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Elumelu: “We give to empower and break the cycle of dependency. Entrepreneurship is the only path to independence and sustainability.”

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President Koroma of Sierra Leone, President Obasanjo of Nigeria, Governor Ikpeazu, Minister Lai Mohammed, Mrs Folorunsho Alakija, Join 1,000 African Entrepreneurs At 2016 Tony Elumelu Foundation Entrepreneurship Forum.

•         Foundation Announces Partnerships with African Development Bank, ECOWAS, Coca-Cola, Nigerian Ministry of Information.

 

 

At the largest annual gathering of African entrepreneurs, held in Lagos, Nigeria, the Tony Elumelu Foundation (TEF) hosted almost 1,000 women and men from 54 African countries, for the 2nd TEF Entrepreneurship Forum.

 

 

 

The Forum celebrates the 2016 cohort of Elumelu Entrepreneurs, selected from over 45,000 applicants. It is the annual highlight of the Tony Elumelu Entrepreneurship Programme and saw the presence of leading policy makers and business leaders from across Africa, giving their support to the Foundation and its promise to identify, train, mentor and seed 1,000 entrepreneurs in a decade-long $100 million commitment. Following the Forum, each entrepreneur is eligible to receive up to $10,000 to implement their business plan.

EEF 2016

(L-R): Former Prime Minister of Benin Republic Lionel Zinsou; President Olusegun Obasanjo, Former President of Nigeria; His Excellency Ernest Bai Koroma, President of Sierra Leone; Mr. Tony Elumelu CON, Founder of Tony Elumelu Foundation; Mrs. Awele Elumelu, CEO Avon Medical; Mrs. Folorunsho Alakija, Vice Chair of Famfa Oil; and Alhaji Lai Mohammed, Honourable Minister of Information, Tourism and Culture.

 

 

Applauding Tony Elumelu’s promise to not only empower entrepreneurs, but also to tackle the fundamental economic challenges confronting the African continent, His Excellency Ernest Bai Koroma, President of Sierra Leone called on others to emulate Elumelu. “Even when we had Ebola in Sierra Leone, Tony was there. His is an example which other successful Africans must follow.”

 

 

 

Focusing on the uniqueness of TEF’s approach to entrepreneurship development, President Koroma hailed the programme as “a genuinely innovative approach to philanthropy in Africa – an African offering African solutions.”

 

 

 

“What is unique about this programme is that it not only provides a platform for entrepreneurs to build connections, but they are also being taught how to build their businesses in a sustainable way. Other philanthropists will be inspired to support and promote this philosophy” the President concluded.

 

 

 

In his keynote speech, Mr. Elumelu stated “I salute those here, our ambition is that you become ambassadors for entrepreneurship in Africa – you are a generation of wealth creators, who share our commitment to the economic and social transformation of Africa. Let me tell you about Momarr Mass Taal, the CEO of Tropingo Foods, who has turned his first $5,000 seed capital received from the Foundation last year, into a $1.2 million revenue business. We all want many more of these! However, as excited as I am about the 2,000 entrepreneurs that we have selected, this gathering is in some ways bittersweet, as I reflect on the 63,000 ideas received in the Programme’s short two years of existence we were unable to select – our commitment is to all entrepreneurs in Africa.”

 

 

 

Mr Elumelu challenged all stakeholders from the public and private sectors, civil society, multilateral organizations and all individuals invested in Africa’s economic development to join hands with the Foundation to support the wider African entrepreneurial community.  “We need to support our entrepreneurs because extreme poverty and economic opportunity rarely coexist in the same place.”

 

 

 

He also announced partnerships with regional institutions the African Development Bank, ECOWAS, and others including Coca Cola, the International Trade Centre, Nigerian Ministry of Information, Culture and Tourism and Côte d’Ivoire Ministry of Entrepreneurship.

