@BusinessDaily

Be patient for success, Nigeria tycoon urges local businesses

3 months ago, 16 Apr 17:40

By: Lynet Igadwah

Nigerian billionaire Tony Elumelu has asked Kenyan entrepreneurs to practise patience in their entrepreneurial journey to reap its full benefits. Mr Elumelu spoke during an interactive session at the University of Nairobi, where he encouraged students to focus on the long-term vision as opposed to dwelling on short-term challenges. “Think big, but beyond that, act on the ideas and think long-term. The journey would not be smooth but perseverance is key,” said Mr Elumelu who is United Bank of Africa (UBA) chairman. The key message during the session was that Africans should embrace technology and be faithful in transforming the continent through businesses that help end unemployment. Mr Elumelu founded the Tony Elumelu Foundation (TEF) in 2010 to spur African economic growth through empowering entrepreneurship. He committed a $100 million (Sh10 billion) to sponsor 10,000 African entrepreneurs over 10 years. This year, 74 Kenyan entrepreneurs were selected in the TEF Entrepreneurship Programme. They are among 1,000 individuals selected from 151,000 Africans in 114 countries worldwide. Kenya ranked third in the number of entrepreneurs selected for the fourth edition of the TEF Entrepreneurship Programme, after Nigeria and Uganda. This reflects last year’s ranking where a total of 55 Kenyan entrepreneurs made it to the list. Business ideas on agriculture topped other sectors in applications at 30.3  per cent followed by fashion at 12.7 per cent and commercial/retail at 8.1 per cent. This indicates the industries of interest for African start-ups.
Read More


Category: business news

Suggested

3 hours ago, 16:31
@BusinessDaily - By: Neville Otuki
World Bank appoints new Kenya director

Felipe Jaramillo's jurisdiction also covers Uganda, Rwanda and Eritrea ...

Category: business economy news markets corporate
2 hours ago, 17:28
@BusinessDaily - By: John Mutua
Kenya to double stake in Africa infrastructure fund

This will boost the investor’s funding capacity in infrastructural projects across Africa. ...

Category: business news
3 hours ago, 16:41
@BusinessDaily - By: Joseph Wangui
Betting operators sue govt over crackdown

Traders say there is no known law prohibiting operations of gaming slot machines. ...

Category: business opinion news
8 hours ago, 11:34
@BusinessDaily - By: Reuters
Ethiopian seeks to buy stake in Eritrean Airlines

Study to be conducted to determine the size of the stake. ...

Category: business corporate news lifestyle markets economy opinion
4 hours ago, 15:35
@StandardMedia - By: Moses Njagih
Kenya Railways managers fail to appear before House committee over SGR racism claims

Kenya Railways failed to appear before the National Assembly’s committee probing allegations of racial discrimination at the SGR ...

Category: business news
5 hours ago, 14:35
@CapitalFMNews - By: Correspondent
World Bank appoints Felipe Jaramillo as Director for Eritrea, Kenya, Rwanda and Uganda

NAIROBI, Kenya, Jul 19 - Felipe Jaramillo has been appointed as the new World Bank Country Director for Eritrea, Kenya, Rwanda and Uganda, effective July Kenya breaking news | Kenya news today | ...

Category: business finance

@BusinessDaily

Be patient for success, Nigeria tycoon urges local businesses

3 months ago, 16 Apr 17:40

By: Lynet Igadwah
Nigerian billionaire Tony Elumelu has asked Kenyan entrepreneurs to practise patience in their entrepreneurial journey to reap its full benefits. Mr Elumelu spoke during an interactive session at the University of Nairobi, where he encouraged students to focus on the long-term vision as opposed to dwelling on short-term challenges. “Think big, but beyond that, act on the ideas and think long-term. The journey would not be smooth but perseverance is key,” said Mr Elumelu who is United Bank of Africa (UBA) chairman. The key message during the session was that Africans should embrace technology and be faithful in transforming the continent through businesses that help end unemployment. Mr Elumelu founded the Tony Elumelu Foundation (TEF) in 2010 to spur African economic growth through empowering entrepreneurship. He committed a $100 million (Sh10 billion) to sponsor 10,000 African entrepreneurs over 10 years. This year, 74 Kenyan entrepreneurs were selected in the TEF Entrepreneurship Programme. They are among 1,000 individuals selected from 151,000 Africans in 114 countries worldwide. Kenya ranked third in the number of entrepreneurs selected for the fourth edition of the TEF Entrepreneurship Programme, after Nigeria and Uganda. This reflects last year’s ranking where a total of 55 Kenyan entrepreneurs made it to the list. Business ideas on agriculture topped other sectors in applications at 30.3  per cent followed by fashion at 12.7 per cent and commercial/retail at 8.1 per cent. This indicates the industries of interest for African start-ups.
Read More

Category: business news

Suggested

3 hours ago, 16:31
@BusinessDaily - By: Neville Otuki
World Bank appoints new Kenya director

Felipe Jaramillo's jurisdiction also covers Uganda, Rwanda and Eritrea ...

Category: business economy news markets corporate
2 hours ago, 17:28
@BusinessDaily - By: John Mutua
Kenya to double stake in Africa infrastructure fund

This will boost the investor’s funding capacity in infrastructural projects across Africa. ...

Category: business news
3 hours ago, 16:41
@BusinessDaily - By: Joseph Wangui
Betting operators sue govt over crackdown

Traders say there is no known law prohibiting operations of gaming slot machines. ...

Category: business opinion news
8 hours ago, 11:34
@BusinessDaily - By: Reuters
Ethiopian seeks to buy stake in Eritrean Airlines

Study to be conducted to determine the size of the stake. ...

Category: business corporate news lifestyle markets economy opinion
4 hours ago, 15:35
@StandardMedia - By: Moses Njagih
Kenya Railways managers fail to appear before House committee over SGR racism claims

Kenya Railways failed to appear before the National Assembly’s committee probing allegations of racial discrimination at the SGR ...

Category: business news
5 hours ago, 14:35
@CapitalFMNews - By: Correspondent
World Bank appoints Felipe Jaramillo as Director for Eritrea, Kenya, Rwanda and Uganda

NAIROBI, Kenya, Jul 19 - Felipe Jaramillo has been appointed as the new World Bank Country Director for Eritrea, Kenya, Rwanda and Uganda, effective July Kenya breaking news | Kenya news today | ...

Category: business finance
Our App