Elumelu Charges African Leaders On SMEs

A philanthropist and Chairman, United Bank of Africa (UBA), Mr Tony Elumelu, has called on African leaders to create the enabling environment for the Small and Medium Enterprises (SMEs) to thrive.
Elumelu made this call at the 2017 Tony Elumelu Foundation (TEF), African Journalism Fellowship and 3rd Annual TEF Entrepreneurship Forum on Saturday in Lagos.
He said that the provision of the needed enabling environment by African leaders would enhance the growth of entrepreneurs and their businesses.
Elumelu said that SMEs, which is the livewire in any economy, would help government to create the needed jobs with the right operating environment.
“Entrepreneurship will not grow if the environment is not good; our people are tired of being poor, we have all the resources to change the fortunes of our people for good.
“Our leaders should help us to create the right enabling environment to support the growth of entrepreneurs,’’ he said.
Elumelu, the founder of Tony Elumelu Foundation (TEF), said that he looked forward to a future of Africa, where poverty would be eradicated and real growth would surface.
He added that Africa needed more investments, capital and agents for growth and development.
“We need to touch Africa more to help it develop through investments, investment in our people,’’ Elumelu said.
He said that Nigeria was beginning to improve and so urged government authorities to engage the youth so as to eradicate poverty.
Elumelu said that the foundation had committed the sum of 100 million dollars  for the empowerment of 10,000 African entrepreneurs in a decade.
The foundation’s long-term investment in empowering African entrepreneurs demonstrates Elumelu’s philosophy of African capitalism, which positions Africa’s private sector, as catalysts for social and economic development.