 

 

 

The two-day forum buzzed with energy as entrepreneurs shared and gained knowledge, built cross-border partnerships, and connected with investors and policymakers, fulfilling the goal of fostering innovation and collaboration between entrepreneurs from across Africa.

 

 

 

On Day One, attendees benefited from masterclasses on traditional and alternative means of financing, sales and marketing, as well as sector specific workshops and an in-depth session on Africapitalism –  Elumelu’s economic philosophy that identifies the leading role of Africa’s private sector, including its entrepreneurs, in Africa’s transformation.

 

In her opening remarks, Mrs. Awele Elumelu, CEO Avon Medical, Trustee of the Foundation and wife of Founder, Mr. Elumelu, welcomed the entrepreneurs to Lagos and commended their drive and effort in finding solutions to some of the continent’s most pervasive challenges. The CEO of the Foundation, Ms. Parminder Vir, invited entrepreneurs in the audience to continue to build the future and to challenge the flawed perceptions of Africa.

 

 

 

Day Two featured a high-level panel dedicated to identifying policies to strengthen the enabling environment for entrepreneurs, moderated by BBC anchor, Lerato Mbele, with panellists including His Excellency Ernest Bai Koroma, President of Sierra Leone, President Olusegun Obasanjo, Former President of Nigeria, Former Prime Minister of Benin RepublicLionel Zinsou, Alhaji Lai Mohammed, Honourable Minister of Information, Tourism and Culture and Mrs. Folorunsho Alakija, Vice Chair of Famfa Oil.

 

 

 

Opening the High-Level Panel, Mrs. Alakija congratulated the entrepreneurs, praised TEF’s focus on entrepreneurship and shared her own personal story of perseverance to demonstrate the entrepreneurs need for resilience and doggedness. Former President Olusegun Obasanjo hailed Elumelu’s perseverance and focus on giving back. “By every means, God has made His face shine upon you. You are not the only one, but unlike you, some others do not have the idea of empowering the next generation of Africans in the manner and scale that you are doing.” He further emphasized patience to the young entrepreneurs. In his words, “For strength in life you need a bit of adversity.” He also called on the Nigerian government to implement policies that encourage investors and entrepreneurs to do business in Nigeria. Former Prime Minister of Benin, Lionel Zinsou, commended the Tony Elumelu Foundation, stating “What Tony Elumelu is doing is the exception, not the norm.”

 

 

Other speakers at the event included Clare Akamanzi, Representative of President Kagame of Rwanda,  Kennedy Uzoka, Group CEO of the United Bank for Africa Plc (UBA), Minster of Solid Minerals, Hon. Kayode Fayemi, Segun Awolowo, CEO of the Nigerian Export Promotion Council, Clem Ugorji, Public Affairs & Communications Director, Coca-Cola West Africa, Emeke Iweriebor, Regional CEO of UBA Africa (Francophone), Matthew Pearson, Head of Africa Equity Sales at ICBC Standard Bank, Sam Nwanze, Chief Investment Officer at Heirs Holdings.

Details of the 2016 Elumelu Entrepreneurs can be found at http://tonyelumelufoundation.org/teep/ and TEF’s documentary “Tony Elumelu Entrepreneurs: Transforming Africa” at http://bit.ly/TEEPdocumentary.

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Bank Of Industry’s Former MD, Rasheed Olaoluwa, Others To Be Arraigned November 23

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The absence of the former Managing Director (MD), Bank of Industry (BoI), Rasheed Olaoluwa, and three others, on Tuesday frustrated their planned arraignment by the Economic and Financial Crimes Commission (EFCC) before Justice Olubunmi Abike-Fadipe of the High Court of Lagos State, Ikeja.

Others expected to be docked before the judge includes Sadat Abdullahi Aliyu, Mr Chibundu Edozie, and BGL Capital Limited.

They are to face a 13-count charge bordering on the alleged sale of BoI shares as slammed against them by the anti-graft agency.

In addressing the court, the Commission’s lawyer, Kehinde Adetoye, said though the case was slated for arraignment, the defendants were duly contacted that their arrangement would come up in court.

