Why digital skills are important for Africa's entrepreneurs - Tony Elumelu

The Tony Elumelu Foundation has been at the forefront of supporting young African entrepreneurs, with a commitment to selecting 1,000 beneficiaries every year for a total of 10,000 entrepreneurs. This initiative represents a significant investment of a hundred million dollars into African communities. Of these beneficiaries, 25% are in the field of Information and Communication Technology (ICT), showcasing a clear dedication to nurturing digital innovation in the continent. The foundation's founder, Tony Elumelu, believes that empowering entrepreneurs with great ideas in the ICT sector can be transformative for Africa. He emphasizes the importance of recognizing the human element in the digital transformation of economies. By providing a networking platform and opportunities for young entrepreneurs, especially in the ICT space, the foundation aims to drive global influence and create a thriving ecosystem for digital businesses. Elumelu's vision extends beyond individual success stories to catalyzing the emergence of African tech giants comparable to global pioneers like Google, Microsoft, and Alibaba. Recognizing Africa's youthful population as a strategic advantage, he asserts the need to harness the continent's demographic dividend through digital skills development and entrepreneurship. The foundation's efforts to connect African entrepreneurs with global networks and opportunities are pivotal in fostering a mindset shift towards regional collaboration and international competitiveness. Elumelu advocates for entrepreneurs to consolidate their presence in local markets before expanding regionally and globally. Drawing from his own experience of building a Nigerian bank into a pan-African institution, he stresses the significance of establishing a solid foundation for sustainable growth and scalability. While enthusiasm and ambition drive many African entrepreneurs to pursue cross-border ventures, Elumelu cautions against premature expansion that may compromise long-term viability. He underscores the importance of learning from mistakes, understanding local dynamics, and building a resilient business model before embarking on ambitious growth strategies. In a rapidly evolving digital landscape, Elumelu's message resonates with aspiring African entrepreneurs who seek to leverage technology for socioeconomic impact. By equipping them with the necessary skills, resources, and networks, the Tony Elumelu Foundation paves the way for a new generation of African digital pioneers poised to shape the continent's economic future.