The second phase of Tony Elumelu Foundation for entrepreneurs to focus on giving more opportunity to women and post award mentoring and networking.

The 100 million dollar entrepreneurship program is aimed at supporting budding entrepreneurs in Africa. It has already given out 10,000 dollars to some 1000 entrepreneurs, who were selected recently across the continent this year.  

The second phase of the initiative is expected to takeoff from next year.

Speaking to Joy Business on his recent visit to Ghana, to engage   the finalist in the program, Mr. Elumelu say,  it is critical to empower women because of the role they play  in an economy.

“Last year we had about 30 percent of the participants made up of women, however I will like to see 50 percent of the participants made up of women.”

He also added that there are packages in place to support the final participants even after the selection next year.

“We have banks that will support these participants, because I think that the true benefit of this program is not the 10 thousand re-warded but how the whole program can transform their entire business.”