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Are Africa’s Wealthiest Doing Enough To Help The Continent?

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Africa's richest give an estimated US$7bn every year to charity, says a 2014 report by the African Grantmakers Network; but the figures also hint that giving is unbalanced among those who can afford to make a difference.

Read the original article here : Are Africa's Wealthiest Doing Enough To Help The Continent?

U.S. Embassy Hosts Women’s Business Seminar

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On June 9, the U.S Embassy in Yaounde hosted a women’s entrepreneurship seminar led by U.S. Speaker Ms. Angelle Kwemo, who is a Cameroonian American entrepreneur. The program was attended by 50 women from microfinance institutions, faith-based associations, and U.S. government exchange program participants, including from the Africa Women’s Entrepreneurship Program (AWEP) and International Visitors Leadership Program (IVLP). Organized by Cultural Affairs Specialist Gladys Viban, the seminar welcomed the exchange of ideas between Cameroonian women entrepreneurs, and expanded their networks to promote partnerships for economic development. Welcoming the guests, Public Affairs Officer Roberto Quiroz II lauded their achievements and noted: “As Ambassador Michael S. Hoza has said, promoting the empowerment of women and girls, and welcoming their immense talents and contributions in all sectors, are essential to promote development in every nation. You exemplify that spirit by investing your energies and talents towards expanding private sector growth here in Cameroon, and greater job opportunities for your fellow citizens. Your work demonstrates that to promote the goals of ‘Vision 2035,’ citizens must contribute to Cameroon today. Angelle Kwemo’s story is similar to yours. As a native of Cameroon, she shares your passion to promote women’s entrepreneurship.” Ms. Viban introduced AWEP alumna Mrs. Josiane Mbakop, CEO of the microfinance MUDEF, who shared her experiences and lessons learned during the program in 2014. “Thanks to the economic principles we learned, we reduced the rate of credit default in our microfinance institute by 10%. African women now have tremendous opportunities to advance and we are fortunate to establish networks to mentor and help one another as well as young women interested in entrepreneurship as a career to contribute to their communities and to Cameroon,” she said. Ms. Angelle Kwemo lauded the group for their experience and openness to share their knowledge with Cameroonian women. Underscoring the immense opportunities for women to increase their leadership roles in enterprises, she urged them to overcome failures and face risks until they succeed: “Study after study has shown that the economic empowerment of women leads to poverty alleviation. Yet the business potential of women is far from being fully realized. Women entrepreneurs can improve their chances of success by networking, improving business skills, recruiting a mentor, and seeking greater access to capital.” Participants exchanged ideas on how to promote business growth and product exports from Cameroon to international markets. The event was closed by Cultural Affairs Specialist Gladys Viban, who encouraged each woman present to “light up the candles of the many women who were not present here at the seminar, and who will see in you an example to follow. Take advantage of all of the opportunities offered by the networks you have established, and from the U.S. Embassy through the programs we organize. Alone you can achieve something, but together we can achieve greater things.” Ms. Kwemo is the founder and chair of “Believe in Africa,” an African diaspora-led initiative founded by former U.S. congressional staffers and African-American leaders in the United States to empower young Africans, promote the role of the African private sector, harness the power of the African diaspora, educate policy makers and the public about African economic growth, and highlight the continent’s gradual rise in the global community. Ms. Kwemo is also the President & CEO of Astrategik Group, LLC. is a U.S./Africa based global consulting firm specializing in the provision of strategic advice to multi-dimensional entities, allowing them to effectively compete globally, and at the same time building in-roads into the US, Africa and other emerging markets. A native of Cameroon, Ms. Kwemo started her career in France at Bestaux Law firm. In Douala, Cameron, she served as the Chief of the Maritime Claims and Disputes Department, and later as the General Counsel for Bollore Technology Group and Geodis Overseas. Read the original article on Facebook : U.S. Embassy Hosts Women’s Business Seminar  

