TOE’s Annual Letter to African Entrepreneurs

Dear African entrepreneur

2022 was not an easy year.

We survived the pandemic, but none of us were affected by world events. Prices have risen horribly, the cost of doing business has risen, customers are under pressure, we’d all be forgiven for giving up, putting down our entrepreneurial dreams, maybe taking the easy way out. .

But I know you can withstand challenges, take the long view, show the resilience we all inherit from being born in Africa. I know you are still standing strong. You should be proud, I am proud of you. Resilience is that fiery passion that makes you never give up.

I’ve learned a few lessons that were critical to my success, and I think you’ll find them useful in your journey:

do not be scared Press the envelope. Did the harsh environment hold me back? No, on the contrary, now is the time to challenge your plans, go a little further, stay the course. We took a big step in the foundation. For the first time, my team and I traveled to the Democratic Republic of Congo to announce the selection of African entrepreneurs who have successfully met all the requirements to complete the Tony Elumelu Foundation Entrepreneurship Program 2022.

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We wanted to show that we are truly African, to highlight the role that governments and policy makers have to play in sharing and actually lightening your burden. We will increasingly work with African governments to promote entrepreneurship in their countries.

Refunds! I was born in Africa, raised in Africa, educated in Africa, worked in Africa and succeeded in Africa. Beyond business success, always look for ways to not only give back, but also empower the generation that comes after us to go even further than us. It can be big or small, as simple as giving advice, becoming a mentor, broadcasting your success – yes broadcasting, we need more African leading lights, share your experience, let your voice be heard.

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Hyde’s continuation To define success in your opinion. At the Tony Elumelu Foundation, we have created an institution with a single focus: young African entrepreneurs. Twelve years ago, we knew that equipping young people with the tools and opportunities to succeed was the only sustainable and dignified way to create a path to prosperity for all. Substituting manuscripts for self-reliance and philanthropic advancement of the 21st century.

Get your chance! I am the product of luck and effort. I know firsthand that these factors are inseparable if you want to succeed. Entrepreneurship is years of hard work, long hours and immeasurable sacrifices. Your capacity to thrive and stay committed, despite temporary setbacks, will have a significant impact on making your dreams come true.

The new year offers a clean slate – whether it’s in your business, personal life or relationships. This is your chance to set goals, commit to them, and prepare your mind for the discipline needed to grow and succeed. That is why on the first day of 2023, we are once again opening the application portal for the 2023 Tony Elumelu Foundation Entrepreneurship Program at!

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All aspiring entrepreneurs from all 54 African countries are encouraged to apply for the opportunity of a lifetime, to receive $5,000 in non-refundable seed capital, world-class business management training, mentoring and access to key networks and markets.

Opportunities do not always come twice. If you miss it the first time, you might as well miss it forever. I encourage you to take the first step and apply at

Let us all look forward to a fruitful year before achieving all our goals.


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