Tony Elumelu rallies global support for immediate climate action to support African youths at COP28
Founder of the Tony Elumelu Foundation and Chairman of the United Bank for Africa (UBA) Group, Mr Tony Elumelu rallied the support of global leaders at the COP28 holding in Dubai for immediate climate action to support the future of African youths.
At a series of events across COP28, Tony Elumelu delivered a single message to world leaders: “Africa needs to be heard, Africa’s future is the world’s future and the continent that is most impacted by and the least contributor to climate change, needs our attention. With African youth set to make up one third of the global population later this century, the future of Africa’s youth, entrepreneurial, ambitious, resilient, needs to be given the highest priority.”
Elumelu offered the infrastructure and experience of his own Foundation’s 10 year $100 million entrepreneurship programme to partners, to catalyse a further generation of African entrepreneurs; entrepreneurs who can address climate change and drive the broader wealth creation that Africa requires. Reaching and funding young entrepreneurs in every African country, the Elumelu approach of sector agnostic seed funding, mentoring, and networking has delivered a robust impact.
The annual COP UN Climate Change Conferences unites the world to assess progress in combating climate change. Elumelu is one of Africa’s leading advocates for an equitable agenda for climate action and through the Tony Elumelu Foundation has empowered thousands of green entrepreneurs, shaping a more sustainable future for Africa.
The Tony Elumelu Foundation, in partnership with the United Bank for Africa (UBA), hosted a high-level session, bringing together Africans, and key players in the Gulf, Europe, and Americas, where UBA operates, underscoring the urgent need for innovative approaches to climate adaptation and mitigation, while fostering sustainable development, and bringing attention to Africa’s unique position.
Speakers included Dr. Okonjo Iweala, Director General, World Trade Organization; Ahunna Eziakonwa, Assistant Administrator and Regional Director for Africa, UNDP, Kevin Frey, CEO, UNICEF Generation Unlimited; Sergio Pimenta, VP Africa, IFC; Wendy Teleki, Head of the Women Entrepreneurs Financial Initiative, World Bank; Adam Wang-Levine, U.S. Deputy Assistant Secretary for Climate; Joseph Nganga, Vice President, Global Energy Alliance for People and Planet, Rockefeller Foundation; Hassan Al Hashemi, VP International Relations, Dubai Chambers; Serge Ekué, Chairman, West African Development Bank (BOAD); Muyiwa Akinyemi, Deputy Group Managing Director, United Bank for Africa; and Mattias Frumerie, Swedish Climate Ambassador and Head of Delegation, UNFCCC.
“Addressing climate change is the paramount challenge of our era. The urgency is unmistakable,” Elumelu stated, “It is critical that Africa, as a continent, and African voices, play a key role in global climate conversations, as meaningful participants, and no longer as bystanders.”
“Africa is least responsible and is disproportionately impacted by climate change. I am investing in a generation of green entrepreneurs, and we are extending the hand of partnership, so that others can benefit and use the infrastructure and platform we have created to reach entrepreneurs across Africa.”
Elumelu represented the African private sector at the 2023 New Global Financing Pact in Paris at the invitation of French President Emmanuel Macron, and the Climate Finance Mobilisation Forum in London, at the invitation of King Charles III of the United Kingdom and U.S. President Biden.
At the 78th United Nations General Assembly (UNGA78) in New York, the Tony Elumelu Foundation (TEF) launched a first-of-its-kind Green Entrepreneurship Programme, the #BeGreenAfrica Initiative, in partnership with the IKEA Foundation, Dutch Government and UNICEF GenU, to support green entrepreneurship and youth development.
TEF Entrepreneur from Madagascar in the green economy, Marie-Christiana Kola, shared a compelling impact story.
She said, “As a beneficiary of the Tony Elumelu Foundation Entrepreneurship programme, I was able to create a recycled and 100 percent biodegradable hand soap made with waste cooked oil – the number one water polluter of water in African urban cities.
