Pepperoni Foods, Chocolate City Win Continental Entrepreneurship AwardsFOUNDER of the Tony Elemelu Foundation and former Group Managing Director of United Bank for Africa, Mr. Tony Elumelu, has called for institution of measures that will encourage massive investment in Africa, saying the continent cannot effectively grow its economy if it closes its borders against the rest of the world.Speaking with The Guardian shortly after his keynote address at this year's Convergence Africa, a pan-Africa entrepreneurship development forum, held in Kenya last week, Elumelu called for investment in infrastructure needed to boost regional trade.On how African countries could be mobilised for economic emancipation, he pointed out the African Union (AU) as a useful platform. He, however, said the organisation's present political character needs be retooled to serve the purpose effectively.He argued that the body has served its usefulness as decolonisation vehicle, calling on business leaders and concerned stakeholders to engage its leaders with the view of making the union more relevant to the current economic needs.The retired banker observed that a regional convergence (which a reviewed AU can serve) is required on a number of economic issues including how to properly engage Chinese, who have become very visible in the continent. According to him, it does not work if individual countries continue to deal separately with them.He charged leaders of the continent to create an enabling environment that support regional collaborations and that will encourage massive investments in different sectors, including the entire chain activities in the extractive industries.According to him, it will be difficult to achieve the kind of development Africa desires unless leaders free the economy for open participation and support economic activities with functional infrastructure.He said the expansion of the bank from a single country operation to a pan-African banking and financial services group that today has presence in 19 countries in the continent with tremendous impact on payment system and facilitation of intra-Africa trade is a representation of the kind of vibrancy African companies need to turn around the fortune of the continent.Elumelu, who is also the Chairman of Transcorp Plc, declared: 'Africa is the next frontier but this will not happen if the leaders do not show confidence in the domestic market. Everyone has a role to play. We must create a pool that attract those in the Diaspora to come back home.'Also, world's leading entrepreneur and founder of Virgin Group, Sir Richard Branson, said political leadership is a critical factor that shaped the growth of African economy in the past 50 years, concluding that 'countries in Africa need better leadership.'He continued: 'Africa needs honest politicians. I believe the media are better positioned to fish out dishonest politicians. Politicians who accept bribes should get equal jail terms alongside those who give them bribes.'Branson, who was a keynote speaker at the business forum stated that in spite of his divestment from legacy Virgin Nigeria, he still has business interest in Nigeria and West Africa. He pledged to continue to explore available opportunities in the interest of the region.The business icon called on the global community and employers to consider the option of part-time jobs as part of the solution to creating jobs for more people. He believed that more people would be engaged if there were a flexible system that allow employees to work less hours.'In difficult time, people should learn to share available jobs,' said Branson, adding that robust corporate responsibility (CSR) is a critical solution to current socio-economic challenges across the world.Meanwhile, three Nigerian companies made the final list of top 10 firms in this year's African Awards for Entrepreneurship with two emerging winners. Pepperoni Foods, a Niger Delta-based eatery, and Chocolate City Group, another Nigerian firm, along other four went home with $50, 000 (prize of the award) each. Other companies that won the category were Unique Solutions (he Gambia), Victoria Seeds (Uganda), Sole Rebels (Ethiopia) and Expand Technology (Mauritius).First Atlantic Semiconductors and Microeletronics was the third firm selected from Nigeria, the only country that had more than one representative.Managing Director of Pepperoni, Eric Idogun, who said it was the first award he ever received, said it would motivate him to do more for communities he operate. The company, which started operations from a single outlet in Beyelsa in 2005 and currently runs five branches in the state and Rivers, got the award on the basis of its robust corporate social responsibility (CSR) programmes.Securico, a Zimbabwe civil security firm run by a woman, won the star prize of the competition organisers described as rigorous and thorough. The grand winner was given a cheque of $100,000.Member of the panel of judges and CEO of Alitheia Capital, Tokunboh Ishmael, who presented the grand award, said the winners have become role models to aspiring entrepreneurs. The awards, she said, meant they are among the best in their fields of operation.The African Awards for Entrepreneurs is organised by Legatum while the awards are endowed by a number of corporate organisations, including Coca-Cola and Kenya Airways. Each year, a number of young entrepreneurs are given financial lift.
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