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UNDP Partners with the Tony Elumelu Foundation to Empower 100,000 Young Entrepreneurs in Africa

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Niamey, 6 July 2019 – The United Nations Development Programme (UNDP), the global development network of the United Nations, has partnered with the Tony Elumelu Foundation (TEF)

Africa’s leading philanthropy committed to empowering entrepreneurs — to train, mentor and financially support 100,000 young entrepreneurs in Africa over 10 years towards the achievement of the Sustainable Development Goals (SDGs) and the African Union’s Agenda 2063.

The TEF-UNDP Sahel Youth Entrepreneurship Programme, which is expected to mobilize support for businesses, aims to generate millions of new jobs and contribute at least $10 billion in new annual revenues across Africa.

This was announced today at the 12th Extraordinary Session of the Assembly of the African Union (AU), where TEF Founder, Tony Elumelu and UNDP Regional Director for Africa, Ahunna Eziakonwa joined African Presidents at the African Continental Free Trade Area (AfCFTA) Business Forum, where the agreement was signed. The President of Niger, H.E Mahamadou Issoufou joined UNDP and TEF to launch the programme.

The partnership will target young Africans in under-served communities, starting with the Sahel, given the region’s opportunity as the youngest population in the world with 194 million people under 25 years of age (64.5% of the total population).

The TEF-UNDP Sahel Youth Entrepreneurship Programme will be implemented through TEF’s flagship Entrepreneurship Programme, which has already benefited 7,520 local entrepreneurs across 54 African countries in just five years of existence. Similarly, the programme builds on UNDP’s YouthConnekt initiative.

The aim is to increase job creation through dynamic entrepreneurship and create sustainable economic growth that anchors the development of communities and states.

Speaking on the partnership, Ms. Ahunna Eziakonwa, Assistant SecretaryGeneral and UNDP Regional Director for Africa stated that: “We see Sahel as a land of many opportunities and investing in the youth is a pre-condition to stabilizing the region. The youth should be at the heart of any development agenda. We need to invest in their potential, talent, energy and enthusiasm and create the opportunity for them to fully realize their dreams. That is why UNDP is co-creating development solutions by investing in entrepreneurship models to promote inclusive growth. Partnership with the Sahelian youth entrepreneur is a catalyst for transformation and sustainable development. We call on other private sector entities to join the Tony Elumelu Foundation to support young entrepreneurs”

On her part, CEO of the Tony Elumelu Foundation, Ifeyinwa Ugochukwu said: “Our partnership with UNDP is welcome and timely – it will directly assist entrepreneurial success in a number of fragile areas and is a testament to the validated approach to philanthropy we have pioneered. Africa needs partners that do not only believe in the potential of its private sector to champion economic development, but backs this with commitment. With this agreement, UNDP has proven to be a true partner to Africa’s entrepreneurs and has demonstrated its commitment to work with us to scale up the impact of this initiative and eliminate poverty on the continent”.

 

The TEF-UNDP programme is fully aligned with the 1 Million by 2021 Initiative of the Chairperson of the African Union Commission, His Excellency Moussa Faki Mahamat. Launched in April at the AU Headquarters in Addis Ababa, the 1 Million by 2021 Initiative aims to concretely reach 1 million African youth from across the continent with opportunities and interventions in the key areas of Education, Entrepreneurship, Employment and Engagement (4Es) to accelerate Africa’s socio-economic development.

The Chairperson of the AUC speaking at the launch of the 1 Million by 2021 initiative said: “The1 Million by 2021 initiative is an African call to action that aims to ensure that no young persons aged 15-35 is left behind. The initiative adopts a Pan-African outlook and facilitates strategic partnerships to open up new opportunities for young people on the continent…The AU has the expertise, convening power and continental reach at our disposal but that

 

alone cannot guarantee success. We need commitment from our public and private sector partners to achieve success. In the face of our overwhelming task, a collective effort is necessary to stand and succeed. In Africa, we say, ‘Broomsticks bound together are difficult to break. This is the approach that I implore us to take”.

Through the TEF-UNDP partnership, the selected applicants will each receive a maximum of $5,000 non-refundable seed capital, access to mentors, a 12-week business training and networking opportunities. They will join the previously announced 3,051 beneficiaries of the 2019 cohort of the TEF Entrepreneurship Programme.

The applications will be run on TEFConnect, the largest digital networking platform for African entrepreneurs and forms will be available in any of the branches of the United Bank for Africa (UBA). Following the end of the application window, an initial longlist of 5,500 applicants will be selected to undergo the 12-week business training. After the training, the final shortlist of 2,000 applicants will be announced to join the previous 2019 TEF cohort. ###

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Business

Kenya Botswana ties to strengthen after State Visit

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The Botswana head of state on his three-day state visit, was formally received on Tuesday morning by President Kenyatta at a colorful ceremony at a State House Nairobi. President Masisi received a 21-gun salute and a parade of honor, preserved for visiting Heads of State.

The meeting between the two heads of state witnessed the signing of agreements which cover three key pacts between the two countries; bilateral trade, air transport and ICT.

The non-double taxation agreement was also signed signed by Foreign Affairs Cabinet Secretary Monica Juma representing  Kenya and Internal Affairs and Co-operation Minister Unity Dow representing  Botswana.

