General News
Elumelu@ GEN-U Sahel, Says TEF Funded 10, 898 Entrepreneurs across Africa
Tony Elumelu, founder and chairman of Tony Elumelu Foundation (TEF), has said that the foundation has funded 10, 898 entrepreneurs across Africa, who have gone on to create further 400, 000 direct and indirect jobs across the continent.
Tony Elumelu, founder and chairman of Tony Elumelu Foundation
Elumelu, also chairman of the United Bank for Africa (UBA) Group and HEIRS Holding, who made the disclosure when he joined other world leaders to launch an initiative tagged, ‘Generation Unlimited (GEN-U) Sahel: A Leap For Sahel Youth,’ aimed at connecting Sahel’s young people to opportunities, noted that giving economic power to young Africans remained the only solution to the continent’s developmental challenges.
Elumelu explained that 65 per cent of people living in the Sahel region are less than 25 years of age and remain adversely affected by the pandemic, among other challenges, which has forced more than two million people to flee their homes with millions losing their major sources of livelihoods as resources are scarce and opportunities are limited leading to more tensions and conflicts in the region.
He said, “Empowering and investing in our people, especially our young ones in the Sahel to give them economic hope and opportunities is the only solution. This is what we believe in at the Tony Elumelu Foundation (TEF) and we are happy that global partners also buy into this vision. As I have always said, poverty anywhere is a threat to all of us.”
Elumelu said TEF has provided over $5000 non-refundable seed capital per beneficiary, business training and mentoring for young entrepreneurs to scale their enterprises.
“We have funded 10, 898 entrepreneurs across Africa, these young Africans entrepreneurs have gone on to create further 400, 000 direct and indirect jobs across the continent,” he said.
“In 2019, we partnered with the United Nation Development Programme (UNDP) to identify , train, mentor and fund 2100 young entrepreneurs in the Sahel region and these includes Northern Nigeria, Burkina Faso, Mali, Niger, Chad, Cameroun and Mauritania.
“Again in 2020 in the heat of the pandemic we partnered with UNDP to train 1860 young Malians which face a triple threats of conflicts , insecurity and poverty as well as loss of means of livelihood from climate change, through our interventions we are well able to create small businesses and generate economic pool in the youth; channeling their creativity and skills to transform the Sahel region.”
In his own remarks at the launch which held virtually, Alexander De Croo, Prime Minister of Belgium, said the young people from the Sahel would bring improvement and change needed in the region if given the opportunity.
He explained that among the many challenges facing young people two were more important and pledged to work with Nigeria in the field of digital space.
“First strengthening education systems from basic education to vocational training to supporting young people finding employment and addressing the lack of governance and political representation from young people,” he said.
Referred to as “Gen-U,” the Generation Unlimited initiative is aimed at maximising opportunities in the Sahel, towards equipping 100 million young people with the skills needed to thrive by 2030.
The Sahel region includes Burkina Faso, Cameroon, Chad, The Gambia, Guinea Mauritania, Mali, Niger, Nigeria and Senegal.
The initiative, which involves a huge partnership between the government, multilateral organisations, civil societies and private sectors from all over the world, was launched on Monday.
Mrs Amina Mohammed, UN official, who officially launched the initiative, said “the GenU Sahel is an especially important and urgent initiative as millions of people living in the Sahel face insecurity and serious challenges to sustainable development complicated by the devastating pandemic”.
She noted that “the Sahel is young with over 64 per cent of people under 25 and more than half are women and girls”.
“The United Nations stands with young people, the ongoing conversation between the United Nations and Young people of the Sahel launched under our integrated strategy for the Sahel are helping us to understand your priorities and hopes, so that we can integrate them into our support for the region.
“Young people’s few points and approaches are essential to making the Sahel peaceful, resilient and prosperous today and tomorrow. The security council resolution creating the UN integrated strategy for the development of the Sahel is focused on Women and Young people but it remains challenging to make tangible progress towards the Sustainable Development Goals (SDGs),” she said.
Also speaking, Mr Moussa Faki said the African Union and UNICEF had made a commitment to intensify the initiative beyond this year, adding that the partnership is important in order to “federate synergy around the issues surrounding the young people”.
Jayathma Wickramanayake, UN secretary general’s Envoy on Youth emphasised on the need for inclusion for the success of the program, not only in the Sahel but around the world.
The launch also featured a panel session with young leaders and other speakers, which include Emanuela Claudia Del Re, EU Special Representative for the Sahel; Sanda Ojiambo, CEO & Executive Director, United Nations Global Compact; Cynthia Samuel-Olanjuwon, Assistant Director General & Regional Director Africa; and Argentina Matavel Piccin, Regional Director UNFPA West & Central.
Gen U was first launched at the 73rd United Nations General Assembly, in September 2018, as a global multi-sector partnership to meet the urgent need for expanded education, training and employment opportunities for young people, aged 10 to 24, on an unprecedented scale.
Generation Unlimited has generated interest from government and leaders from industry and other key sectors committed to cohere efforts around young people for large-scale impact.
The GenU Sahel will focus on the provision of relevant skills, opportunities for employment, entrepreneurship, and social impact for people in the Sahel region.
Nigeria Hydrological Service Agency (NIHSA) has warned of possible floods in parts of Adamawa, Bauchi, Edo, Imo, Enugu, Akwa Ibom, Cross River, Kaduna, Plateau, Niger, Benue, and Borno states within the next seven days.