Elumelu Foundation selects inaugural 1,000 African entrepreneurs for $100m programme

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By Press Release The Tony Elumelu Foundation (TEF) is pleased to announce the selection of the first 1,000 African entrepreneurs for the Tony Elumelu Entrepreneurship Programme (TEEP). TEEP is a $100 million initiative to discover and support 10,000 African entrepreneurs over the next decade, with a target of creating one million new jobs and $10 billion in additional revenues in the process. Over 20,000 African entrepreneurs from 52 countries applied to the programme, representing the creativity and potential on display across the continent. The initial 1,000 selected for the 2015 class are a remarkable group of entrepreneurs who are a testament to the ability of Africa’s own entrepreneurs to drive Africa’s growth and development. Speaking on the desired impact of the programme, Founder, Mr. Tony O. Elumelu, CON, commented: “The selection of these 1000 entrepreneurs brings us closer to our ultimate goal - to drive Africa’s economic and social transformation from within and to radically intensify job creation in Africa. Though I have never met or spoken to any of the winners, I am confident that due to the rigorous criteria and selection process, these entrepreneurs are Africa’s hope for the future. I will continue to invest my experience, time, influence, and resources to see them succeed. I am embarking on this journey with these entrepreneurs hopeful and inspired.” The winners represent 52 African countries and territories, as well as a multitude of value adding sectors ranging from agriculture to education to fashion and ICT. The top five countries in terms of numbers of winners are Nigeria, Kenya, Uganda, South Africa and Ghana. All five African regions – North, East, Southern, Central and West Africa are represented, as well as all major language blocs – Anglophone, Francophone, Lusophone, and Arabic Africa. More than anything else, they epitomise the opportunity and promise of Africa. The Tony Elumelu Foundation appointed Accenture as an independent review consultant to thoroughly evaluate each application based on selection criteria approved by the TEEP Selection Committee. Following Accenture’s independent review, a meeting of the TEEP Selection Committee, made up of successful entrepreneurs and development experts from across Africa, was held today in Lagos to approve the final list of winners. The 1000 selected entrepreneurs will continue through the programme cycle over the next nine months. This cycle includes an intensive online training curriculum, mentoring, and participation in a two-day entrepreneurship boot-camp and the Elumelu Entrepreneurship Forum. The over 19,000 entrepreneurs who were not selected will be invited to join the Tony Elumelu Entrepreneurship Network where they will be able to further hone their entrepreneurial knowledge and skills. Parminder Vir OBE, Director of Entrepreneurship at the Tony Elumelu Foundation, said: “The high quantity and quality of applicants we have received is testament to the brilliant ideas and incredible talent that exists in abundance across Africa. The Tony Elumelu Entrepreneurship Programme will give structure and support to these African entrepreneurs to develop themselves and to grow their businesses. Through TEEP, the ripple effects of the long-term investments in a new generation of Africapitalists will be felt throughout the continent.” Read the original article here : Elumelu Foundation selects inaugural 1,000 African entrepreneurs for $100m programme

Believe in Africa Day Awards Gala Dinner

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The Believe in Africa Day Awards Gala Dinner was hosted by Master of Ceremonies Roland Martin of TV One, and entertainment was provided by Kaissa Doumbe and Lokua Kanza.

Believe in Africa honored prominent personalities in both the U.S. and African public and private sectors for their leadership in promoting Africa’s economic growth. The awards were presented by the President of Madagascar, Hery Rajaonarimampianina.

Former Senator Robert Dole, received the 2014 Believe in Africa Visionary Award for his leadership in addressing food security in Africa.