READ ALSO: Shame as CS Rotich, PS Thugge and Top Government Officials Appear at Milimani Courts to be Charged

Botswana vows to support an endorse Kenya’s bid for a seat at the UN security Council once the opportunity arise later in the year out of “trust” that Kenya would support it, too, in other international bids.

Botswana will vote before Kenya votes itself in. This is out of a desire to further nourish our friendship because we trust you with your willingness to engage with our issues that need broad discussions at the United Nations,” he said during a briefing with President Uhuru Kenyatta.

President Mokgweetsi Masisi said his private talks with President Kenyatta and the bilateral meeting between their respective delegations goes to strengthen the close historic ties between the two countries. This is seen after the signing of an unimplemented MoU between the states in 2006.

READ ALSO: Horrific Plot to Kill Classmate Over Boyfriend Leads to Arrest of Form Two Girls.

In 2018, Botswana exported goods worth 182, 406 U.S. dollars to Kenya and these goods mostly consisted of vehicles, tractors, articles of textiles and plastics, according to statistics published by Xhinua.

“I wish to reiterate Kenya’s commitment to continued co-operation with Botswana, both at the bilateral and multilateral levels, to further deepen our bonds of co-operation and friendship,” President Kenyatta said at the breifing.

Deputy President William Ruto was also in attendance.

 

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Farmers Should Capitalize on the New KCC for Profits, Uhuru Kenyatta

The president said local factories are a key component to ensuring economic growth

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”Let us consider rearing grade cows that will help us boost the milk production that will enough for us and even get to where we can export to neighbouring countries as well as the Gulf states and Arabia,” said Kenyatta.

The President also promised to revamp and set into operation other factories that had collapsed in order to address the unemployment challenge and boost the economy

“There is now the third factory we are revamping after Eldoret, Sotik and we have now expanded this new plant in Dandora, which later we will revamp Nyahururu and the one in Kiganjo,” he adds.

He also warned the new management of Kenya’s second-biggest milk processor against financial crisis like their predecessors had done.

“I want our directors to know that last time it was your predecessors who collapsed this factory, please ensure that the money that we have invested in this process benefits farmers and Kenyans at large. Be loyal to these farmers who have trusted you with those positions,” Kenyatta also said.

In March, the Ethics and Anti-Corruption Commission received complaints about KCC boss Nixon Sigey and had instituted an investigation.

He was accused of using Sh2.6 million to hire a helicopter to ferry Deputy President William Ruto and Trade Cabinet Secretary Adan Mohamed to Nyahururu, Kiganjo, and Eldoret in August last year.

Former New Kenya Cooperative Creameries Matu Wamae was also on the spotlight last year over Sh1.7 billion loss claims.

In May New Kenya Cooperative Creameries Matu Wamae exited the company after serving for 15 years to pave way for the new management.

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Lipa na Mpesa partners with Petro Oil Kenya

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Petro Oil Kenya in collaboration with Mpesa by Safaricom has launched a new Lipa na Mpesa cashback system in Mombasa.

The campaign which is set to run for three months will see motorists who purchase fuel using the Lipa na Mpesa platform get cash rewards.

Speaking at a Petro Oil LTD station in Mombasa, Mr Ben King’ori, the Chief Executive Officer of the company said that every customer who makes fuel purchases of over sh. 1,000 will get a 1% cash reward on the amount spent.

The promotion will run in all the 32 Petro Oil stations across the country.  Mr. Ben acknowledged that the initiative is a small way of giving back to the community given the high cost of living and the recent hike in fuel prices.

The price of fuel increased when the Energy and Petroleum Regulation Authority (EPRA), announced new rates earlier this week.

Read also:https://www.kdrtv.com/business/spring-blues-worsen-as-fuel-prices-hike-in-kenya/

 

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Foreigners to be deported for operating betting firms illegally

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Interior Cabinet Secretary Fred Matiang’i has signed deportation orders on 17 directors involved in gambling, to be effected immediately.

Majority of these deportees are Europeans who have violated work permits engaging in business not stated on the application.

In May, Mr. Matiang’i issued a list to the Inspector General of Police and the Director of Criminal Investigations for review of directors of betting companies in a move intended to rid the country of those with work permits not authorized for gambling.

READ ALSO: Agriculture CS Mwangi Kiunjuri on the Spot for being used by Cartels to force Importation of Maize

“The Europeans violated work permits by engaging in business not stated on applications,” Wangui Muchiri a spokeswoman for the ministry said Tuesday., “The deportation orders are immediate.”

The CS, during a betting control and licensing stakeholders meeting, said that almost 100 per cent of the revenue raised by the gaming and betting firms owned by foreigners is repatriated to their home countries. It is estimated that the industry turns around KSH. 200 billion annually.

The government has lately intensified a crackdown on gambling in the country, and has even ordered mobile telecommunication companies to shut down short codes operated by betting firms, sparking outrage from the firms which have already filed a challenge in court.

some of the firms affected include Lucky 2 U, Asian Betting and Gaming Ltd, Kick Off Sports Bar Ltd, Mozzarbet Kenya Ltd, Atari Gaming Ltd, Millionnaire Sports Bet Ltd, Premier Betting Ltd, Advanced Innovation Ltd, Sekunde Technologies among others. All insist they are being targeted unfairly while claiming that they pay requisite taxes as required by law.

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