African Entrepreneurial Forum

The US Ambassador to Nigeria, Stuart Symington, on Monday urged Nigerians to always invest in entrepreneurial development in order to promote meaningful economic growth in the country. Symington gave the advice while addressing participants at the one-day forum to commemorate the Global Entrepreneurship Week (GEW) organised by the US Embassy and LeadPreneur, an NGO, in Abuja. GEW is an international initiative established in 2008 as a result of enterprise week in United Kingdom and entrepreneurship week USA 2007 to encourage young people participating in entrepreneurial ventures.
The envoy said that the call had become important because entrepreneurship was an economic concept that could be used to encourage people to develop and manage business and other ventures. According to Symington, Nigeria is a strong nation, but the government alone cannot provide all the services required to grow its economy, therefore, the need to invest in entrepreneurial ventures. Symington said: “If there is a…

I am indeed pleased to be here today, in such distinguished company. I am always delighted at every opportunity to return to Anambra, not only because this is my home and my root, but, also because it was in Anambra that my values were shaped and my path in life well defined. So this is more than a home coming for me, as it not only connects me with my people, but with what drives my passion – a celebration of excellence in academics generally, and particularly in the field of my entrepreneurship endeavour – Science and Engineering. By the conferment of this honourary doctorate degree on me, you have defied the popular maxim that a prophet is with honour except in his own country, and among his own kin. I am humbled that I have been found worthy of honour among my people; among kit and kin. What’s more – this recognition is from the great citadel of learning – the Chukwuemeka Odumegwu-Ojukwu University. Beyond the glitz of the podium and the hallowed stage on which this honour is pre…

Consider these 10 steps before making the big-boy move to the world of entrepreneurship. As an entrepreneur, you wear many hats — visionary, technician and manager. But you must not let the hustle and bustle of your business steer you away from having a solid financial foundation. Showing discipline with your personal finances will strengthen your success with your business finances. A few basic initial steps can be taken when making the transition from employee to entrepreneur. In addition to creating a business plan, you need to begin by figuring out the expected expenses for your particular field. There are also some common expenses for which you can prepare, such as fees to incorporate, costs of bookkeeping software and various forms of insurance you may be leaving behind with your former job. Next, create two spending plans: What your expenses and cash flow look like today, versus what they may look like when you start your company and are living off reduced income and savings. …

Last year, her friend Trishona Helm was visiting L.A. from their native Omaha and snapped Caldwell a picture of rolledice cream--which is rolls of ice cream placed vertically in a cup, finished off with various sweet toppings.  Helm's response: "Let's bring it to town. No, I'm serious."  In August, they invested $10,000 of their savings and a $30,000 loan into launching Mixins Rolled Ice Cream in downtown Omaha. By the end of October, the business had generated $100,000 in sales--and Caldwell is already planning to create a rooftop ice cream bar at Mixins next summer as well as mulling franchising the business.  Caldwell has a lot of company: Nearly 63 percent of women financed their businesses from their own savings, according to the 2018 State of Women and Entrepreneurship survey of 279 women. Compare that to versus 43 percent of surveyed Inc. 5000 CEOs. Caldwell, a 25-year-old biracial single mother with three kids, previously worked at a news station and childcar…

Lack of business skills and information about the available opportunities in the sector are among the factors undermining   women in business. This was disclosed on Tuesday in Kigali, during a three-day workshop that brought together 50 women entrepreneurs among others. Organised by the Sustainable Development Goals Centre for Africa, the workshop aims to strengthen the capacity of women in Rwanda who are running businesses. According to a trainee, Diana Gakwandi, from Centre for Education Network, women in business still lack the entrepreneurial  skills, specifically about financing, interacting with clients which affect their performances, adding that there is hope that the training will play a significant role towards their improvement. Eugenie Mushimiyimana, from the Private Sector Federation and owner of Mamu Tower Company, said that the main challenge was lack of knowledge. “Sometimes, we start busines with the intention of earning money, but some women entrepreneurs lack the skills …

5,000 African entrepreneurs, private and public sector leaders and the broader entrepreneurship ecosystem convened in Lagos on Thursday, October 25, 2018 for the annual Tony Elumelu Foundation (TEF) Entrepreneurship Forum. The event which is the largest gathering of African entrepreneurs in the world, is a unique opportunity for bringing together young business talent, creating dynamic networks and transmitting the message to policymakers that a vibrant and responsible private sector will deliver economic transformation. Now in its fourth year, the Forum marked the graduation of the 2018 cohort of the TEF Entrepreneurship Programme, following a rigorous nine-month period of training, mentorship and funding, which brought the total number of beneficiaries of the Programme to 4,470, with over 300,000 applications received to date. One of the highlights was the unveiling of TEFConnect, a revolutionary digital community that brings together the complete entrepreneurship ecosystem across Afr…