The counsel equally informed the judge that the Defendants were granted administrative bail since 2020, and ought to be in court for their arrangement.

In his response, Olabode Iranloye, counsel to the 2nd defendant (Sadat Abdullahi Aliyu) tendered an apology for the absence of his client and gave the assurance that the defendants would be in court at the next adjourned date to take their plea.

This prompted Justice Abike-Fadipe to adjourn the matter until November 23, 2022, for arraignment.

It would be recalled that the EFCC had sometimes in 2016 carried out a raid on the Lagos office of the BoI following what it termed a discreet investigation it had been conducting.

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How New Owner Saved Sheraton Hotel From Dwindling Fortunes, Den for High-class Sex Workers.

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The fortunes of Sheraton Hotels will soon be revived having been majorly acquired by its new owners. In its heydays, the luxury hotel was the place to be and commanded high patronage from the elites of society.

But in the last few years, the respect that the hotel commanded has dwindled considerably. With patrons allegedly complaining about one thing or the other, the chain of hotels, two in Lagos State and one in Abuja, is allegedly, currently surviving on its past glory.

Patrons of Four Points by Sheraton, Victoria Island, Lagos, complain about the hospitality centre becoming a den for high-class sex workers. It is alleged that the once serene environment where business moguls hold and attend conferences, lunch, dinner, and leisure meetings has over time become a sanctuary for these ‘businesswomen who come to the hotel in groups at times to seek prospective customers.

They allegedly contribute to lodge in the hotel to enable them to gain access to the swimming pool and bar areas where they can easily have access to meet rich clientele who also lodge there or are there for a drink or business meeting. These ‘business women’ allegedly became quite brazen, harassing unsuspecting customers, pitching their bodies as essential commodities to be had for a fee.

Many patrons have complained about the once luxurious Lagos Sheraton Hotel. They claim that the entire building looks like it could do with a face-lift. It is shabby, they said, and the interior décor is urgently in need of an overhaul. They have also complained about the grubby furniture and the fact that the hotel’s structures no longer match the brand.

The management of the Abuja branch of the hotel has been accused of institutionalising racism and gender-insensitive policies. Perhaps all of these may have contributed to 22 Hospitality Limited acquiring a majority stake of 66 per cent of the shares of the hotel group.

Following its acquisition, five members of the board of Capital Hotel Plc, the owners of Sheraton Hotel, resigned from their positions. They are Chief Anthony Idigbe, SAN; Dr Alexander Thomopulos; Mrs Fadeke Olugbemi; Mrs Helen Da-Souza and Mr Akpofure Ibru. 22 Hospitality Limited, the new owners of Sheraton Hotels, is a subsidiary of 11 Plc, formerly Mobil Oil Nigeria.

11 Plc is ironically owned by Ramesh Kansagra one of the richest Asians in the United Kingdom. Besides being the chairman of 11 Plc, Kansagra is also the Managing Director of Solai Holdings Limited, an investment services company with net asset value in excess of £160m.

Solai Holdings is involved in oil trading, raw materials for ceramic industry, agriculture and food industries processing with various investments in Africa and the UK. Ramesh holds 135 appointments at 135 active companies. The asset value of all businesses where Ramesh holds appointments equals €144.4 million, a combined total current assets vue of €745.7 million with a total current liabilities of €697.1 million and a total current net worth of €835.4 million. Ramesh is a recipient of the honourary award, Member of the Federal Republic of Nigeria.

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GLOWFUX Concert ’22: FANAFILLIT set to host 1,000 children and adults to a fiesta

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The organizers of the annual GLOWFUX Charity Concert, Fanafillit Integrated Concepts, have announced their plans to host not less than 1,000 adults and children from special homes across Lagos State. This was contained in its official statement made available to the press on Friday, to announce the official commencement of activities for the annual end-of-the-year social intervention event.

