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Kagame, Sall to Address Over 5,000 Entrepreneurs at TEF Entrepreneurship Forum

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By Modupe Gbadeyanka

Two leading African Presidents, Mr Paul Kagame of Rwanda and Mr Macky Sall will deliver speak with over 5,000 entrepreneurs from the continent at the Tony Elumelu Foundation Entrepreneurship Programme slated for July 26 and 27, 2019 in Abuja

The event is the brainchild of the Tony Elumelu Foundation (TEF), Africa’s foremost champion of entrepreneurship. This year’s edition is the 5th and will take place at the iconic Transcorp Hilton Hotel, Abuja.

The forum provides a unique opportunity for young women and men, from all 54 African countries, to meet, learn and network with the broader African and global entrepreneurship ecosystem. It is also a critical opportunity for political leaders and policy makers to meet, face to face, a new generation of African business leaders, who are transforming Africa’s economic trajectory.

The speakers will join founder of TEF, Mr Tony Elumelu, who doubles as Chairman of Heirs Holdings and the United Bank for Africa (UBA) Plc in an intimate open house discussion.

The Presidential Convening is a highlight of the forum, allowing the African entrepreneurs in attendance to closely engage with political leaders, to give first hand testimony of the important role government can play in catalysing growth and encouraging business ambition.

The event’s agenda includes masterclasses and panel discussions with leading speakers and sector experts, from Africa and globally, who will engage attendees in specialised training sessions to share insights, deepen their knowledge and refine their skills.

The forum will also feature a pitching event, where select entrepreneurs will deliver exciting presentations on the goods and services they provide to a distinguished judging panel.

For first time the forum will be hosted in Abuja, the Federal Capital of Nigeria and will bring together leading policymakers, business leaders, development agencies and the entire entrepreneurship ecosystem including alumni of the foundation’s entrepreneurship programme.

Last year, a significant highlight was the launch of TEFConnect, the digital networking platform for African entrepreneurs, which provides a unique digital hub for the African entrepreneurship, facilitating networking, mentorship and most importantly business beyond borders.

Previous editions have been headlined by African leaders, including President of Ghana, Mr Nana Akufo-Addo; President of Kenya, Mr Uhuru Kenyatta; former President of Nigeria, Mr Olusegun Obasanjo; former Prime Minister of Benin Republic and TEF Advisory Board Member, Mr Lionel Zinsou; Vice President of Nigeria, Mr Yemi Osinbajo.

The Tony Elumelu Foundation’s determination to bring change in scale, across Africa and its relentless focus on entrepreneurship is rooted in the inclusive philosophy of Africapitalism, created by its founder, which recognizes economically empowering Africa’s youth — the continent’s future wealth creators — and thereby creating sustainable economic and social wealth, as one of the most pressing issues of the 21st century.

In 2015, the foundation committed $100 million to empower 10,000 entrepreneurs from across the continent, over 10 years. Now in the 5th year, the foundation has funded, mentored and provided business management training to over 7,500 start-ups and small businesses, from all 54 countries in Africa.

“The TEF Entrepreneurship Forum will not just convene the most important stakeholders in the African entrepreneurship ecosystem, it provides an opportunity for everyone to make a commitment to advance entrepreneurship and scale the impact of our entrepreneurs if we are to accelerate the development of the continent,” TEF CEO, Ifeyinwa Ugochukwu said.

She added: “We are constantly inspired by the stories we receive from our entrepreneurs who are creating jobs, employing people and impacting their local communities and ultimately, the continent. We believe that these entrepreneurs are our future. Invest in them now and reap the Africa of our dreams tomorrow. This is what we are committed to.”

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Alison-Madueke Denies Wrong Doing as Prosecutors Present Evidence

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Diezani Alison-Madueke

By Adedapo Adesanya

Embattled former Nigerian Minister of Petroleum, Mrs Diezani Alison-Madueke, returned to court in London on Monday, denying wrongdoing as prosecutors presented evidence for an alleged bribery.

It was recently reported that Mrs Alison-Madueke, once president of the Organisation of the Petroleum Exporting Countries (OPEC), received cash and luxury benefits in exchange for influence over oil and gas contracts when she was a minister in the cabinet of former President Goodluck Jonathan.

She has denied the claims repeatedly.

In the latest development in her trial, jurors in the British court today heard testimony from a luxury furnishings retailer and a former housekeeper, as prosecutors sought to show how high-end purchases and property use were allegedly routed through intermediaries.

The 65-year-old is accused of multiple bribery counts stemming from a years-long investigation.

The alleged offences occurred between 2011 and 2015, when she was Nigeria’s oil minister but maintained a UK address.

The UK National Crime Agency (NCA), which targets international and serious and organised crime, accused her of receiving the bribes in Britain.

Mrs Alison-Madueke is accused of accepting “financial or other advantages” from individuals linked to the Atlantic Energy and SPOG Petrochemical groups.

Both companies secured contracts with the then Nigerian National Petroleum Corporation (NNPC) or its subsidiaries, according to the prosecution.

