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4th Tony Elumelu Foundation Entrepreneurship Forum Holds October

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Africa’s leading entrepreneurship-focused philanthropic organisation, the Tony Elumelu Foundation (TEF), has announced October 25, 2018, as the date for its 4thannual TEF Entrepreneurship Forum.

 

The largest gathering of African entrepreneurs and the broader entrepreneurship ecosystem will unite over 5,000 entrepreneurs, global investors, leaders from the African public and private sectors and developmental organisations at the Federal Palace Hotel, Lagos.

 

The event is a unique opportunity to generate ideas, forge networks and bring policymakers and the private sector together, in a spirit of robust debate and interaction.

 

The 2018 cohort from the Tony Elumelu Entrepreneurship Programme, as well as mentors and partners, will be present, as the culmination of their intensive twelve-week induction.

 

In keeping with the Foundation’s track record―most recently with President Macron of France―of bringing politicians face to face with the new generation of young business women and men shaping Africa, the Forum will include an interactive session with President Uhuru Kenyatta of Kenya and President Nana Akufo-Addo of Ghana, moderated by TEF Founder, Tony O. Elumelu.

 

The Forum will also feature the launch of the TEFConnect, the world’s largest digital platform for African entrepreneurs, dedicated to connecting African entrepreneurs and the entrepreneurship ecosystem.

 

Tony O. Elumelu, founder, stated: “In just four years, we have directly impacted 4,460 entrepreneurs, and we are beginning to see the results – job creation, ripple effects, but most importantly a recognition that Africa’s economic well-being is driven by entrepreneurs: female and male, large and small – they are the engine of our continent’s transformation. We will be championing and celebrating them. This year, we are truly achieving scale and impact; we received over 150,000 applications in 2017 alone, up from 20,000 applications in 2015. We are now calling on the current generation of African success stories and others to partner with us to see how we can all further create impact, genuinely transform millions of lives and increase the number of inspiring stories we will be hearing in Lagos”.

 

Parminder Vir OBE, TEF CEO, stated: “The TEF Entrepreneurship Forum is the only event across the continent that brings together the complete African entrepreneurship ecosystem, demonstrating our commitment to capturing the whole continuum – from the entrepreneurs themselves, governments who must provide enabling environments, to capital, advice and perhaps most importantly access and network”.

 

Inspired by Tony Elumelu’s economic philosophy of Africapitalism and his vision to institutionalise luck and democratise opportunity for a new generation of African entrepreneurs, the Tony Elumelu Foundation has implemented one of the most ambitious entrepreneurship programmes globally.

 

The Programme is a 10-year, $100 million commitment to identify, train, mentor, and fund 10,000 entrepreneurs. Its goal is to invest in businesses that will generate at least 1,000,000 new jobs and contribute at least $10 billion in new annual revenues across Africa.

 

In its 4th year, TEF Entrepreneurship Programme has empowered 4,460 entrepreneurs with a total investment of USD20million; 4,000 funded directly by the Foundation and 460 have been funded by partners.

 

 

 

 

 

 


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Students Loans’ Beneficiaries to Start Repayment 2 Years after Graduation-  NELFUND:

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Nigerian Education Loan Fund (NELFUND) has said that students in tertiary institutions and approved vocational centres would start repayment of the loan two years after graduation.

Students Loans’ Beneficiaries to Start Repayment 2 Years after Graduation-  NELFUND:

However, NELFUND management specifically stated that the repayment of the loan would commence if the students secured a job or went into business.

Mr. Akintunde Sawyerr, managing director, NELFUND, said the Act specify a moratorium of two years after graduation for the students to begin repayment of the loan.

Sawyerr said if the students start work, his employer would be expected to remit 10 percent into NELFUND dedicated account.

He added: “The loan does not have a specified repayment tenure. It makes it easy for students to apply for the loan. NELFUND would pay according to the documents provided by the institutions. We cannot put tenure on the loan; some will die, drop out, ‘Japa’ or refuse to pay. While those who went into business would pay into same account.

