Showing posts from March, 2019


The Tony Elumelu Foundation (TEF) has announced 3,050 African entrepreneurs, drawn from all 54 African countries, selected to join the fifth cycle of its $100 million TEF Entrepreneurship Programme.
The announcement was made at the Transcorp Hilton, Abuja, during the selection process by Accenture Development Partners. According to TEF, the latest figure shows about 50% increase from the over 1400 that made it in 2018. This year, over 216,000 applications were received, an increase from last year’s 151,000. Nearly 90,000 were submitted by female entrepreneurs, an increase of 45 per cent, illustrating the Foundation’s strategy to achieve greater gender balance.
The Foundation said the selected entrepreneurs will each receive non- refundable $5,000 of seed capital, access to mentors, and a 12-week business training programme, directly focused on the needs of African entrepreneurs. On July 26 – 27 2019, they will gather at the TEF Entrepreneurship Forum, the largest annual gathering of Afr…

How To Raise Capital to Fund your Business.

Putting all your eggs in one basket is never a good business strategy. This is especially true when it comes to financing your new business. Not only will diversifying your sources of financing allow your start-up to better weather potential downturns, but it will also improve your chances of getting the appropriate financing to meet your specific needs. Keep in mind that bankers don't see themselves as your sole source of funds. And showing that you've sought or used various financing alternatives demonstrates to lenders that you're a proactive entrepreneur. Many of us are endowed with great business ideas. However, the rate of implementing those ideas is very low due to lack of capital. It is why many people die with ideas that, if they were implemented, would have transformed the world into a better place. As an entrepreneur, you need to try and push yourself to the limit to make your ideas reality. Nowadays, banks have become so conservative with their cash. There are so …

Entrepreneurship is a SAD and TOUGH Journey

Being an entrepreneur might be the coolest fad in town, but by no means is it an easy one. It takes way too much out of a person — physically, mentally and emotionally. It’s like taking a vow that from that day onwards, you are going to put one thing (your startup) before every other thing in your life — your comfort, your joy, your family, your friends and, at times, even your peace of mind! In fact, many people actively avoid entrepreneurship because of the risks involved, the overwhelming amount of responsibility, the fact that there is no real work/life balance, and at the end of the day, every misstep or mistake falls on your shoulders.  But those of us that have decided to try our hand at entrepreneurship don't think too much about those things--that's probably why we're so gung-ho about it.
We become entrepreneurs because we want financial reward on our own terms. We want to build something special, and we believe in ourselves enough to do so. This is what makes e…