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Tag: Africapitalism

Unveiling Heirs Technologies: Pioneering Innovation, Africapitalism in the Tech Landscape

The recent launch of Heirs Technologies, a subsidiary of Heirs Holdings, has ignited excitement and anticipation in the African tech community, heralding a new era of groundbreaking solutions and transformative impact.

Heirs Technologies has already positioned itself to train 100,000 young people on digital skills, this year.

More so, the company aims to herald the concept of Africapitalism – the economic philosophy developed by Mr. Tony O. Elumelu, the founder and chairman of Tony Elumelu Foundation which is predicated on the belief that Africa’s private sector can and must play a leading role in the continent’s development.

Heirs Technologies’ vision

Dr. Fumbi Chima, a Nigerian-American technology executive, and the chairman of Heirs Technologies, reechoed this vision on Wednesday during a ‘meet and greet’ event, to introduce the tech company to the media.

She reiterated that Heirs Technologies is here to answer the Africapitalism call-to-action for businesses to make decisions that will increase economic and social wealth, and promote development in the communities and nations in which they operate.

Let’s delve into the journey and vision of Heirs Technologies as it steps into the spotlight of the tech world.

A Visionary Beginning

According to Dr. Chima, Heirs Technologies emerges on the scene with a vision that transcends conventional boundaries, aiming to revolutionize diverse sectors through cutting-edge technology solutions.

Founded by visionary leader with a passion for innovation, she said, “Heirs Technologies is built on a foundation of creativity, expertise, and a relentless drive to push the boundaries of what’s possible”.

Focused Areas of Expertise

At the core of Heirs Technologies’ mission is a commitment to addressing key challenges and driving positive change, says Obong Idiong, the managing director/chief executive officer.

Obong Idiong, explaining the vision of Heirs Technologies, as Dr. Fumbi Chima, observes.

He said that with a multidisciplinary approach, the company specializes in several key areas:

Artificial Intelligence (AI) and Machine Learning (ML):

Also, Heirs Technologies harnesses the power of AI and ML to develop intelligent systems that optimize processes, enhance decision-making, and unlock actionable insights from data.

Cybersecurity and Data Privacy:

Recognizing the critical importance of cybersecurity in today’s digital landscape, Heirs Technologies offers robust solutions to safeguard sensitive information and mitigate cyber threats.

Cloud Computing and Infrastructure:

Leveraging cloud technologies, Heirs Technologies enables scalability, flexibility, and efficiency for businesses, empowering them to embrace digital transformation seamlessly.

IoT and Connectivity Solutions:

With a focus on the Internet of Things (IoT), Heirs Technologies designs interconnected systems that drive innovation, improve operational efficiency, and create new avenues for growth.

“Heirs Technologies understands the power of collaboration and partnerships in driving innovation and fostering growth.

“We actively engage with industry leaders, academic institutions, startups, and government bodies to create a vibrant ecosystem of knowledge sharing, co-creation, and collective impact”, Idiong said. “By forging strategic alliances and alliances, Heirs Technologies accelerates the pace of innovation and expands its reach across diverse markets and sectors”.

“As action-oriented company we have already commenced the process to train 75,000-100,000 young people on relevant digital skills.

“We are not just teaching them about hardware and software, we are setting them on the path of soft skills for them to unleash their creative thinking, design thinking and become more relevant in today’s workplace and entrepreneurship”, he added.

Commitment to Sustainability and Social Impact

Speaking further, Anant Rao, the executive director, Heirs Technologies, said, beyond technological advancement, the company is committed to sustainability, ethical practices, and social responsibility.

He highlighted how the company integrates principles of environmental stewardship, diversity, equity, and inclusion into its operations, aiming to make a positive difference in the world while delivering value to stakeholders and communities.

Obong Idiong, MD/CEO; Fumbi Chima, Chairman – Heirs Technologies

Future Outlook and Expectations

As Heirs Technologies embarks on its journey, the tech community eagerly anticipates the unveiling of groundbreaking products, solutions, and initiatives.

