3 Out-takes from billionaire Tony Elumelu’s Kenyan visit to UoN

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Mr. Tony Elumelu spook to hundreds of entrepreneurs on Friday, April 13, 2018, at the Chandaria Auditorium, University of Nairobi. Tony Elumelu is the Chairman of UBA Bank, which operates in 20 countries in Africa, with over 15 million customers.

Speaking during a public lecture at the University of Nairobi, Mr. Elumelu urged entrepreneurs to continue working on their crafts despite the difficulties.He shared a few nuggets of wisdom with those present. Here are a few of his most memorable talking points:

READ: Tony Elumelu to empower 3000 African entrepreneurs

1.Failure is part of the process

“Behind every successful man, there is always a number of failed attempts. Keep working on your passions. The road to success is possible…Think Big. Think long term. Start Small. Failure moments are there, but don’t give up, you will succeed ultimately. Always stay hungry.

2. Success is shared

Speaking on the importance of success, Elumela said: “Success is good for your village, your community, your country and your continent.” Thinking of your dream as a contribution to society and its future is essential to staying committed to pursuing your dreams.

3.Training is essential

Mr. Elumelu has been keen on supporting development agencies that help ideas come to fruition. “We do training, mentorship, and funding. Those are the problems of young startups that we are trying to fix, “said Mr. Elumelu.

 

The Tony Elumelu Foundation has been keen on infrastructure and energy. They as well finance infrastructure development, energy, and ICT in conjunction with African governments. The reason behind technology funding is primarily because ICT has the ability to create millions of jobs for the young people. He urged entrepreneurs to embrace technology to develop their country.

On capital requirements by startup businesses, Mr. Elumelu observed that the foundation is key on funding ideas to help them grow, scale up and reach a level where big investors can take them up and help them reach the IPO (Initial Public Offering), where the owners can make big money.

For more information on the Tony Elumelu Foundation visit the website.

This article was first posted on the University of Nairobi site.

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