Recipients of the 2014 Believe in Africa Leadership Award were Members of Congress who have demonstrated a strong commitment to the future of Africa. They included:

  • Senator Chris Coons (D-DE) for addressing the concerns of the African private sector and the African Diaspora;
  • Congressman Chris Smith (R-NJ) for his work addressing the concerns of African children;
  • Congresswoman Bobby L. Rush (D-IL) for his leadership on Africa trade and diaspora issues;
  • Congressman Gregory Meeks (D-NY) for his leadership in promoting U.S. investments in Africa;
  • Congressman Sheila Jackson Lee (D-TX) for being a strong advocate for greater U.S. – Africa mutually beneficial partnerships in energy development;
  • Two business executives received the 2014 Believe in Africa Business Titan Awards, a symbol of partnership between both the U.S. and Africa private sector and the importance of Africapitalism’s philosophy that needs to be implemented to sustain Africa’s economic future: Jay Ireland, CEO, GE Africa and Tony O. Elumelu, Chairman of Heirs Holding, Founder of the Tony Elumelu Foundation and Africapitalism Institute.
  • M. Donald Kaberuka, President of the African Development Bank received the “Believe in Africa Lifetime Achievement Award” for his leadership building Africa’s infrastructure.
  • Two sponsors Awards were given to Lucien Ebata, Chairman Orion and Forbes Afrique Pierre Goudiabi, ATEPA

We give our special gratitude to our sponsors, partners and supporters, our team and friends:

The Government of Cameroon, the African Union Commission, the Governor of Maryland, The Mayor of Washington DC, Africa 24TV, Forbes Afrique, The New York Forum on Africa, Richard Attias and Associates, Orion Oil, the Atepa Group, Etnium International, Rimsom Strategies, Africa 2.0, Financia Capital, Gumbi, Dechambenoit & Associates, Global Humanitarian Photojournalists, Rindi Media, Groupe Jeune Afrique, and Active Media.

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Believe In Africa Day Panels And Round Tables

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Panels:

Ms. Maureen Umeh, a Washington, DC Fox 5 TV News anchor, guided the high-level dialogue in an off-the-record, frank and straight talk interactive format environment.

High-level government officials, experts and business executives from both the U.S. and Africa participated as panelists throughout the day and included Ms. Lisa Bonnikson, Sub-Saharan Africa Region Manager; Kola Karim, Shoreline Energy International; Lucien Ebata, Chairman ORION OIL and FORBES AFRIQUE; Philippe Heilberg, Founder, Chairman and CEO at Jarch Capital, LLC; Dale Lefebvre, Chairman, 35711; Jacqueline Sultan, Minister of Agriculture of Guinéa, Mark von Pentz, President, Agriculture & Turf Division- Europe, Asia, Africa for John Deere; Richard Markwell, Vice-President and Managing Director for Europe, Africa and Middle East, Massey Ferguson; Calestous Juma, Harvard Kennedy School, Director of the Agricultural Innovation in Africa Project funded by the Gates Foundation and Director of the Harvard Globalization project; Johan Steyn, Managing Director-Middle East & Africa, Cargill; Acha Leke, Director of McKinsey; Paolo Gomes, President, Constellor; Dr. Olatunde Ayeni, Chairman of SkyeBank; Dr. Rose Mutiso, Energy and Innovation Policy Fellow, Office of Senator Chris Coons (D-DE); Laura Taylor Kale, Senior Advisor to the president, U.S. Overseas Private Investment Corporation; Jean Philippe Prosper, IFC Vice-President for Sub-Saharan Africa, Latin America and the Caribbean; Emmanuel Nganou Djoumessi, Minister of Economy, Planning and Regional Development, Republic of Cameroon; Essimi Menye, Minister of Agriculture and Rural Development, Republic of Cameroon; Basile Atangana Kouna, Minister of Water and Energy, Republic of Cameroon; Emmanuel Bonde, Minister of Mines, Industry and Technology Development, Republic of Cameroon; Laurent Serge Etoundi Ngoa, Minister of Small and Medium Size Enterprise, Social Economy and Handicraft, Republic of Cameroon; Daniel Abate, President of Employers Organization (MECAM) and Mr. Mathieu Mandeng, General Manager, Standard Chartered Bank, President of APECCAM.

