Business

Elumelu bails out 300 SMEs

Tony Elumelu

TRYNESS TEMBO, Lusaka
THE Tony Elumelu Foundation (TEF) has awarded 300 small and medium-sized entrepreneurs (SMEs) in Zambia with a seed capital of US$5,000 each to help them grow their businesses.
And 142 Zambian youths have received a combined total of US$710,000 non-refundable seed capital.
Founder Tony Elumelu said they will this year assist SMEs and young entrepreneurs recover from coronavirus.
Mr Elumelu, who is also United Bank for Africa (UBA) chairman, said SMEs are critical for the private sector which is essential for economic growth.
“We believe beneficiaries will be catalysts to economic development. We want to continue developing Zambia and we want the young people to continue benefiting from the foundation,” he said when he met the CLICK TO READ MORE


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