According to information posted on NIHSA X handle, the Agency announced medium flood advisory in force for the next 7 days across Adamawa, Bauchi, and 11 other States.
“Localised inundation is forecast along the main channel; named communities below sit on the projected footprint. Stations: Saminara on the Karam river, Waya Dam Site on the Waya river, Amber on the Amber river.
“Adamawa; Lemsa, Lamurde, Numan Exposure: 147 comm. 49 schis 40 hith 6 mkts17 relig. Bauchi-Bauchi, Ningi, Shira. Exposure: 4 comm. Kaduna; Chikun, Giwa, Igabi, Jaba, Jema’a, Kachia, Kaura, Kauru, +6 more. Exposure: 1 comm.
“Borno-Gubio, Mobbar. Exposure: 680 comm. 8 schls 6 hith 5 mkts 21 relig. Edo-Akoko-Ed, EtsakoEa, EtsakoWe, Ikpoba-Okha, Orhionmw, OviaNort, OviaSo.. Exposure: 3 comm.
“Imo-Aboh-Mba, Oguta, Ohaji/Eg, Okigwe, Owerri North, Owerri West. Exposure: 3 comm. 7 more states affected and severity LGAs”.
NIHSA advised people in the affected areas to “do NOT cross flooded roads, bridges, or fast-moving water on foot or by vehicle.
“Clear drainage channels and river-mouth blockages; avoid building or living in the floodplain and move people, livestock and valuables from the floodplain to pre-identified higher ground,” NIHSA stated.
General News
First Trustees Advocates Estate Planning as an Essential Tool in Every Wealth Creation Strategy
First Trustees Limited, a subsidiary of FirstHoldCo Plc., and a leading provider of fiduciary and trusteeship services in Nigeria, is encouraging individuals, professionals, entrepreneurs, and investors to view Estate Planning not as an end-of-life exercise, but as a strategic investment tool for protecting, preserving, and transferring wealth across generations.
As more Nigerians focus on wealth creation through businesses, real estate investments, and other income-generating assets, experts are emphasizing that building wealth is only one part of the equation.
Equally important is creating structures that ensure those assets remain protected, properly managed, and seamlessly transferred to succeeding generations in accordance with the asset owner’s wishes. Importantly, Estate Planning is not solely for the wealthy, it is a prudent step for anyone with assets, dependants, or a business to protect, regardless of age, profession, or net worth.
Speaking on the importance of Estate Planning, Ereifemi Akeredolu, Managing Director/CEO, First Trustees Limited, noted that Estate Planning should be considered a core pillar of every long-term financial strategy.
“Many people focus on creating wealth but give litle thought to preserving it. Estate Planning is a wealth protection strategy that helps individuals safeguard their assets, secure their family’s future, and ensure that the value they build today continues to benefit future generations.”
Using tools such as Trusts, Wills, and advanced succession plans, individuals can build structures that support wealth preservation, business continuity, asset protection, and intergenerational wealth transfer.
For entrepreneurs and business owners, Estate Planning serves as a powerful tool for ensuring business sustainability, helping organizations remain stable and operational regardless of unforeseen circumstances.
First Trustees continues to emphasize and educate on the importance of Estate Planning as a comprehensive strategy for proactive planning. It remains one of the most important financial decisions an individual can make: it provides clarity, minimizes uncertainty, and protects assets from unnecessary erosion and disputes. It also creates financial security for loved ones, supports business succession and continuity, and facilitates long-term investment and legacy planning.
General News
Nearpays, Nigerian Fintech Becomes First African Startup to Win UN’s AI for Good Innovation Factory
Nearpays, Nigerian fintech, has won the AI for Good Innovation Factory grand finale — the first African startup ever to take the global title in the competition, which runs as part of the United Nations’ AI for Good Global Summit.
The competition drew more than 500 startups worldwide, each pitching AI solutions aimed at social and economic challenges.
The summit itself is organised by the UN through the International Telecommunication Union (ITU) in partnership with several UN agencies, convening governments, researchers, startups, and technology companies around AI’s role in development.
Nearpays’ route to the title ran through Johannesburg, where it won the African regional competition, before advancing to the global finals in Geneva.
There, the company progressed through the semi-finals and claimed the grand finale — a first for the continent.
The company describes the win as bigger than a corporate milestone, calling it a victory for African innovation and proof that technology built to solve local problems can compete, and win, on the world stage.
Nearpays was founded to close a stubborn gap in African payments: small and medium-sized businesses that can’t afford or access traditional point-of-sale terminals.
Cost, availability, and deployment hurdles have kept many merchants — particularly in rural and underserved communities — locked out of digital payments.
Its answer is SoftPOS: an AI-powered platform that turns compatible Android smartphones into payment acceptance devices, letting merchants take contactless card payments with nothing more than their phones. AI is embedded across the platform, supporting payment processing, compliance, fraud detection, and business operations.
Crucially, the platform was built for African infrastructure realities — it works both online and offline, so merchants can keep accepting payments even without internet connectivity.
The company credited its team’s years of product development and customer engagement for the result, and thanked the UN, the ITU, and the AI for Good initiative for building a platform where innovators can apply AI to real-world problems.
It also said it hopes the win encourages more African founders to build technology that answers local needs while competing internationally.
For Nearpays, the title closes one chapter and opens another, as the company pushes on with expanding digital financial infrastructure across Afric
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