The Tony Elumelu Foundation and United Bank for Africa Plc (UBA)
partnered with the United States Department of Commerce to host a panel and
roundtable discussion between members of the U.S. Presidential Council on Doing
Business in Africa (PCDBIA)and a diverse community of African entrepreneurs.
The 11 person U.S. delegation, along with representatives of several
U.S. government trade and investment-focused agencies, was led by the
Honourable Penny Pritzker – U.S. Secretary of Commerce. The Council visited
Lagos as part of a fact-finding mission to help inform their upcoming report to
President Obama on how to strengthen commercial engagement between the U.S. and
Africa, which will result in mutually-beneficial growth.
The event – titled “Unleashing Africa’s Entrepreneurs:
Strengthening the Entrepreneurial Ecosystem to Empower the Next Generation of
Africa’s Business Leaders” – brought together American business
leaders and Nigerian entrepreneurs to discuss challenges, solutions and
innovations in the current African business environment. The event was designed
to allow representatives of the U.S. Government to participate in direct and
substantive discussions with Africa’s emerging business leaders – an
opportunity to engage in a dialogue that has the potential to influence U.S.
foreign policy for Africa.
"President Obama believes, as I do, that the American private
sector, working in partnership with the African business community, and
African entrepreneurs can help address many of the continent’s most
pressing challenges, including creating jobs and opportunity for
young people across the continent," said U.S. Secretary of Commerce Penny
Pritzker. "I am proud to lead our Administration’s effort
to support and empower aspiring entrepreneurs, both in the United States and
across the globe."
UBA Chairman Tony O. Elumelu, through his eponymous Foundation, hosted the delegation, and
expressed gratitude for the collaborative approach the Council and U.S.
Commerce Department are taking in engaging local entrepreneurs as part of their
deliberations.
“Too often, well-meaning foreign policy-makers develop strategies to
help Africans without actually engaging us,” he said. “In order to effectively
help or support people, we should ask them what kind of help they want.
So, I thank you for doing that with African businesses.”
For the U.S. Government, this trip begins the Road to GES 2016 – the
Global Entrepreneurship Summit; an annual gathering of entrepreneurs at
all stages of business development, designed to demonstrate the U.S.
Government’s commitment to fostering entrepreneurship around the world.
Expressly designed to address the needs of and provide opportunities for
the next generation of African entrepreneurs, the entrepreneurs in attendance
included SMEs supported by UBA Plc, UNCTAD’s EMPRETEC Nigeria Foundation and
those selected for the Tony Elumelu Entrepreneurship Programme (TEEP) – a
10-year, $100 million commitment by the Tony Elumelu Foundation to empower the
next generation of Africa’s entrepreneurs with businesses that have the
potential to generate income and jobs for their nations.
The Tony Elumelu Entrepreneurs in attendance were selected from the
Agriculture, Media & Entertainment, ICT, Transport, Healthcare and
Financial Services sectors. Their startups reflect the potential that
entrepreneurship holds for spurring Africa's transformation; already, they have
begun creating jobs in their local communities and generating tax revenues for
governments earning them recognition in both local and international
media.
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