“It is a revolving a loan. We will not put students under pressure to get the loan and we are not going to state a tenure because it is not a commercial loan.’’

According to him, the loan is meant for students in public universities, polytechnics, colleges of education and vocational institutes, who apply via NELFUND portal and are expected to present their JAMB admission letter, NIN and BVN.

He explained that non-students would not have access to the loan and that NELFUND has put the necessary machinery in place to ensure that beneficiaries can be reached when the need arises.

His words: “We are using technology to run the new system. The process of application is online through our dedicated portal and we are limiting human contact as much as possible. Once you have a Bank Verification Number (BVN) and National Identification Number (NIN), which are parts of the requirements, we will have access to your data and all your accounts. This will also help us to know if you are qualified or not,” Sawyerr stated.

The MD disclosed that students already in institution are eligible to apply for the loan at any level of their study and must be at the beginning of each academic session.

He noted that such students would have to provide their admission and matriculation details in addition to BVN and NIN.

Sawyerr added that about 1.2 million Nigerian students in tertiary institutions and government-recognized vocational centres would be among the first batch of beneficiaries and that the figure would increase as time goes on.

The NELFUND boss disclosed that the scheme would be funded from one per cent of the total annual revenue by the Federal Inland Revenue Service (FIRS), which would amount to N194 billion if the agency meets its projection.

Sawyerr observed that the loan would be paid in two segments, the first, being the school fees, which would be paid directly to the institutions while stipend would be paid into students’ account for their day-to-day upkeep.

He added that the amount individual students would access varies because of the course of study, school fees and geographical location of the institutions.

“You don’t start paying back the loan until two years after your National Youth Service Corps (NYSC) scheme and you have secured a job or business. A beneficiary can defer repayment if he has not secured a job, but if after due diligence, he/she defaulted, then the student becomes a criminal and we will work with government agency that can help us get the money back, for example, EFCC, ICPC,” Sawyerr stated.


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GPA Raises Alarm, Says Malaria Vaccine Can Cause Meningitis

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Global Prolife Alliance (GPA), global health organization, has told the National Assembly that the intended malaria vaccine currently proposed by Bill Gates, American billionaire, for Nigeria can trigger meningitis in the populace.

GPA Raises Alarm, Says Malaria Vaccine Can Cause Meningitis

Dr. Philip Njemanze, chairman of GPA, gave the warning in a statement released to newsmen in Owerri, the Imo state capital.

Njemanze, known for being pro-health in the Catholic church, charged the national assembly not to be in a hurry to succumb to the pressure of the bill currently before the house.

He said the vaccine may trigger the deaths of millions of Nigerian children prone to cerebral meningitis, especially in the northern part of the country.

Part of the letter read “Among the side effects is a tenfold increase in cerebral meningitis. Nigeria is endemic for cerebral meningitis. A tenfold increase could cause the deaths of millions of children, especially in northern Nigeria.

“Please intervene and call for a public hearing, for an open public discussion on the pros and cons with expert opinions from both sides. This will help the Nigerian people to be better informed about granting or withholding consent for the vaccination.

“Your intervention could save millions of lives, especially in northern Nigeria, where meningitis is most endemic, particularly at this time of serious insecurity,” Njemanze warned.

 

 


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NERC Cedes Regulatory Oversight of Enugu Electricity Market to State Government Agency

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The Nigerian Electricity Regulatory Commission (NERC) has ceded the regulatory oversight of the Enugu electricity market to the Enugu Electricity Regulatory Commission (EERC), which is owned by the state government with effect from May 1, 2024.

This is the first-ever transfer of regulatory powers from the NERC to a state government electricity regulator.

“On completion of the Transfers under subsections (2) and (3), whichever occurs later in time, the Commission shall have no further regulatory responsibility whatsoever for electricity market activities carried on entirely within the State to which regulatory responsibility has been transferred and for which the Additional Successor Company has been incorporated and conferred with assets, liabilities, employees, rights and obligations,” NERC said in a statement signed by Sanusi Garba and Dafe Akpeneye.


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