With a team of visionary leaders, top-notch talent, and a passion for innovation, Heirs Technologies is poised to make a lasting impact, driving progress, and shaping the future of technology in profound ways.

Thus, the launch of Heirs Technologies represents a significant milestone in the tech landscape, heralding a new chapter of innovation, collaboration, and positive change.

As Heirs Technologies sets its sights on pioneering solutions and driving transformative impact, the world eagerly awaits the next wave of technological marvels that will emerge from Heirs Technologies’ visionary endeavours.

March 29, 2024
Harvard Spotlights Tony Elumelu Foundation as Case Study in its Curriculum

The Harvard Business School, the graduate business school of Harvard University, is set to cast the attention on the Tony Elumelu Foundation (TEF), recognising the Foundation’s extraordinary philanthropic achievement in a groundbreaking case study.

The case study, first of its kind on any philanthropic organisation in Africa, is to be launched today, before a class of graduate students in Boston, Massachusetts and will explore the Foundation’s unique approaches and transformative initiatives, showcasing how strategic philanthropy offered by TEF is driving positive change and elevating countries and communities.

This move by Harvard, according to Independent report, underscores the Foundation’s pivotal role in empowering young African entrepreneurs across all 54 African countries and places the Foundation at the forefront of global discussions on transformative and catalytic philanthropy, acknowledging its significant contributions towards fostering entrepreneurship in Africa.

In addition to delving into the foundation’s innovative approaches and the resultant impact it has garnered over the years, the event will also feature an exclusive acknowledgment of the Founder of TEF, Tony Elumelu’s economic philosophy of Africapitalism, which positions the private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the African continent.

The Tony Elumelu Foundation is the leading philanthropy, empowering a new generation of African entrepreneurs, driving poverty eradication, catalysing job creation across all 54 African countries, and increasing inclusive economic empowerment.

Since the launch of the Tony Elumelu Foundation Entrepreneurship Programme in 2015, the Foundation has trained over 1.5 million young Africans on its digital hub, TEFConnect, and disbursed over USD$100 million in direct funding to 20,000 young African women and men, who have collectively created over 400,000 direct and indirect jobs.

Tony Elumelu who spoke on the impact of Tony Elumelu Foundation on the African youth said,

“TEF is creating economic hope and opportunity for African Entrepreneurs. We know that entrepreneurship is the antidote to poverty, youth unemployment and insecurity.

Through the intervention of the Tony Elumelu Foundation, we are encouraging our young people, giving them hope through the seed capital we provide, capacitising them through the training and mentoring we provide and setting them up to create businesses that will succeed and create even more jobs. Collectively we are fixing the challenges that we have on the continent.”

February 29, 2024
OPEN LETTER: Tony Elumelu shares key values African Entrepreneur must pursue in 2022

Tony Onyemaechi Elumelu (CON), a Nigerian economist, entrepreneur, and philanthropist has penned an open letter to African entrepreneurs. The founder of the Tony Elumelu Foundation is propagating the message of ‘Africapitalism’.

The coinage signifies an economic philosophy predicated on the belief that Africa’s private sector can and must play a leading role in the continent’s development.

So, as Tony Elumelu Foundation (TEF) kicked off applications for the Tony Elumelu Entrepreneurship Programme (TEEP) 2022 (SEE DETAILS HERE), the founder found it necessary to write the African Entrepreneur out there on three key values to work on this year:

Tony Elumelu’s Open Letter African Entrepreneur:

We all did it…. We made it through 2021. Another year of the global pandemic, uncertainty, challenge, but also opportunity.

As we enter 2022, I wanted to write personally, as we plan for the future and create new goals. I want to share a little of my own story and what I call the #TOEWAY and the core values that guide me. These values have helped me personally and professionally, and are incredibly important for every young African entrepreneur to imbibe, learn, thrive, and grow from.

The first is Execution.

Execution demands that we focus on results. It gives us a sense of urgency. A commitment to our objectives. We must be meticulous. There is a discipline of getting things done.

