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Tony Elumelu Foundation 2019 Selection Update

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tony elumelu foundation

The 2019 Tony Elumelu Foundation unfailing is ongoing and during this time over 3000 entrepreneurs will be selected

The event which has the presence of many entrepreneurs and political representatives from many states within Nigeria and the founder of the foundation, Tony Elumelu

Over 3,000 applicants have been selected for the 2019 cohort of the Foundation’s flagship Entrepreneurship Programme.

In a details release by the media representatives for the foundation, it says 58% are male while the remainder is the opposite gender while over 200,000 applications were received.

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Selecting the eligibility of the applicants it sorts the application with available market opportunity, scalability, leadership skill, feasibility and viability of the idea.

Details later…

 

 

Tony Elumelu Foundation (TEF) shortlists 3,050 successful applicants for the 2019 cohort of the Foundation’s flagship Entrepreneurship Programme.
The 3,050 successful applicants for the 2019 TEF cohort represents 58% male, 42% female.
Some of the parameters used in selecting applicants include feasibility, market opportunity, scalability, leadership skill and viability of the idea.
The 2019 cohort selection tripled because of partnership from corporate organisations and government.
The Tony Elumelu Foundation (TEF), an African philanthropy committed to empowering entrepreneurs, has selected over 3,000 applicants for the 2019 cohort of the Foundation’s flagship Entrepreneurship Programme.

The announcement was made at the ongoing TEFSelection – Meet the 2019 Tony Elumelu Entrepreneurs in Abuja on Friday.

3,050 applicants were selected out of the 216,000 submitted applications representing 58% male, 42% female. Some of the parameters used in selecting shortlisted applicants include feasibility, market opportunity, scalability, leadership skill and viability of the idea.

According to TEF, the 2019 cohort selection tripled because of partnership from corporate organisations and government.

Africa Development Bank is sponsoring 1,000 entrepreneurs, International Committee of the Red Cross (ICRC) is sponsoring 180 entrepreneurs, the Republic of Benin will empower 5 citizens with $200,000, Government of Botswana is sponsoring 20 entrepreneurs, Anambra in Nigeria is sponsoring 15 entrepreneurs from the state while US Consulate is sponsoring 20 entrepreneurs.

Every year, the foundation opens its application portal to African entrepreneurs, with businesses of less than three years old. Through its $100 million Entrepreneurship Programme, the Foundation empowers 1,000 entrepreneurs annually, who receive $5,000 in non-refundable seed capital, access to mentors, a 12-week training programme and opportunities to promote their businesses to a global audience.

Tony Elumelu Foundation Alumni
Tony Elumelu Foundation Alumni
All applicants receive access to TEFConnect, Africa’s digital entrepreneurial hub, which provides access to networks, training, further capital sources and business opportunities.

As a means of cascading its proven entrepreneurial tool kit to the huge numbers of applicants, the Foundation launched in 2018, TEFConnect, the digital networking platform for African entrepreneurs. The platform, which has currently over 400,000 users, providing opportunities for entrepreneurs to network, receive training and forge business partnerships to scale their businesses beyond physical borders.

TEF board during the selection announcement at Transcorp Hilton Hotel, Abuja on Friday, March 22, 2019
TEF board during the selection announcement at Transcorp Hilton Hotel, Abuja on Friday, March 22, 2019
As a means of cascading its proven entrepreneurial tool kit to the huge numbers of applicants, the Foundation launched in 2018, TEFConnect, the digital networking platform for African entrepreneurs. The platform, which has currently over 400,000 users, providing opportunities for entrepreneurs to network, receive training and forge business partnerships to scale their businesses beyond physical borders.

In the last four years, the Foundation has empowered 4,000 African entrepreneurs directly and an additional 470 entrepreneurs supported by the Foundation’s partners.

The shortlisted applicants will be available via TEF website soon.

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Business

MTN Nigeria: See names of real owners as it goes public

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MTN Nigeria

MTN Nigeria has gone public on Thursday  and therefore the company is under the oversight of those  looking to invest. All its progress  will now be subject to the Nigerian Stock Exchange’s legal and regulatory laws.

In track with the above, the media has a responsibility to track at each and every stage in its administrative history how open or opaque a public company is.

The Cable acquired the investor list, that now owns billions in the Nigerian Stock Exchange’s second most important company. Even though MTN Nigeria is still dominated by MTN Group, the parent country, in the mobile operator, some prominent Nigerians hold billions.

Here is the Full List of the Shareholders.

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Company owners

ShareholderValue (NGN)Hold
MTN Nigeria1.68 Trillion76%
STANBIC IBTC213.7 Billion9.64%
Mobile Telephone Network60.95 Billion2.75%
Gov. Employees Pension Fund38.69 Billion1.75%

Personal Owners

ShareholderValue (NGN)Hold
Victor Odili87.87 Billion3.96%
Pascal Dozie37.07 Billion1.67%
Sani Mohammed Bello28.87 Billion1.30%
Babatunde Folawiyo23.83 Billion1.08%
Gbenga Oyebode19.80 Billion0.89%
Ahmed Dazuki19.35 Billion0.87%
Karl Olutokun Toriola100.1 Million0.005%
TOTAL2.22 Trillion100%
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A Good time to Invest in Cryptocurrency? as Bitcoin drops by 10% in 2 hours.

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Bitcoin Cryptocurrency price in Nigeria Naira #

Bitcoin is at the fore front when it comes to Cryptocurrency. It started out in 2009 as a peer to peer distributed banking network.

Bitcoin slowly gain popularity within the years as people saw the importance of a decentralized network i.e. a network controlled by the people with the elimination of middlemen interference.

After 2 years of operation, 1 BTC was equivalent to $31 which quickly dropped down to $2 after six months showing how volatile the Cryptocurrency market was.

By April 2013, the virtual coin has risen to $266 which rose steadily to $1000 in January 2014.

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The Unstable rise and fall continued until December 2017 when Bitcoin rose to an all time high of about $20,000 for 1 BTC.

Currently, 1 Bitcoin goes for $7100 which is N2.6 Million.

Here is a live Update of the BTC coin

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Although, the market is great for investment opportunity, there is need for Investors to be cautious due to the volatility of Cryptocurrency.

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