@BusinessDaily

Be patient for success, Nigeria tycoon urges local businesses

5 days ago, 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

2 hours ago, 00:15
@StandardMedia - By: James Wanzala
Milk processor records increased intake on better prices

Milk supply to processor Brookside Dairy has increased by nearly 30 per cent in the past week following an upward adjustment of producer prices ...

Category: business news
9 hours ago, 16:24
@StandardMedia - By: Fredrick Obura
Bank suspends mobile, Internet banking

Safaricom’s constant system upgrade has hit hard bank customers who rely on their phones for money transaction. ...

Category: business news
10 hours ago, 16:13
@StandardMedia - By: Dpps
DP Ruto launches poultry auction at Kambi Kuku

DP Ruto returns to Kambi Kuku where he earned the name hustler, raises Sh6m from first poultry auction ...

Category: business news
11 hours ago, 14:40
@StandardMedia - By: Fredrick Obura
Why billionaire Elumelu is interested in youths

Africa’s billionaire Tony Elumelu has challenged the government to provide enabling environment to help youths realise their business dreams. ...

Category: business news
14 hours ago, 11:27
@BusinessDaily - By: James Ngunjiri
Kobia wants varsity bridging course for NYS

Treasury willing to incorporate the CAMS qualification within its training programmes ...

Category: business news economy markets lifestyle opinion
10 hours ago, 16:08
@StandardMedia - By: Dpps
DP Ruto launches poultry auction at Kambi Kuku

DP Ruto returns to Kambi Kuku where he earned the name hustler, raises Sh6m from first poultry auction ...

Category: business news

@BusinessDaily

Be patient for success, Nigeria tycoon urges local businesses

5 days ago, 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

2 hours ago, 00:15
@StandardMedia - By: James Wanzala
Milk processor records increased intake on better prices

Milk supply to processor Brookside Dairy has increased by nearly 30 per cent in the past week following an upward adjustment of producer prices ...

Category: business news
9 hours ago, 16:24
@StandardMedia - By: Fredrick Obura
Bank suspends mobile, Internet banking

Safaricom’s constant system upgrade has hit hard bank customers who rely on their phones for money transaction. ...

Category: business news
10 hours ago, 16:13
@StandardMedia - By: Dpps
DP Ruto launches poultry auction at Kambi Kuku

DP Ruto returns to Kambi Kuku where he earned the name hustler, raises Sh6m from first poultry auction ...

Category: business news
11 hours ago, 14:40
@StandardMedia - By: Fredrick Obura
Why billionaire Elumelu is interested in youths

Africa’s billionaire Tony Elumelu has challenged the government to provide enabling environment to help youths realise their business dreams. ...

Category: business news
14 hours ago, 11:27
@BusinessDaily - By: James Ngunjiri
Kobia wants varsity bridging course for NYS

Treasury willing to incorporate the CAMS qualification within its training programmes ...

Category: business news economy markets lifestyle opinion
10 hours ago, 16:08
@StandardMedia - By: Dpps
DP Ruto launches poultry auction at Kambi Kuku

DP Ruto returns to Kambi Kuku where he earned the name hustler, raises Sh6m from first poultry auction ...

Category: business news
Our App