Enterprise Issues
With Siaka Momoh
The Tony Elumelu Foundation (TEF) is a poor uplifting programme.It is the leading philanthropy empowering a new generation of African entrepreneurs, driving poverty eradication, catalyzing job creation across all 54 African countries, and ensuring inclusive economic empowerment.
Since the launch of the TEF Entrepreneurship Programme in 2015, the Foundation has trained over 1.5 million young Africans on its digital hub, TEFconnect, and disbursed nearly USD$100 million in direct funding to 18,000 African women and men, who have collectively created over 400,000 direct and indirect jobs. The Foundation’s mission is rooted in Africapitalism, which positions the private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the African continent.
Yours sincerely brings you today, the success stories of two TEF alumni. There are more which will be offered you on these pages in future.
Success Story of Olanrewaju, 2017 TEF Alumni
On July 17,2024
Lack of storage facilities is one of the problems facing farmers and the distributors of agricultural produce. It is estimated that 40% of total food production in Nigeria is loss during and after harvest.
Olanrewaju Samuel Faleye took the initiative to contribute to solving the problem of the spice and confectionaries segment of agricultural products.
“I made the decision to become an entrepreneur to develop a solution that will reduce post-harvest loss, increase income of small holder farmers, increase access to quality foods at affordable prices and create employment.”
He started his production of sachet powdered pepper, earning an average of $100 monthly with only himself as the employee. From the support he got through the TEF program with seed capital, he currently has 30 direct staff and over 80 distributors for his product across several zones in Nigeria. He sells an average of 240,000 sachets of his product monthly with an average earning of $6000. He has improved the livelihood of more than 20 small-scale pepper farmers, providing empowerment interventions for women in his society.
“The Seed Capital, training and Mentoring has made all the difference in my life. I have also leveraged on TEF Platform for networking and to grow my business.”
Olarenwaju has participated in the 7th International Trade Fair for Agriculture in 2022, Participated in the Nourishing for Africa Entrepreneurship Program in 2021, Participated in Global Entrepreneurship Training supported by UNESCO in 2019, and also Participated in the International Breweries PLC kickstart Foundation Program in 2018.
In Summary
Through innovation, determination, and strategic support from various entrepreneurship initiatives, Olanrewaju Samuel Faleye has not only built a successful business but has also made significant strides in combating post-harvest losses and empowering local farmers. His story underscores the transformative impact of targeted interventions in addressing key challenges within Nigeria’s agricultural sector.
By focusing on solutions like sachet powdered pepper and leveraging entrepreneurial programs, Olanrewaju exemplifies how individuals can drive positive change in their communities while building sustainable businesses.
This African success story highlights the importance of addressing post-harvest loss issues and showcases a tangible example of entrepreneurial success in Nigeria’s agricultural sector.
2019 TEF Alumni, Gladys Chibanda – Handmade Ankara Crafts Expert (February 2, 2024)
Funding for Ankara Crafts in Zimbabwe: Textiles and clothing are a fundamental part of everyday life and an important sector in the global economy. The production of cotton accounts for almost 7% of all employment in some low-income countries. Although today’s biggest textile-producing countries are China and India, “made in Africa” is gaining traction. Many brands are moving their production from Asian to African countries.
The demand for African designs, textiles, and garments is increasing within and beyond the continent. Currently, in sub-Saharan Africa, the combined apparel and footwear market is estimated at USD 31 billion. The textile industry in Africa is estimated to grow at a CAGR (Compound Annual Growth Rate) of ~5% over the forecast period of 2019–2024.
Identifying this problem
Gladys is a young award-winning creative entrepreneur who is well known for her bespoke, eco-friendly, handmade Ankara notebooks and gift set. She has managed to use her love for art in an extraordinary way. In her quest to challenge the status quo, fighting against discrimination and stigma, Gladys successfully elevated the crafts industry, proving that it is a viable industry and that the craft business can be a profession. Having been raised in an entrepreneurial family, she implemented her experience and knowledge by starting her own business. She used her artistic abilities to develop a firebrand called Krafted Ink, innovative art and craft-oriented organization.
Specializing in African textile journals and gift packaging, mastered the art of combining colors in making gift packaging to ensure lasting smiles in the lives of people. The handmade products include journals, diaries, gift bags, and gift boxes using African print fabric. Gladys started her journey at the age of 21 out of her desire to uphold the African ideals of sharing presents. She has been crafting memories ever since.
Gladys achieved this feat thanks to the TEF program, which helped in achieving her dreams as an entrepreneur.
“Without the Tony Elumelu Foundation Programme, there was no way, not a chance that my business idea was going to take off. The program not only helped the business plan, but it also put me through how to evaluate customer acquisitions, and the business canvas helped me to break down where I was going to get resources…”
