President Jonathan commends Tony Elumelu Foundation

Press Release

 The President of the Federal Republic of Nigeria Dr. Goodluck Ebele Jonathan has pledged government support and collaboration with The Tony Elumelu Foundation (TEF) in private sector initiatives aimed at boosting employment generation; increasing national competitiveness, encouraging social giving and facilitating access to finance.

President Jonathan made the pledge when he hosted Founder Tony Elumelu and the TEF Advisory Board in Abuja on Thursday stating that relevant government institutions will be asked to work with the foundation in these areas.

The Advisory Board members who accompanied Elumelu when he paid a courtesy call on the President included Teresa Clarke, Founder and CEO of Africa.com, who previously served as a Managing Director in the investment banking division of Goldman Sachs & Co. and H.E. Shaukat Aziz, Former Prime Minister of Pakistan and Former Executive Vice President of Citigroup.

“We are impressed by the Foundation’s ideas and are here to help nurture it” said Aziz.

Other members of the Advisory Board in attendance were Stewart J. Paperin, Executive Vice President of the Open Society Foundations and President of the Economic Development Fund, one of the world’s largest and most innovative social investment funds, Henrik Skovby, founding Global Managing Partner of Dalberg, a specialist strategy consulting firm focused on economic development and TEF Trustee Alex Trotter, Director of Fulcrum Asset Management and portfolio manager of their African investment funds.

President Jonathan complemented the Foundation for attracting such a high calibre of people to serve as Advisory Board members and thanked them for their commitment. He assured the Advisory Board that his government will continue to support catalytic initiatives like those outlined by The Tony Elumelu Foundation because of the profound impact they have on the people and the country.

Tony Elumelu congratulated the President on his reelection and stated “We can work with government in these areas to help it deliver on its strategic intent in the next four years,” said Tony Elumelu as he urged the President to look into boosting private sector development and the concept of social giving in Nigeria by increasing national competitiveness, generating employment through the concept of global outsourcing, encouraging the spirit of giving through tax incentives and financial inclusion with the adoption of a payroll deduction code.

MR TONY ELUMELU IN A HANDSHAKE WITH PRESIDENT GOODLUCK JONATHAN AS ADVISORY BOARD MEMBERS OF THE FOUNDATION, FORMER PRIME MINISTER OF PAKISTAN, H.E. SHAUKAT AZIZ (R) AND HENRIK SKOVBY

In his remarks during the meeting, the Foundation CEO, Jos born Dr. Wiebe Boer said “The Foundation is committed to unlocking the potential of the next generation of business leaders and entrepreneurs in this country to ensure a brighter future for all Nigerians.”

The Tony Elumelu Foundation is unique on the continent. It is African-based and uses African capital to drive transformations that reaches across international borders. Unlike most philanthropies, the Foundation sees grants as only one of a set of effective philanthropic tools and believes impact investing can be a more sustainable means of capitalization because of the entrepreneurial rigor that comes with requiring a financial return.

About The Tony Elumelu Foundation The Tony Elumelu Foundation is an African based and funded not-for-profit institution, dedicated to the promotion and celebration of excellence in business leadership and entrepreneurship across Africa. As a 21st century catalytic philanthropy, the Foundation is committed to driving the continent’s economic growth from within by proving the African private sector can itself be the primary generator of economic development.

Founded in 2010 by Tony O. Elumelu, MFR, the Foundation identifies and grooms business students, young entrepreneurs and CEOs of African corporations at various stages of their development. It seeks to use African capital and leadership to create a pipeline of entrepreneurs, while also supporting imaginative business leaders whose ideas can create sustainable employment and foster regional partnerships.