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The First Believe In Africa Day 2014

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GUIDING THE WORLD TO BELIEVE IN AFRICA’S FUTURE Washington, D.C. -August 8, 2014-Washington, DC’s highly anticipated and successful Believe in Africa Day was held with a crowded room of more than 400 government and business leaders on Sunday, August 3, 2014 at the Newseum in Washington, D.C. Believe in Africa Day, organized by Angelle B. Kwemo, Founder and CEO of Believe in Africa, was created because of Kwemo’s vision to present an African response to African issues, to promote the role of the diaspora and the private sector in Africa’s economic growth. Believe in Africa Day was timely as it brought together key players on the African continent who believe that the time has come for all the sons and daughters of Africa to be involved in the resurgence of their beloved continent. This is Africa’s New Deal. Her riches, her willingness and the maturity of her people create fertile soil for new seeds to grow. Believe in Africa Day is a conduit for these burgeoning economies. Believe in Africa Day was an event organized by “Africans For Africa”, where Africans are eager to share their vision for their beloved homeland with the rest of the world. The event was focused on sharing information and seeking viable partnerships with their U.S. counterparts to help make their vision for Africa, a reality. The Believe in Africa Day speakers included prominent men and women in various leadership positions throughout the continent. Each speaker spoke in unison about the significance that the event was making in the history of the continent. MEMORABLE SPEECHES: H.E. Alamine Ousmane Mey, Minister of Finance for the Republic of Cameroon, speaking on behalf of H.E. Paul Biya, said, “Some people thought that Africa has started to a bad start, others have claimed that Africa doesn’t have enough. But today things have changed. Africa not only started, but it started well. For us, Africa is the land of the future. This not just Believe in Africa Day, it is Believe in Africa century’. See the video here: Dr. Nkosazana Clarice Dlamini Zuma, Chairperson of the African Union Commission, kicked off the opening day ceremony by stating, “We know Africa is rich, but we want African people to be rich as well.” See the video here: Mohamed Ould Abdel Aziz, President of the Islamic Republic of Mauritania and President of the African Union commended Believe in Africa for hosting Believe in Africa Day. The Mayor of the District of Columbia, The Honorable Vincent C. Gray and Governor Martin O’Malley Governor of the State of Maryland, commended Angelle Kwemo for her leadership and issued an official proclamation declaring August 3, 2014 as “Believe in Africa Day.” They encouraged other states to do the same. See the video here: In his video message, Congressman Bobby L. Rush presented welcome remarks stating “Africans are master of their own destiny …” see the video here: Prominent leaders like H.E.Alpha Conde, President of the Republic of Guinea ; H.E Hery Rajaonarimampianina, President of the Republic of Madagascar and M. Donald Kaberuka, President of the African Development Bank, served in active roles while moderating panels on energy, infrastructure, technology development and banking. Emphasizing the role Africans should play, he said: "A country that relies on others to finance development is ordained to fail." Adding "changing Africa's perception is step one for encouraging investment" in the continent.” H.E. Alpha Conde’s speech: H.E. Hery Rajaonarimampianina speech: Mr. Donald Kaberuka’s speech: Ambassador Jean Baptiste Natama, Africa Union Commission sent a powerful message to the youth. This was the first time that Africans among other Africans shared their visions and activities in those sectors in a high-level dialogue on each subject See the video here: Tony O. Elumelu, CEO of Heirs Holdings stated, “I am a great believer in the power of vision. It is fundamental to any achievement, to greatness- but only when accompanied by action and follow through. The name of the ‘Believe in Africa’ organization is very apt for this moment in time. I believe in a brighter future for the next and coming generations of Africans. I believe that the private sector has an important role to play in advancing the well-being and economic development of the continent. I call this “Africapitalism”. He commended the African diaspora for speaking up and encouraged them “to believe in Africa by filling the constituency vacuum in U.S. policy towards Africa”. He added “You must actively engage and help to shape U.S. policy towards the continent and ensure that it is continually elevated as a priority.” You can read Mr. Elumelu's Message here: Remarks For The ‘Believe In Africa’ Awards Dinner

