Tony Elumelu Foundation Welcomes Three New Advisory Board Members to Propel African Entrepreneurship

Tony Elumelu Foundation Welcomes New Advisory Board Members

The Tony Elumelu Foundation (TEF), a pivotal philanthropic organization in Africa, which champions young entrepreneurs, has recently announced the appointment of three distinguished individuals to its Advisory Board. The newly appointed members are Professor Paul Gompers from Harvard Business School, Per Heggenes, former CEO of the IKEA Foundation, and His Excellency Badr Jafar, CEO of Crescent Enterprises and special envoy for Business and Philanthropy from the United Arab Emirates.

These appointments reflect TEF's commitment to enhancing entrepreneurial success across Africa and consolidating global partnerships. Tony O. Elumelu, the founder of TEF, emphasized the importance of these new members, stating that “entrepreneurship is the most powerful engine for long-term prosperity in Africa.” He added that the expertise of Badr Jafar in promoting innovative solutions and strategic philanthropy will be crucial for expanding TEF's mission and connecting Africa with global partners who share its commitment to economic inclusion.

A Closer Look at the New Members

Professor Paul Gompers is a renowned expert in venture capital and entrepreneurship, making him a valuable addition to the board. He has a long-standing association with TEF, reflected in his case studies at Harvard Business School that underscore the organization’s impact on entrepreneurship in Africa. Gompers expressed his enthusiasm for joining the Advisory Board, recognizing the role of entrepreneurship as a fundamental driver of innovation, job creation, and economic transformation.

Per Heggenes, with nearly two decades of experience in global grant-making and sustainable development, brings significant institutional capacity to the foundation. He stated, “The Tony Elumelu Foundation has created one of the most ambitious and impactful entrepreneurship platforms in the world. I am pleased to join at a time when young African entrepreneurs are increasingly vital in addressing global challenges.” He aims to leverage his experience for supporting TEF’s mission of fostering entrepreneurship as a pathway to economic independence, resilience, and inclusive growth.

His Excellency Badr Jafar underlined his commitment to TEF’s work during his appointment. He remarked, “It is a privilege to support the Tony Elumelu Foundation at a time when Africa’s entrepreneurial dynamism is transforming the future. The UAE has established itself as a global platform for innovation and cross-sector collaboration, and I look forward to helping bridge regions, sectors, and generations to drive sustainable impact at scale.” His insights into strategic philanthropy will aid in enhancing TEF's mission.

TEF’s Vision and Future Directions

The inclusion of these three prominent figures on the Advisory Board signifies TEF's ability to bring together global voices to advocate for African solutions. Their collective expertise is expected to enhance the foundation’s efforts in empowering young entrepreneurs, thereby creating a stronger economic framework across the continent.

The foundation aims not only to support entrepreneurs financially but also to provide mentorship, advocacy, and resources essential for turning innovative ideas into successful businesses. TEF's annual reports and impact assessments reflect the positive changes being implemented due to the foundation’s initiatives.

In conclusion, the Tony Elumelu Foundation’s appointment of Professor Gompers, Per Heggenes, and His Excellency Badr Jafar serves as a testament to its ongoing commitment to fostering entrepreneurship as a catalyst for sustainable development in Africa. As the global landscape continues to evolve, TEF remains steadfast in its mission to empower young entrepreneurs, ensuring they have the necessary tools and support to thrive in an increasingly competitive environment.