Modupe Gbadeyanka
By Modupe Gbadeyanka
A case study to spotlight the role of celebrated African businessman, Mr Tony Elumelu, in transforming the development agenda on the continent through his Tony Elumelu Foundation (TEF) has been introduced by the Harvard Business School.
The case study, launched on Thursday, February 29, 2024, will critically look into how the former banker is catalysing entrepreneurship in Africa through his Africapitalism approach.
At its unveiling before a class of graduate students at Harvard Business School, Mr Elumelu said, “TEF is creating economic hope and opportunity for African entrepreneurs. We know that entrepreneurship is the solution to youth unemployment and insecurity.
“Through the intervention of the foundation, we are transforming our young people, giving them hope. Collectively, all of us can resolve the challenges that we have on the continent.
“It is wonderful to have had the opportunity to work with HBS, to spotlight our successes, acknowledge the challenges that we have at times faced, and provide the opportunity to spread our experience, for the benefit of others.”
The Harvard Business School session provided an opportunity to engage in a meaningful discussion on the role of philanthropy in shaping sustainable and inclusive economies.
As the world grapples with complex challenges around demographics, climate and sustainability, the Tony Elumelu Foundation model offers a fascinating model of how strategic philanthropy can be a driving force for positive change.
The case study, it was gathered, will explore the foundation’s unique approaches and transformative initiatives, showcasing how the strategic philanthropy offered by TEF, is driving positive change and elevating countries and communities.
It recognises the challenges the foundation faces, and its responses, as it developed its mission, since its founding in 2010.
The track record is impressive, with over 20,000 entrepreneurs funded, over a million connected digitally and the development of an impact assessment capacity.
TEF has disbursed over $100 million, reaching every African country. It is increasingly developing a partnership-based approach, working with institutions such as the European Union, the United States agencies, the UNDP, the ICRC, the Ikea Foundation, and others to develop bespoke programmes focused on fragile states, female entrepreneurs and sustainability initiatives.
