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Elumelu Takes Africapitalism to Saudi Arabia; Says Entrepreneurship & Gender Equality will Drive Economic Diversification in the Middle East and Africa

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Riyadh, Saudi Arabia, October 24 2017― Chairman, Heirs Holdings and Founder, The Tony Elumelu Foundation, Tony O. Elumelu, CON joined global private sector leaders at the Future Investment Initiative Conference in Riyadh, Saudi Arabia yesterday to discuss ways to achieve economic diversification in dynamic economies. The conference was organised by the Public Investment Fund.

Speaking on the distinguished panel of speakers including Mary Erdoes, CEO, JPMorgan Asset Management, USA; Oh Joon Kwon, Chairman, POSCO, South Korea; Frédéric Oudéa, CEO, Société Générale, France; Harvey Schwartz, President & Co-COO, Goldman Sachs, USA; and Sultan Ahmed Bin Sulayem, Chairman & CEO, DP World, UAE, Elumelu cited entrepreneurship and gender equality as two critical areas that need urgent attention to drive the inclusive growth and economic diversification in emerging continents like Africa.

Of achieving gender equality, Elumelu pointed out the importance of supporting women-run businesses to achieve inclusive growth stating that these businesses empower a critical population of the economy. “Female businesses create more benefits for the society,” he said.

An advocate of a new model for entrepreneurship in Africa, through his philosophy, Africapitalism, Elumelu spoke on the role Africapitalism plays in powering Africa out of poverty. “Africapitalism is the intersection between prosperity and social wealth – doing good while making profit. It is a realisation that the private sector has a role to play in the social and economic diversification. We need to prioritise the young ones and prioritise SMEs if we are to achieve the much spoke about economic diversification,” he said.

Also speaking on the topic, Sultan Ahmed Bin Sulayem identified entrepreneurship as a key driver of today’s economy. “When we encourage entrepreneurship we encourage ideas,” he said.

Elumelu has demonstrated the potential of his Africapitalism model through his Foundation’s flagship Programme―The Tony Elumelu Foundation Entrepreneurship Programme―where he endowed 10,000 African entrepreneurs with $100million over a 10-year period with the goal of achieving 10million jobs within the period. Already, the Programme has celebrated its 3rd cohort of Fellows bringing the total number of beneficiaries to 3,000 since its inception in 2015, creating an impact will significantly transform the African continent.

“Entrepreneurship is a bottom-up approach to economic diversification. It is about trying to encourage our youths to be more enterprising, ultimately realising that they will drive the diversification process,” Elumelu said.

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Pretty Lady Who Recently Got Married Dies During Child Birth

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A beautiful Ghanaian lady simply known as Nadia has lost her during childbirth months after tying the knot in a glamorous wedding ceremony earlier this year.

Ghanaian social media activist, Inusah Kate Gyamfua broke the sad news via his personal Facebook page.

It was learnt that the baby survived and has been kept in an incubator.

Hundreds of comments and reactions poured in over the post as many social media users were shocked by the news of such a fresh marriage ending in an abrupt sorrowful end.

Gyamfua shared her photo with the caption;

Married 2020.
Died 2020💔
Baby in incubator
Hmmmm…. 2020💔😭
Such a Painful Death😭😭😭😭😭
RIP NADIA😭😭😭😭😭😭

See the post below;

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Court To Begin Nnamdi Kanu’s ‘Treason’ Trial In Absentia

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Court To Begin Nnamdi Kanu’s ‘Treason’ Trial In Absentia

IPOB Leader, Nnamdi Kanu

A Federal High Court sitting in Abuja, Nigeria’s capital, is set to commence the trial of the leader of the Proscribed Indigenous People of Biafra (IPOB), Nnamdi Kanu.

The trial of the IPOB leader has been scheduled for November 26th and will see five prosecution witnesses lined up to testify against Kanu.

Also Read: Wike Ordered Police, Army To Kill IPOB Members, Nnamdi Kanu Alleges

This was disclosed in a hearing notice served on the prosecution team in the office of the attorney general and Kanu’s lawyer, Ifeanyi Ejiofor.

Kanu is facing charges bordering on treasonable felony instituted against him in response to years of campaign for the independent Republic of Biafra through IPOB.

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Court Orders Reps Member To Produce Fleeing Maina’s Son Within Nine Days

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JUST IN: Court Orders Reps Member To Produce Fleeing Maina’s Son Within Nine Days

Abdulrasheed Maina’s son

House of Representatives member, Umar Sani Dan Galadima has been asked to produce Faisal, the son of Abdulrasheed Maina, who is believed to have jumped bail on or before December 4.

Faisal is being prosecuted before the court on money laundering related offences and was granted bail in 2019.

Honorable Galadima who is representing Kaura Namoda Federal Constituency of Zamfara State is standing surety for Faisal after signing a N60 million bond.

Also Read: BREAKING: Court Fixes Date For Ndume’s Bail Application

Justice Okon Abang in a ruling on Wednesday ordered Dan Galadima, who was present in court, to show cause by December 4 why he should either not forfeit the N60 million he pledged while taking Faisal on bail, or be sent to prison until he is able to produce the defendant.

Recall that on Monday, Justice Abang sentenced Senator Ali Ndume who is a surety for the former Chairman of the defunct Pension Reform Task Team who has also jumped bail.

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