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Tony Elumelu Foundation Hosts European Commission, Leading Development Finance Institutions and Think Tanks in Brussels
· Highlights the Relevance and Urgency to Support Entrepreneurial Led Economic Growth in Africa
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Tony Elumelu, CON engaging the distinguished audience at the convening on Africa’s economic transformation convened by the Tony Elumelu Foundation in Brussels on April 10, 2019
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L-R: Carl Michiels, Director, European Centre for Development Policy Management (ECDPM); Former Prime Minister of Benin, HE Lionel Zinsou; Bruno Wenn, Former CEO/Chairman at DEG-German Investment and Development Company, and Advisory Board Member, Tony Elumelu Foundation; Minister Phillippe De Backer, Minister for Digital Agenda, Telecommunications and Post; and Ifeyinwa Ugochukwu, CEO of the Tony Elumelu Foundation.
Brussels, Belgium, April 11, 2019— At a time when Europe’s relationship with Africa is high on foreign policy and developmental agendas and with the European Union beginning to deliver on its 2017 External Investment Plan, targeted at attracting investment and job creation in Africa, the Tony Elumelu Foundation brought together leading stakeholders in the development finance sector, at a case study session in the EU capital, Belgium. The convening demonstrated that Africa also had solutions to bring to the table and platformed the Foundation’s unique approach to catalysing entrepreneurship in scale across the continent.
Themed “A Convening on Africa’s Economic Transformation: A Case Study of the Tony Elumelu Foundation”, the event presented the results of the first five years of the Foundation’s Entrepreneurship Programme a unique programme, which has trained, mentored and seeded 4,470 African entrepreneurs with 3,050 newly announced to receive seed funding, and drawn over 200,000 applications to its 2019 cycle. Tony Elumelu’s $100m investment in entrepreneurial philanthropy was held up as an example of how vital capital could be targeted efficiently and effectively, at African businesses best able to create significant economic and developmental impact.
Opening the event, Mr. Koen Doens, Deputy Director General, DEVCO, EU, said: “Africa needs to create jobs by the millions to match the needs of its exponentially growing population. It will achieve this only if it unleashes a generation of empowered entrepreneurs. The Tony Elumelu Foundation contributes to this massively. The European Union wants to play its part and contribute to this endeavour.”
During an indepth question and answer session with EU-Africa relations expert, Annie Mutamba, Founder, Mr. Tony O. Elumelu CON, highlighted the growing interest in the Tony Elumelu Foundation and its unique approach, while welcoming a new type of intervention in Africa. “We very much believe in collaboration, mutual respect and a shared commitment to transform Africa. Africa is ready but we need to do this through the right sustainable manner, that enables our people to become self-reliant, and independent, instead of perpetuating dependency. We need to implement practical solutions on ground through entrepreneurship, which empower people economically and addresses issues of extremism, migration, and insecurity.”
Minister Phillippe De Backer, Minister for Digital Agenda, Telecommunications and Post, Belgium, also commented: “There is an increasing desire in Europe to engage Africa, including its grassroots in a structure and targeted approach with the right processes. The Tony Elumelu Foundation offers this platform.”
The Tony Elumelu Foundation, which last month in March announced 3,050 selected entrepreneurs for its 2019 cycle, continues to grow in scale, ambition and impact, and now actively leverages technology to support entrepreneurs through TEF Connect – a digital hub designed to link entrepreneurs across Africa, and which already has 500,000 users.
On the Foundation’s future plans, he stated: “We want to make sure that we impact more, reach more, touch more lives and get more women involved. We want to see more Northern Africa participation. We would like to reach 10,000 a year, with support from partners to empower additional entrepreneurs. We want to eradicate poverty and create wealth in a sustainable way. Ultimately, \we want a larger and broader entrepreneurship ecosystem, that supports young Africans, and we want to deepen our engagement with government to create the enabling environment to support these Africans to succeed – the right investment climate, training, education, access to capital and most importantly creating the right investment culture.”
Other dignitaries at the event included: Carl Michiels, Director, European Centre for Development Policy Management (ECDPM); Bruno Wenn, Former CEO/Chairman at DEG-German Investment and Development Company, and Advisory Board Member, Tony Elumelu Foundation; Mr Viwanou Gnanssougou, Assistant Secretary General, African, Caribbean and Pacific (ACP) at the European Council of the European Union, and Ifeyinwa Ugochukwu, CEO of the Tony Elumelu Foundation.
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Update : Road Crash: Anthony Joshua Hospitalised, Two Confirmed Dead — Ogun Police Spokesperson
Former heavyweight champion Anthony Joshua has been hospitalised after a road accident in the Makun area of the Lagos-Ibadan Expressway, Ogun State.
