‘Entrepreneurship is Many Years of Hard Work, Unquantifiable Sacrifices’ – Tony Elumelu

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Founder, Tony Elumelu Foundation

 


Nurture the mindset of longevity in all areas of your thinking. Embrace challenges; there is no success without sacrifices. Whether it is in your business, personal life, or relationships, you must show a strong commitment to your dreams.


Nigerian economist, entrepreneur, and philanthropist. Tony Elumelu has urged young entrepreneurs not to lose hope in achieving their dreams, as the world entered the third year of living through Covid-19.

Elumelu who is also the Chairman, United Bank for Africa said in his New Year message that the beginning can be scary and uncertain for most young people who are just starting out as small business owners, adding that entrepreneurship is years of hard work, long hours, and unquantifiable sacrifices.

“Their capacity to thrive and remain committed despite temporary setbacks will have a significant impact in realizing your dreams”, Elumelu said.

Narrating his own story and how he ventured into the world of opportunities, Elumelu said that he’s a product of luck, hard work, born in Africa, raised in Africa, studied in Africa, worked in Africa, and have achieved success in Africa.

Business success depends on mindset. This study of African entrepreneurs explains why | World Economic Forum

In his words, he pointed that young people must be disciplined if truly they want to achieve their goals, saying that they must choose discipline their daily practice.

“Nurture the mindset of longevity in all areas of your thinking. Embrace challenges; there is no success without sacrifices. Whether it is in your business, personal life, or relationships, you must show a strong commitment to your dreams”

In addition to being smart and technology savvy, he also mentioned that young people must refuse to follow the traditional paths that he and his contemporaries took in their days, where a lawyer was just a lawyer, who gradually and patiently climbed the career ladder, or a doctor was just a doctor or an engineer just an engineer.

“This generation is entrepreneurial and solutions-driven and so, they are applying their academic knowledge along with digital savvy to solve endemic social and economic issues.  Their businesses have improved the ease of cross-border payments, intra-Africa logistics, and even improved representation in new tech-driven sectors – it knows no boundaries”, he revealed.

In another development, he called them to apply for the Tony Elumelu Foundation Entrepreneurship Programme to receive $5,000 non-refundable seed capital, world-class business management training, mentorship, and access to key networks and markets.

“As a parent, one’s desire is for your children to do better and so we strive to provide the resources and materials that they need to ensure that they go far in life. Similarly, at the Foundation, we are equipping the next generation with the tools they need to succeed”, he stressed.

He further pointed that the Foundation is committed to the future of young people and the reason why they are committing more to it in the New Year.

Tony Elumelu Foundation Entrepreneurship Program 2022 for African Entrepreneurs | Opportunity Desk“In 2021, the Tony Elumelu Foundation received 406,257 applications from all 54 African countries and provided training to 206,550 – more than 50% of applicants. In 2021 alone, we disbursed USD$24.75m to 5,000 African entrepreneurs, demonstrating our mission to catalyse economic growth, drive poverty eradication and ensure job creation on the continent”, Elumelu explained.

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