Home More Explainers French President, Macron, signs €1bn agreement with TEF
Explainers - July 5, 2018

French President, Macron, signs €1bn agreement with TEF

The French government has signed a partnership agreement worth one billion euros with Tony Elumelu Foundation (TEF) to further encourage the development of finance and entrepreneurship in Africa. The agreement was signed on Wednesday at an open forum session in Lagos hosted and moderated by TEF Founder and Heirs Holdings cum UBAChairman Mr. Tony Elumelu.

The open forum provided African entrepreneurs the platform to closely engage with President Macron, learn from his experience as one of the youngest leaders and as an advocate for entrepreneurship while building partnerships with French and African business leaders and policymakers

Announcing the deal Macron had said the program was aimed at building on the current achievements of TEF across Africa.

Elumelu while delivering his speech also emphasized the objective and program of TEF.

“President Macron’s recognition that African entrepreneurs are the key to Africa’s economic transformation and his desire to connect with and elevate the voices of future leaders is transformational. It is our privilege to host the President and it is a clear acknowledgment of our core belief that entrepreneurship is the catalyst for the social and economic development of Africa. How better to reach the most catalytic young minds in Africa than through TEF’s unique network of hundreds of thousands of Africa’s brightest young entrepreneurs?” he said.

President Macron who arrived Abuja earlier on Tuesday, met with President Muhammadu Buhari to discuss plans to forge closer ties between France and Nigeria and to improve trade with French colonies and other Anglophone countries. He’s also visited Fela’s Afrika Shrine, hailing Nigerian Afrobeat legend Fela Kuti, the African culture and the resilience of Africans.

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