The Tony Elumelu Foundation last week of November announced that it would grant a total of $16.8 million in non-refundable seed capital to 3,369 women in Africa, bringing its total foundation disbursement to $24.75 million in 2021 alone.
This was made known through an online statement by Tony Elumelu, Chairman of United Bank for Africa.(UBA) He revealed that the grant would be targeted at young women who would make up 68% of total candidates.
Elumelu revealed that, ”3,369 young women will each receive $5k non-returnable seed capital as part of the 2021 Tony Elumelu Foundation Entrepreneurship Programme.
“This is $16.8m non-refundable grant to young African women and makes up over 68% of the total candidates selected this year.”
He added that in 2021, the Tony Elumelu Foundation disbursement is $24.75 million to 5,000 African SMEs for #TEF2021 Programme.
It was reported earlier this year that the Tony Elumelu Foundation (TEF), Africa’s leading philanthropy empowering young African entrepreneurs from all 54 African countries, successfully trained over 200,000 entrepreneurs in core business management skills as part of its 2021 TEF Entrepreneurship Programme.
Early in Niovember, Mr. Elumelu disclosed that the Tony Elumelu Foundation had trained 1.5 million young Africans across the continent through the Tony Elemelu Entrepreneurship program which provides $5,000 non-refundable seed capital to those who are beneficiaries in Business training and mentorship for young entrepreneurs to scale their enterprises.
BUA POSITIONs FOR EFFICIENT ENERGY
This gas power plant will also be the third power plant to be commissioned by BUA from Wartsila as BUA Cement seeks to increase its total production capacity across all its locations to 17million metric tonnes by 2023.
Speaking at the signing ceremony, Abdul Samad Rabiu, Chairman of BUA, who signed on behalf of the cement producer said that BUA was committed to utilizing cleaner, more efficient energy sources for its cement operations rather than relying on coal or heavy fuels.
According to Rabiu, the 70MW gas-powered plant ordered by BUA for its Obu Line 3 cement plant will ensure that the company remains very efficient in its energy utilization in the cement production process.
“Currently we have phased out the use of coal across our factories and are shifting to gas powered plants. As we ramp up our capacity, there is need to complement it with efficient power supply and Wartsila’s technology has ben found to be durable and uniquely aligned with our vision for more efficient power generation at all our production locations.”
ASR Africa Boosts Ogun State Healthcare Systems With N2.5bn Grant
The Abdul Samad Rabiu Africa Initiaitive (ASR),and initiative of the chairman and founder of BUA Group, has awarded a 2.5 billion Naira ASR Africa Tertiary Healthcare Systems Supports grant towards the construction of a Mother &Child Hospital at the state-owned Olabisi Onabanjo University.
This N2.5billion grant, which was presented to the Ogun State Governor, Prince Dapo Abiodun at a ceremony in Abeokuta, was drawn from the $100million annual ASR Africa Fund for Social Development and Renewal.
Presenting the award letter for the “ASR Africa Mother & Child Hospital” to Governor Dapo Abiodun, Ubon Udoh, Managing Director, ASR Africa Initiative said the grant was part of efforts by Abdul Samad Rabiu, the founder and Executive Chairman of BUA Group to give back to Nigeria and the Africa continent. Udoh added that the state-focused Tertiary Healthcare Systems Support Grant was awarded to Ogun State and 3 others in 2021 in recognition of their current efforts in delivering quality healthcare services and infrastructure within those states.
According to Udoh, “The grant is part of efforts of the Chairman of the BUA Group Abdul Samad Rabiu to give back to the African Continent and make a lasting impact in sustainable development as a means of uplifting and restoring the dignity and lives of Africans.
Reacting, Governor Dapo Abiodun thanked the ASR Africa Initiative and its founder Abdul Samad Rabiu for their continuous support to the people of Ogun State and noted that his government remains focused on improving the socio-economic well-being of citizens especially around healthcare delivery.
The Governor said the ASR Africa Mother and Child Hospital will provide additional opportunities for the people to access medical care in the state reaffirming his administration’s commitment to put in place appropriate policies towards providing efficient and effective healthcare for the people.
Minister Affirms Govt’s Commitment To Cushion COVID-19 Effect On Economy
The Minister for Finance, Budget and National Planning, Dr. Mrs Zainab Shamsuna Ahmed, has affirmed commitment to grow Nigerian economy in spite of the COVID-19 pandemic and the dwindling revenue from oil.
The Minister for Finance made this position known through the Minister of State on budget and planning, Prince Clem Agba, during a three-day 4th National Workshop on ‘COVID-19 and the Global Economy: Implications on the Nigerian National Treasury’ which took place at Ibom Hall, Uyo, Akwa Ibom State.
The Minister of Finance while speaking lauded the Akwa Ibom State Ggvernor, Deacon Udom Emmanuell and the members of the State Executive Council for accepting to host the 4th National Treasury Workshop in the State.
She noted that the theme of the workshop was very apt and has effectively captured the mood of the nation, given the dwindling revenue profile of the country and the attendant challenges in the cash flow occasioned by the outbreak of COVID-19 pandemic.
“We have on ground strategy geared towards the expansion of Government’s activities to cushion the effect of the pandemic with the estimated stimulus package made available by the Federal Government of Nigeria in the tune of N2.3trillion”
“Knowing the enormity of the challenges posed by the pandemic therefore calls for prudent management of whatever fund that is available in the most accountable , efficient and transparent manner.