TEF partners with Microsoft, sets to empower 10,000 startups in Africa

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According to a recent post on This Day News, Tony Elumelu Foundation (TEF), this week, signed a partnership agreement with Microsoft Nigeria, designed to help it meet its target to train and empower 10,000 technology startups from across 54 African countries.

The report disclosed that the Foundation has completed the 12 months intensive training for two sets of trainees numbering 2,000, with a third set of 1000 trainees almost completing their training programme.

While detailing on the process, This Day News noted that the union is to facilitate TEF achieve its target, adding that Microsoft is expected to provide the Technology solution for Entrepreneurs to maximize.

“During the signing of the Memorandum of Understanding (MoU) between the two organisations in Lagos, the Chief Executive Officer, Tony Elumelu Foundation, Parminder Vir OBE, said the partnership would help TEF to achieve its target of training and empowering 10,000 African startups, based on the kind of technology support that Microsoft Nigeria will be offering, through its 4Afrika Initiative.

“Microsoft will be providing entrepreneurs in the TEF Entrepreneurship Programme with technology-based tools, resources and mentorship. Through the support, which will benefit TEF entrepreneurs across the African continent, the two organisations will help entrepreneurs effectively use information and communications technology (ICT) to modernise their businesses, enrich their offerings and reach new customers.

According to the report, General Manager, Microsoft Nigeria, Akin Banuso, said: “Microsoft 4Afrika and the Tony Elumelu Foundation share a common goal to accelerate economic and social development by promoting entrepreneurship across Africa.”

“As we enter into an era of digital transformation, it is vital that we help all entrepreneurs develop relevant technology skills and integrate ICT into their businesses. Technology can help small and medium enterprises (SMEs) reach customers outside their local market, generate powerful business insights and improve their customer retention. We have found that SMEs who adopt this kind of modern information technology (IT) have seen 15 per cent faster revenue growth than those not using it,” Banuso added.