Nigerian multimillionaire businessman and philanthropist Tony Elumelu has promised to support female farmers, particularly those in rural regions, as part of an effort to reduce the risks posed by food insecurity, which is presently Africa’s most serious concern.
At a private sector gathering on Wednesday in Lagos, the businessman, who has been instrumental in advancing capitalism in Africa by launching programs through the Tony Elumelu Foundation (TEF), the African non-profit that he formed in 2010, voiced his support for female farmers.
Somachi Chris-Asokula, director, for partnerships and communications at TEF, stated at a private sector meeting organized by the International Federation of Red Cross and Red Crescent Societies in collaboration with the Nigerian Red Cross Society that the nonprofit will collaborate with the SheFarmers Initiative to support female farmers.
While stressing that entrepreneurship is the most sustainable way to transform the continent and that the TEF is always looking for new ways to help young Africans, Chris-Asokula reiterated that education is not a prerequisite for accessing TEF funding, but rather ideas, particularly ideas that address TEF’s priority sustainable development goals.
As part of the effort to drive business growth not only in Nigeria but throughout Africa, Elumelu recently agreed to a $20-million deal with the United States African Development Foundation (USADF) to promote African entrepreneurs and enterprises.
The multimillion-dollar agreement was signed through TEF. The signing of the deal aligns with the USADF’s commitment to Africa and Elumelu’s strategic efforts to invest in African women and youth.
Elumelu, the chairman of TEF and United Bank for Africa, one of Nigeria’s leading financial services groups, has played a crucial role in supporting young businesspeople and entrepreneurs throughout Africa.
Last year, the Nigerian banker selected 4,949 entrepreneurs from throughout Africa for his philanthropic foundation’s 2021 entrepreneurship program, where each of the entrepreneurs received $5,000, totaling $24.75 million in funding support.
