The foundations – John A. Kufuor Foundation, Kofi Annan Foundation, Olusegun Obasanjo Foundation, and the Thabo Mbeki Foundation – will use the grants received to support leadership and entrepreneurship programmes.
Elumelu’s foundation shares a common vision with the organisations it seeks to support. They all promote quality business leadership and entrepreneurship in a bid to drive competitiveness and transformation of the African economy.
It will provide the grant to support these foundations in building the next crop of business and political leaders.
CEO of the Tony Elumelu Foundation, Dr. Wiebe Boer in a statement released by the company said investing in these
foundations open a strategic opportunity to “support the work of exemplary African political leaders to equip the next generation” of thought leaders.
“Africa’s development relies on our ability to nurture a new generation of young leaders, as these African icons are already doing,” Founder, Tony Elumelu added.
Although the amount granted to these foundations was not revealed, the Tony Elumelu Foundation (TEF) makes impact investments that range from $50,000 to $500,000.
Nigeria’s former President, Olusegun Obasanjo – one of the foundation’s founder – noted that while both foundations have partnered on youth employment in Africa previously, the new collaboration will go a long way in equipping the next generation of African leaders.
“This grant promises a real opportunity for building long-standing partnership with similar foundations in Africa striving to empower our youth,” Former Ghanaian President, Mr John Kufuor further explained.
Former UN Secretary General and Founder of the Kofi Annan Foundation, Mr Kofi Annan said the grant will allow promising young African graduates to work and gain experience at his Foundation, on issues of direct relevance to African governance, peace and security.
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