TEF alumni interactive Session with President Emmanuel Macron and Tony Elumelu

There is a temptation to put things off – we should shun excuses, and needless explanations. Remain driven and committed to that goal. Committed to going that extra mile. Be known for your dependability, and be consistent in delivering results.

The second is Excellence.

To achieve excellence, there must be a sense of professionalism across everything you do. You cannot be guided by the short term or emotional sentiments. Strive to be fair and objective at all times. Lead with integrity. Be exceptional, stand out for your disciplined and rigor.

Prioritize your customers and give them the best experience that you can offer. Be respectful of your peers, subordinates and leaders.

Our final value is on Enterprise.

What is enterprise? It is about doing things differently – to seek out new ways. Not change for changes sake, but because our increasingly complex world demands new answers to new challenges. It is the essence of entrepreneurship. It is what can set you apart, raise you up, change your life – and those around you.

As my wife, Dr. Elumelu stated in a recent interview, your generation, in addition to being smart and technology savvy, is entrepreneurial. You have refused to follow the traditional paths that we took in our day, where a lawyer was just a lawyer, who gradually and patiently climbed the career ladder, or a doctor was just a doctor or an engineer just an engineer.

This generation is entrepreneurial and solutions-driven and so, are applying their academic knowledge along with digital savvy to solve endemic social and economic issues. Your businesses have improved the ease of cross-border payments, intra-Africa logistics, and even improved representation in new tech-driven sectors – it knows no boundaries.

I was born in Africa, raised in Africa, studied in Africa, worked in Africa, and have achieved success in Africa. Beyond business success, one must always look for ways not only to give back, but also to empower the generation coming behind us so that they can go even further than we have. That is how we can enact this social and economic change that we are all seeking in our continent and in our world today. As a parent, one’s desire is for your children to do better and so we strive to provide the resources and materials that they need to ensure that they go far in life. Similarly, at the Foundation, we are equipping the next generation with the tools they need to succeed.

Tony Elumelu Foundation mentorship programme

Indeed, we are committed to your future. I am invested in your success. Your success is our success. This year, the Tony Elumelu Foundation received 406,257 applications from all 54 African countries and provided training to 206,550 – more than 50% of applicants. This year alone, we disbursed USD$24.75m to 5,000 African entrepreneurs, demonstrating our mission to catalyse economic growth, drive poverty eradication and ensure job creation on the continent.

This is why on this first day of 2022, we are opening the 2022 Tony Elumelu Foundation Entrepreneurship Programme Application portal on tefconnect.net! Entrepreneurs from all 54 African countries can apply for the opportunity of a lifetime to receive $5,000 non-refundable seed capital, world-class business management training, mentorship, and access to key networks and markets.

I am a product of luck and hard work and know first-hand that these factors are inextricable if you want to succeed.

If you wonder how you can achieve your goals, as I have said earlier, know that the first step is to be disciplined. Choose discipline as your daily practice.

Nurture the mindset of longevity in all areas of your thinking. Embrace challenges; there is no success without sacrifices. Whether it is in your business, personal life or relationships, a new year is a clean slate. It is a chance to set goals, commit to them, and prepare your mind for the discipline that is required for growth and success.

For many young people, beginnings can be scary and uncertain, charged with many decisions to make and ambitions to fulfil. You know that you are increasingly ambitious. Take advantage of this opportunity of the Tony Elumelu Foundation Entrepreneurship Programme to drive change in your life, in that of your family, your local community!

As we usher in the 3^rd year of living through a pandemic, do not to lose hope. Entrepreneurship is years of hard work, long hours, and unquantifiable sacrifices. Your capacity to thrive and remain committed despite temporary setbacks, will have significant impact in realising your dreams.

Let us all look forward to a productive year ahead of achieving all of our goals.

To those who have not yet been awarded, do not forget to apply on tefconnect.net, and please share with a friend!

Signed:

Tony Elumelu

January 3, 2022

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