HAPPY HOLIDAYS FROM BELIEVE IN AFRICA

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happy holiday believe in africa MESSAGE TO OUR READERS This year was an exceptional year for Believe in Africa. We held our first summit in Washington, D.C. during the historical US - Africa Leaders Summit hosted by President Barack Obama. It was titled: "Believe in Africa Day" with the High Patronage of H.E. Paul Biya, President of the Republic of Cameroon and H.E. Dr Nkosazana Dlamini-Zuma, Chairperson of the African Union Commission. We were honored to host H.E. Mohamed Ould Abdel Aziz, President African Union President of the Republic Islamic of Mauritania, H.E Alpha Conde, President of the Republic Guinea and the first lady, H.E. Hery Rajaonarimampianina, President of Republic of Madagascar and the first lady, Mr. Donald Kaberuka, President, Africa Bank of Development. In addition, this year we multiplied our actions to fight one of the challenges of our generation, the Ebola virus and to empower the future generation of African entrepreneurs. We are exited for many more actions in 2015. Sincerely, Angelle Kwemo Founder & Chair

Africa’s Most Successful Women: Divine Ndhlukula

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Divine Ndhlukula, a Zimbabwean national, is the founder and Managing Director of SECURICO, one of Zimbabwe’s largest security companies. The Harare-based outfit is a market leader in the provision of bespoke guarding services and cutting-edge electronic security solutions. Ndhlukula has done remarkably well. In less than 15 years of doing business, SECURICO has achieved a number of significant feats: The $13 million (revenues) company now has more than 3,400 employees – 900 of whom are women. The company was also the first security outfit in Zimbabwe to achieve an ISO (International Organization for Standardisation) certification. Last December the company was the winner of the prestigious Legatum Africa Awards for Entrepreneurship.

you can read the full article by following this link: Africa's Most Successful Women: Divine Ndhlukula

The Senegalese Entrepreneur Selling African Recipes To Americans

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Magatte Wade is one of the most notable female entrepreneurs to emerge from Africa. Born in Senegal and educated in France, she is the original founder of Adina World Beat Beverages, a San Francisco beverage company that manufactures coffee, tea and fruit juices based on indigenous traditional beverage recipes from across the world, using organic ingredients sourced from small-scale farmers across Africa and Asia. Wade started the company in 2004 and within five years had raised $30 million in venture capital. That was great news but had drawbacks. Other parties became increasingly influential regarding the styling, positioning, and content of the brand. Wade did not like the direction, so she stepped down as Adina’s CEO in 2009, but held onto a stake.

you can read the full article by following this link: The Senegalese Entrepreneur Selling African Recipes To Americans

Ten African Internet Millionaires To Watch

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Africa may not yet have an Internet billionaire, but there are a handful of savvy African entrepreneurs who’ve built 7- and 8-figure fortunes by identifying and taking advantage of the opportunities on the continent’s web space. Here’s a basic truth: In the next five to seven years, there’ll be an unprecedented explosion of Internet millionaires. A billionaire or two may even crop up. You never know. The signs are there. Massive broadband fiber optic cables are being laid everywhere from the West cost to the East, North and the South. Hungry techies everywhere from Nigeria to Ghana, Kenya and South Africa are building web-based companies providing simple solutions for some of our most daunting challenges and inconveniences. Some of the world’s most important investors are taking notice, and making huge bets. New York-based hedge fund Tiger Global Management, Swedish investment firm Kinnevik and Australia’s Seek.com.au have each made multi-million dollar investments in the continent’s Internet space, reinforcing the notion that the next gold mine could be Africa’s tech space.

you can read the full article by following this link: Ten African Internet Millionaires To Watch