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Obasanjo partners Dangote, Edward to promote entrepreneurship in Africa

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A NEW initiative spearheaded by former Nigerian President Olusegun Obasanjo, in cooperation with the richest man in Africa, Aliko Dangote and the Duke of York, Prince Andrew Edward is targeting to boost African economy.

Obasanjo partners Dangote, Edward to promote entrepreneurship in Africa

Duke of York, Prince Andrew Edward, Dangote and Obansanjo

The project is expected to promote entrepreneurship on the continent through investment, limiting investment risk and optimising reward. According to a report by The Global African Investment Summit (TGAIS), the project, which is called African Entrepreneurship Programme (AEP), would be a new initiative between Pitch@Palace and TGAIS targeted at developing the African private sector and stimulating innovation and technology throughout the continent.

The AEP will also create a platform for African entrepreneurs and young businesses in need of capital and mentorship to develop their businesses, providing them opportunities to present and connect with potential investors “Africa is a continent of growth and home to the world’s youngest population. We are very pleased to support Africa’s growth and develop its workforce through the AEP,” Obasanjo said.

Obasanjo disclosed to CNBC Africathat: “Government must create a conducive environment for people to want to invest, for people to want to risk their resources in investing, so they can get adequate reward for the challenge, risk and putting themselves on the line”.

He stated that, “corruption and entrepreneurship are strange bedfellows”, stressing further that a country cannot have corruption and expect entrepreneurship to go well.

While describing corruption as an antithesis to economic development, the former President praised President Muhammadu Buhari’s efforts to fight against corruption, “He has started well, I hope we will continue to go well and end well in that respect,” he added.

Obasanjo said “though Nigeria has a large crop of educated Nigerians but that the problems they have is that the education they have is not relevant. If you are going to talk about entrepreneurship you have to talk to people who are sufficiently trained in what it takes to be an entrepreneur.”

He added that people needed the necessary training as most Nigerian people are industrialists. TGAIS said it would facilitate a meeting between young AEP entrepreneurs and businesses in order to showcase their business ideas to potential investors, stating that its last year’s attendees attracted 235 billion US Dollar worth of managed funds.”

Originally appeared on Guardian

The former President Olusegun Obasanjo also has a foundation the Olusegun Obasanjo Foundation with the mission to feed Africa by increasing agriculture capacity, promote youth employment and empowerment, support girl child education, combat non-communicable and water-borne diseases and be a driving force in leadership on the continent by bringing together government, non-governmental organizations and private citizens to confront these issues.

Francis Nwokike

Francis Nwokike is the Founder and Chief Editor of The Total Entrepreneurs. A Social Entrepreneur and experienced Disaster Manager. He loves researching and discussing business trends and providing startups with valuable insights into running a profitable business. He created TTE to share ideas and tips to help entrepreneurs run and grow their businesses.