The European Union and the Tony Elumelu Foundation (TEF), the leading African organisation supporting entrepreneurship in Africa through training and funding, have decided to join forces to support more than 2,500 African women entrepreneurs, the EU announced on Wednesday 9 December, the day on which a high-level EU/African Union meeting was due to take place, but which was eventually postponed (see separate news).
A new €20 million programme will promote the economic empowerment of these women by improving their access to finance and venture capital investment.
“This partnership with the Tony Elumelu Foundation will help women participate in economic development, realise their full potential and accelerate economic inclusion”, said Jutta Urpilainen, European Commissioner for International Partnerships, in a statement.
The programme is co-financed by the EU and the Organisation of African, Caribbean and Pacific States (OACPS), in collaboration with the German Ministry for Economic Cooperation and Development (BMZ).
Over the past ten years, TEF has mentored and funded nearly 10,000 young African entrepreneurs in the 54 countries of the continent through its entrepreneurship programs. (Original version in French by Aminata Niang)