Leading pan African financial institution, United Bank for Africa (UBA) Plc Chairman and Founder of Tony Elumelu Foundation (TEF), Mr. Tony Elumelu has disclosed that UBA and its sister entities have empowered 158 indigenes of Oyo State in the last seven years through the Tony Elumelu Foundation Entrepreneurship Programme.
Elumelu made the revelation on Wednesday, October 27th, 2021 in Ibadan, Oyo State at the maiden edition of the Oyo State Agribusiness Summit.
He said; “The summit should go beyond building the agribusiness hub of Nigeria but that of Africa.”
“I would like for us to go one step further – the dream should extend beyond building the agribusiness hub of Nigeria, but of Africa. Akin to what Silicon Valley is to North America in Technology, Oyo State should be to Africa the beacon and leading entity in Agriculture.”
“Agriculture is critical for Africa’s development for two main reasons, including being the continent’s largest employer of labour and also employing more women than any other sector.”
“The economic growth the agriculture sector generates is inclusive, broad based, and effective in creating a multiplier effect that helps lift families and communities out of poverty.”
“Investment in agriculture is therefore a direct investment in poverty eradication and job creation, that is the reason we at Tony Elumelu Foundation, the leading philanthropy empowering young African entrepreneurs from all 54 African countries, prioritise the agriculture sector.”
“Out of the over 10,000 young Nigerians and Africans that we have empowered through our non-refundable seed capital of $5000, more than a third of the beneficiaries were agri-business ventures.”
“TEF has empowered 158 indigenes of Oyo State in the last seven years through the Tony Elumelu Foundation Entrepreneurship Programme.”
For those who don’t know, the Oyo Agribusiness Summit is a project-managed by Agro4you Limited in conjunction with the Oyo State Agribusiness Development Agency (OYSADA), in line with Governor Seyi Makinde’s vision and road-map towards changing the agricultural landscape of the state to become the agribusiness hub of Sub-Saharan Africa.