The former minister is also said to have received £100,000 ($137,000) in cash, chauffeur-driven cars, a private jet flight to Nigeria and refurbishment work and staff costs at several London properties.

Other counts allege she received school fees for her son, products from high-end shops such as London’s Harrods department store and Louis Vuitton, and further private jet flights.

Mrs Alison-Madueke has been involved in numerous legal cases globally, including in the United States.

She has been on bail in Britain since she was arrested in October 2015.

In 2023, she was formally charged with accepting bribes, which she has denied.

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Egbin Power Unveils Tech Empowerment Scheme for Youth Employability, Others

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Egbin Power Tech Empowerment Programme

By Modupe Gbadeyanka

An initiative designed to encourage entrepreneurship, expand access to opportunities in the digital economy, and improve the employability of young people in its host communities has been launched by Egbin Power Plc.

The tech-based empowerment programme will equip young persons from Egbin, Ijede and Ipakan areas of Lagos State with digital skills.

The chief executive of the power-generating firm, Mr Mokhtar Bounour, described the initiative as part of the company’s Personal Corporate Social Responsibility (PCSR) efforts, reflecting its commitment to inclusive and sustainable development, adding that its responsibilities extend beyond electricity generation to empowering people in surrounding communities.

“In today’s digital age, technology is no longer optional but a critical driver of economic inclusion and growth,” Mr Bounour said, noting that deliberate interventions were needed to bridge digital gaps and prevent uneven development.

He explained that when communities are excluded from the digital economy, development becomes uneven and unsustainable, reinforcing the need for deliberate interventions that bridge digital gaps.

He pointed out that, “The Empowerment Programme is designed to address this gap by providing young people in Egbin, Ijede and Ipakan with access to practical and in-demand digital skills that can improve employability, foster entrepreneurship, and create new economic opportunities within their communities.”

The first cohort brings together beneficiaries from the three communities for structured training in ICT fundamentals, graphic design, full-stack web development, digital marketing, cybersecurity and data analytics. The programme combines classroom instruction with hands-on learning.

Participants were selected through a screening process that assessed curiosity, determination and willingness to learn, the company said. Beyond technical training, the programme also includes workplace skills such as ethics, problem-solving, collaboration, professionalism and digital responsibility.

Mr Bounour urged beneficiaries to act as ambassadors of the initiative and demonstrate the values of integrity, discipline and service, saying their progress would serve as evidence that strategic corporate responsibility can deliver measurable impact.

He encouraged participants to recognise their broader responsibility to their communities, urging them to learn with character, pay their knowledge forward, mentor others, and use their skills to solve real local problems. He noted that the true legacy of the programme will be the ripple effects it creates through shared success and communal growth.

The launch of the Tech Empowerment Programme underscores Egbin Power’s continued commitment to sustainable community development, trust-building, and long-term value creation.

The company reaffirmed its dedication to investing strategically in people, strengthening host communities, and contributing meaningfully to Nigeria’s digital and economic future.

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NPA Working to Eliminate Manual Bottlenecks, Synchronise Operations Across Seaports

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Activities at Nigeria's Seaports

By Adedapo Adesanya

The managing director of the Nigerian Ports Authority (NPA), Mr Abubakar Dantsoho, has said the organisation is in collaboration with the International Maritime Organisation (IMO) to deploy the Port Community System (PCS) will eliminate manual bottlenecks and synchronise operations across Nigeria’s seaports.

Mr Dantsoho disclosed this at a recent three-day high-level stakeholder engagement in Lagos titled Achieving a 7-day Cargo Dwell Time, organised by the Presidential Enabling Business Environment Council (PEBEC) in collaboration with the NPA.

The engagement convened the Ports and Customs Efficiency Committee (PCEC) under the Business Environment Enhancement Programme Accelerator (BEEPA) framework, focusing on streamlining port processes to improve efficiency and ease of doing business.

According to the NPA boss, the PCS will serve as the digital backbone of the National Single Window, enabling seamless information exchange among port stakeholders and reducing delays caused by manual documentation.

On her part, the director-general of PEBEC, Mrs Zahrah Mustapha, said the session was designed to go beyond identifying challenges and focus on implementing long-overdue practical solutions.

“Nigeria loses significantly every day due to operational inefficiencies,” Mrs Mustapha said. “These are not just numbers; they represent missed opportunities, jobs not created, and delayed economic growth. This reform is about resilience and unlocking the nation’s economic potential.”

She added that the initiative brings together government regulators and private-sector stakeholders to promote transparency and accountability, with the ultimate objective of reducing cargo dwell time and improving vessel turnaround time.

Recall that the NPA recorded a 100 per cent success rate in PEBEC reforms, ranking fifth among government agencies in 2025 with an 84.2 per cent compliance rating.

Outcomes from the stakeholder engagement are expected to be implemented in the coming months. By addressing operational gaps identified during port inspections, the NPA and PEBEC aim to build a more competitive maritime environment that attracts investment and facilitates seamless trade.

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