According to the statement signed by the Project Coordinator, Miss Margaret Ngonadi, this year’s edition marks the 7th edition of the impactful project and the second time of spreading its tentacles across Lagos State. “As we aim to again host children from special homes like orphanages, rehabilitation centers, less privileged homes, and homes of people with special abilities, we are not going back on our promise last year to make this glamorous event statewide”, the statement reads.

Reiterating their commitment to the project, the organizers stated that they look forward to giving everyone a funfilled, exciting, and memorable experience at this year’s edition of the GLOWFUX Charity Concert which is slated to hold on Saturday, 28th of December, 2022 at Dan & Den Arena, Elegushi Beachfront, Lekki, Lagos.

“The general public is welcomed to celebrate with our VIP guests who will be joining us from several orphanages/special need homes across Lagos State. Admission to the event is strictly by registration through the GLOWFUX registration link and invitations to some members of the public. However, all members of the public attending the event are encouraged to come with gift items as that’s part of the criterion for clearance at the entry point”, a part of the statement read.

On the content of the event, the organizers assured that this year’s edition of the GLOWFUX Concert promises to feature an avalanche of entertainment, gifts, food and drinks for all. “While we already have on board some notable entertainment practitioners like Kemi Stone, Da’Fresh Olorin, Vanessa Jones, Ogbono, TalkTalk, Princephelar, Meyrah, Maryjane Dawn, FKM, Dharnniella, we are working on more popular brands and entertainment practitioners to merry with the children and make them experience the overwhelming joy of the end-of-the-year festivities. Notable amongst entertainment brands we are in talks with are Prince Jide Kosoko, Funsho Adeolu, Bimbo Akintola, Yemi Blaq, Shushu Abubakar, Yinka Alaseyori and a host of others”, said the project coordinator in the release.

Also, the organizers announced the introduction of a new award category to its GLOWFUX Hall of Charity Award Category which is tagged GLOWFUX Charitable Corporate brand of the year to recognize and celebrate Corporate Brands whose charitable endeavors have impacted their immediate community.

The organizers of the GLOWFUX Charity Concert encourage the general public to join the cause as they set to put smiles on the faces of 1000 Special Children through donations and by attending the events with gifts.

GLOWFUX (Giving Love With Fun for Xmas) is an annual end-of-the-year charity concert that brings together children from orphanages/special need homes across the state for an unusual end-of-the-year celebration with the general public.

The last six editions of the GLOWFUX Charity Concert have recorded myriads of impact across the State with about 1,500 children from several special homes (government-owned and private-owned) as beneficiaries.

In addition to existing brands like iCare Foundation, Hands Lifting Hearts Initiatives, Corsican Brothers, Elegushi Royal stool, MALENS diagnostics, Headway Events, DJ MAPS Productions, OPREM Photography and NSNF who have always been part of the project, other notable being considered to come on board this year’s edition includes Fidson Healthcare, Beloxxi Biscuits, Dano Milk, Unilever Nig, Seniors Wellbeing Foundations, AkModel Properties, Hypo, Dan & Den Lounge, Germane Auto and SIFAX Group.

The media supports for this year includes AIT, KRAKS TV, Legit.ng, Pulse.ng, thestatusng.blogspot.com theeagleonline.com.ng, thegazellenews.com, newspop.com, mockinbird.com.ng, omonaijablog.com.ng, societyreporters.com, theheute.com.ng, freedomonline.com.ng, Hottestgistinnaija.com, Encomium magazine, YES! International magazine, theelitesng.com freedomonline.com.ng, thecitypulsenews.com, Global Excellence magazine, saharaweeklyng.com freelanews.com theimpactnewspaper.com

Inquiries on the partnership, support, and donations can be forwarded to any of the following contact 07032312815, 08111236196, 09159712472, 07061893629, 08103103198, or connect with the organizer on their social media pages @glowfux.

Donations can also be made through the link https://donate-ng.com/campaign/glowfux-concert

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