“These soaps do not only protect the environment, but they are also solidarity soaps. I was also able to attend the COP27 conference in Egypt, where I won the Innovation Prize. Today, I have employed over 30 people because of the Tony Elumelu Foundation.”
Speaking at the TEF #COP28 high-level event, DG, World Trade Organisation stated, Dr. Okonjo Iweala, ”I am proud of what my brother, Tony Elumelu, has done in empowering and inspiring so many young entrepreneurs. We have no choice; the future is green. The future of growth is two things – it is green, and it must be inclusive. I am very interested in partnerships with organisations like TEF.”
Assistant Administrator and Regional Director for Africa, UNDP, Ahunna Eziakonwa added, “The reason why UNDP associated itself with the Tony Elumelu Foundation years ago is because of the leadership and courage of the Foundation to trust and invest in young Africans. It was one of the first organisation to do so at that scale.”
The Foundation partnered with the UNDP to empower thousands in the Sahel, with an ambitious project to impact the lives of one million young Africans.
VP, Africa at the IFC, Sergio Pimenta, also stated, “Tony, I salute you and your Foundation for what you have been doing to support young entrepreneurs in Africa. The IFC has deployed $2billion in funding for African SMEs in the last fiscal year and we are very excited to be able to do more, working with you.”
CEO UNICEF Generation Unlimited, Kevin Frey, added, “With TEF, we have moved in a concerted way into the entrepreneurial space. Generation Unlimited now has a flagship programme with the Tony Elumelu Foundation called #BeGreenAfrica, launched in Kenya, and now with the support of the IKEA Foundation and the Dutch Government, we have scaled to Nigeria, Morocco, South Africa, and Senegal.
“We will train and seed 500 green entrepreneurs this year in the pilot project across those countries. So Tony, thank you so much, you are right it is all about partnerships.”
Head of the Women Entrepreneurs Financial Initiative at the World Bank, Wendy Teleki, announced, “Our women-focused initiative has been able to secure $3.6 billion to finance women entrepreneurs in 67 countries across the world, and is set to launch a new programme focused on financing African women entrepreneurs to drive the continent’s green energy transition, and we are keen to work with the Tony Elumelu Foundation.”
Deputy GMD, United Bank for Africa, Muyiwa Akinyemi announced, “For us, UBA, we give market access into 20 geographies in Africa. Everything that we do is around Africa, and that is why we have partnered with the Afrexim Bank to launch the $6billion fund for SMEs with a focus on import substitution, working in four key areas including climate emission reduction.”
Earlier, Tony Elumelu joined Ajay Banga, President of World Bank Group; Brian Moynihan, Chair of the Board and CEO of Bank of America; Ms. Ruth Porat, President, Alphabet and Google; and Ms. Laurene Powell Jobs, Founder & President of Emerson Collective as a panelist in a session titled “Big, Audacious and Green: A Convergence of Visionaries,” moderated by President of World Economic Forum, Børge Brende.
On Sunday, Mr. Tony Elumelu, also participated in a fireside conversation with Ms. Teresa Ribera, Vice President of the Government of Spain and Minister for Ecological Transition and Demographic Change, moderated by Sec. Hillary Rodham Clinton, and with closing remarks from Dr. Tedros Adhanom Ghebreyesus, Director-General, World Health Organization.
The Tony Elumelu Foundation is the leading philanthropy empowering a new generation of African entrepreneurs, driving poverty eradication, catalysing job creation in all 54 African countries, and ensuring inclusive economic empowerment.
Since the launch of the TEF Entrepreneurship Programme in 2015, the Foundation has connected over 1.5 million young Africans on its digital hub, TEFConnect, and disbursed nearly USD$100 million in direct funding to 18,000 African women and men, who have collectively created over 400,000 direct and indirect jobs. The Foundation’s mission is rooted in Africapitalism, which positions the private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the African continent.
