Tony Elumelu Foundation Welcomes Three Esteemed Advisory Board Members

New Faces at the Tony Elumelu Foundation: Strengthening the Future of African Entrepreneurship

In a significant development for African entrepreneurship, the Tony Elumelu Foundation (TEF) has revealed the appointment of three distinguished individuals to its advisory board. This move not only enhances the foundation's strategic direction but also underscores its commitment to empowering young entrepreneurs across the continent. The new members are Professor Paul Gompers from Harvard Business School, Per Heggenes, the former CEO of the IKEA Foundation, and His Excellency Badr Jafar, CEO of Crescent Enterprises and a prominent philanthropist from the United Arab Emirates.

Highlighting the Expertise of the New Board Members

1. Professor Paul Gompers: A leading expert in venture capital and entrepreneurship at Harvard Business School, Gompers brings a wealth of knowledge and experience to the table. His previous work with the TEF, including a case study that highlighted the foundation's impact on entrepreneurship in Africa, reflects his long-term commitment to fostering an entrepreneurial ecosystem that promotes job creation and innovation.

2. Per Heggenes: With nearly two decades of experience in global grant-making and sustainable development, Heggenes' expertise is invaluable. As the former CEO of the IKEA Foundation, he has been instrumental in driving philanthropic initiatives that align with the TEF’s mission to empower youth and foster economic independence.

3. His Excellency Badr Jafar: As a prominent business leader and philanthropist, Jafar's experience spans various sectors, making him a vital asset for the TEF. He emphasizes the importance of innovative solutions and strategic philanthropy to create sustainable impact, equipping the foundation with the insights needed to connect with global partners committed to economic inclusion in Africa.

The Vision Behind the Appointments

Tony Elumelu, the founder of TEF, expressed his excitement about the new appointments, stating, "Entrepreneurship is the most powerful engine for long-term prosperity in Africa. We are thrilled to welcome His Excellency Badr Jafar, Per Heggenes, and Professor Paul Gompers to our advisory board. Their collective experience and insights will play a crucial role in helping us expand our mission and connect Africa with global partners who share in our commitment to economic inclusion."

Elumelu’s remarks highlight a pivotal approach: leveraging global expertise and resources to address local challenges faced by African entrepreneurs.

Voices from the New Advisory Members

Badr Jafar, responding to his nomination, stated, "It is a privilege to support the work of the Tony Elumelu Foundation at a moment when Africa’s entrepreneurial energy is reshaping the future. The UAE has become a global hub for innovation and cross-sector collaboration, and I look forward to bridging regions and sectors to create impactful solutions."

Per Heggenes echoed this sentiment saying, "The Tony Elumelu Foundation has established one of the most ambitious and effective entrepreneurial platforms globally. I am excited to join the team at a time when young African entrepreneurs are playing a crucial role in solving global problems."

Professor Gompers added, "Entrepreneurship is a key driver of innovation, job creation, and economic transformation. TEF has demonstrated what’s possible when capital, training, and long-term commitment align. I am eager to contribute to the mission of deepening entrepreneurial ecosystems in Africa."

The Road Ahead for the Tony Elumelu Foundation

The appointments come at a crucial time for the foundation, which aims to catalyze economic growth through supporting over 1,000,000 young African entrepreneurs by 2030. By bringing on board such esteemed and experienced members, TEF is poised to enhance its influence and promote sustainable entrepreneurial practices that can transform the African landscape.

With these strategic appointments, the Tony Elumelu Foundation reaffirms its dedication to fostering an environment where young entrepreneurs can thrive, innovate, and ultimately become the engines of growth for their communities and countries across Africa.

For further inquiries and information on the annual report and impact report, readers can contact the TEF directly.