Business: What would USD$5,000 do for your young business?

UBA Group Chairman when he call on H.E. Uhuru Kenyatta at State House during his recent visit to Kenya
Kenya’s President H.E Uhuru Kenyatta with Tony Elumelu, Chairman UBA PLC

United Bank for Africa Plc Group Chairman Tony Elumelu visited Kenya and held talks with the President of The Republic of Kenya, H.E Uhuru Muigai Kenyatta. The talks were part of his Africa tour of countries that UBA is present. During the Meeting with  President Kenyatta, Mr. Elumelu expressed the banks intention to align it’s local strategy with the Big Four Agenda by forging partnerships to support key areas i.e Infrastructure, Energy, Healthcare and Public sector initiatives both at the National Government level as well as at the County Government levels.

United Bank for Africa (UBA Kenya) is fully aligned with the Tony Elumelu Foundation (TEF) objectives of youth empowerment. The Bank recently partnered with the Youth Enterprise Development Fund and the National Youth Service to provide training on financial literacy, skills enhancement and mentorship. Launched in 2015, The Tony Elumelu Foundation Entrepreneurship Programme is the largest African philanthropic initiative devoted to entrepreneurship and represents a 10-year, $100 million commitment, to identify and empower 10,000 African entrepreneurs, create a million jobs, and add $10 billion in revenues to Africa’s economy. Kenya has in 2018 recorded the highest number of applicants in the ICT category.

Beneficiaries of the Tony Elumelu Entrepreneurship Program (TEEF)
October of 2017,  over 2,000 entrepreneurs excited with their ideas gathered in Nigeria’s commercial capital, Lagos, to showcase their businesses and learn from one another under a project founded, funded and run by the Tony Elumelu Foundation – the brain child of African philanthropist and serial entrepreneur Tony O. Eumelu. These entrepreneurs were beaming with enthusiasm and energy to take back home and implement in their business plans and models after spending two weeks in a boot camp that equipped them with skills on not only growing their businesses, creating networks to market and sell their product and services but also gave each one of them USD $5000 dollars in seed capital to grow and expand their businesses. Some called it a lifetime opportunity.

President Kenyatta who hosted the UBA Group Chairman at state house Nairobi mid April was pleased by the level of investment and confidence demonstrated by the
UBA Plc through it’s local subsidiary. The President reiterated the Kenyan
Governments commitment to ensuring there is a conducive environment for
business and offered to support to the bank achieve it’s objectives.

UBA Kenya has set out strategic projects in seven counties in Kenya that will enhance efficiency as well as enable counties achieve some of the milestones in their manifestos. The Bank currently has invested in the Energy sector especially
within government owned agencies, participating in housing projects through
Public Private Partnerships (PPPs) and ramping up it’s presence in the Manufacturing and Agricultural Sectors in the country.


Twitter: @JoyDoreenBiira

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