Stock Exchange in 1971, Union Bank of Nigeria Plc. is a household name and one of Nigeria’s long-standing and most respected financial institutions.

The Bank is a trusted and recognizable brand, with an extensive network of over
300 branches across Nigeria.

In late 2012, a new Board of Directors and Executive Management team were appointed to Union Bank and in 2014 the Bank began executing a transformation programme to re￾establish it as a highly respected provider of quality financial services.

The Bank currently offers a variety of banking services to both individual and corporate clients including current, savings and deposit account services, funds transfer, foreign currency
domiciliation, loans, overdrafts, equipment leasing and trade finance. The Bank also offers its customers convenient electronic banking channels and products including Online Banking,
Mobile Banking, Debit Cards, ATMs and POS Systems.

More information can be found at: www.unionbankng.com. Media Enquiries: Email yowonubi@unionbankng.com

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FIDELITY BANK COVOID-19 UPDATE

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In line with the collective resolve to fight the COVID-19 pandemic, Fidelity Bank, as a responsible corporate citizen, wishes to join in sharing information with the public as follows;

·Fidelity Bank mandates staff or immediate family member(s) who travel out the country to self-isolate for 2 weeks and obtain medical clearance before returning to work as part of our COVID-19 Preventive and Precautionary Measures.

· This process was activated and strictly adhered to by one of our staff members who returned from holidays in the United Kingdom.

· He was in self-isolation and underwent testing in line with the bank’s policy. The test results returned positive at the weekend and we quickly arranged for him to be moved to the Nigeria Centre for Disease Control (NCDC), where he is currently being attended to by health officials.

·We are in constant touch with him and have been monitoring the situation closely. Our thoughts and prayers are with him.

·Though the staff has not been at the bank since returning from the UK, he however brought some consignments for two other staff which were delivered to them individually.

·We have self-isolated the 2 individuals and sent them for necessary testing. In addition the office where these 2 individuals work, has been temporarily shut and has been disinfected.   Due to the proactive measures taken by the bank, contact tracing within the bank was very swift and conclusive with no customers involved.

·We have also shut down our Federal Secretariat, Abuja Business Office and advised all staff/vendors to self-isolate and go for testing in line with our policy on COVID-19, on account of possible exposure of a vendor staff.

· Apart from the directive on isolation and testing for staff and family members who have had trips abroad within this period, the bank has in place, several other precautionary measures as advised by the World Health Organization (WHO) and other health institutions. They include;

· Body temperature screening of staff and visitors before being allowed access to all our premises

·Wearing of gloves and facemasks by all our frontline staff.

·Reduction in the number of staff expected to come to work. 60% of our staff now work remotely from home.

·Reduction of the number customers allowed at a time into our banking halls to a maximum of 5.

·Encouragement of good personal hygiene and deployment of hand sanitizers at all our office locations.

·Social distancing and abolition of physical meetings and large gatherings

·Deployment of video conferencing and other devices to allow for remote meetings.

Fidelity Bank places a high premium on health and safety. We shall continue to do everything within our means to ensure the health and safety of all, including customers, vendors, staff and indeed everyone who comes into our premises.

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Also Read:  Heritage Bank Explains Benefits of SkoolBank Proposition
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