Ogun State Police Public Relations Officer, Babaseyi Oluseyi, confirmed this in a statement.
The incident occurred shortly after 11 am on Monday.
Our reporter, who was at the scene, said the crash happened just before the Danco Filling Station in Makun, ahead of the Sagamu Interchange on the Ibadan-bound axis.
Adeniyi Orojo stated that the Lexus Jeep carrying Joshua, with number plate KRD 850 HN, collided with a stationary truck.
The eyewitness revealed that Joshua sustained minor injuries, while two others died at the scene.
“It was a two-vehicle convoy: a Lexus SUV and a Pajero SUV. Joshua was seated behind the driver, with another person beside him. A passenger sat beside the driver, making four occupants in the Lexus that crashed.
His security detail followed in the vehicle behind.
“Other eyewitnesses and I began the rescue and flagged down oncoming vehicles for help. Minutes after the crash, Federal Road Safety Corps officials arrived. The passenger beside the driver and the person beside Joshua died on the spot,” he said.
In a statement sent to Newsthumb on Monday, Oluseyi confirmed that Joshua and other injured persons were involved in a car accident and rushed to an undisclosed hospital.
He said, “The Ogun State Police Command confirms a road accident today in front of Sinoma, before Danco, along the Lagos–Ibadan Expressway. Anthony Joshua and other injured persons have been rushed to the hospital.
“Further updates will be communicated.”
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Tinubu Leaves Nigeria for Europe, UAE to Attend ADSW 2026 Summit, Says Onanuga
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President Bola Ahmed Tinubu departed Lagos on Sunday, December 28, for Europe, continuing his end-of-year break and ahead of his official trip to Abu Dhabi, in the United Arab Emirates.
His Highness Sheikh Mohamed bin Zayed AlNahyan, President of the United Arab Emirates, has invited President Tinubu to participate in the 2026 edition of Abu Dhabi Sustainability Week (ADSW 2026) Summit, which will take place in the emirate early in January.
The weeklong summit is an annual event that mobilises leaders from government, business, and society to chart the next era of sustainable development.
With the theme “The Nexus of Next: All Systems Go”, ADSW will connect ambition with action across innovation, finance, and people, showcasing how the world can move forward with confidence.’
The President will return to the country after the Summit.
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BREAKING: Fayose Alleges N45.5bn from N50bn Ibadan Explosion Fund Diverted by Makinde for Political Ambitions
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Former Ekiti State Governor, Ayo Fayose, has released what he described as documentary evidence to support his claim that Oyo State Governor, Seyi Makinde, received N50 billion from the Federal Government as a special intervention fund following the January 2024 explosion in Ibadan.
Fayose made the documents public on Sunday in a statement accompanied by a memo from the Office of the Accountant-General of the Federation.
He said the disclosure followed a challenge by Makinde to substantiate his earlier claim that the Oyo State Government received the funds.
“Two days ago, I stated on national television that Oyo State under Governor Seyi Makinde received N50bn from the Federal Government as intervention for the Ibadan explosion. Yesterday, the governor asked me to provide evidence, and here is the evidence he requested,” Fayose said.
The former governor further alleged that only N4.5 billion was disbursed to victims of the explosion, accusing Makinde of diverting the remaining funds for personal political ambitions.
“Only N4.5bn was paid to victims of the Ibadan explosion. The rest, alongside other intervention funds, was diverted to fund his presidential ambition. This, in part, explains the crisis in the PDP and his frequent attacks on President Bola Ahmed Tinubu and his administration,” he alleged.
Fayose further said he was compelled to release official documents, despite his reluctance to do so, in the interest of transparency and public accountability.
“Even though it is not in my character to go public with official government documents, I had to do this so Nigerians will know who is saying the truth and who has not been sincere with the people of Oyo State,” he said.
The former governor said that Makinde’s alleged disclosure of detail from private meeting with President Tinubu made fuller public disclosure necessary.
He challenged the governor to take legal action if he believed the allegations were false, insisting that he had sufficient proof to defend his claims.
“I challenge Governor Seyi Makinde to sue me on this. There are also proofs of other intervention funds received from Tinubu’s administration by the Oyo State Government which the governor refused to disclose to the people,” he said.
He further claimed to have documentary evidence of Oyo State’s actual Internally Generated Revenue, contrary to figures publicly stated by Makinde, noting that he would release the details at a later time.
“There are documentary evidences on the actual Internally Generated Revenue (IGR) of Oyo State, as against Governor Makinde’s claim, but we will keep our gunpowder dry for now.
“My name is still Ayo Fayose. I don’t say what I can’t prove,” he said.
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