The Tony Elumelu Foundation, together with professors from the Massachusetts Institute of Technology, the University of Chicago, and Columbia University, have drafted a study with rich insights into entrepreneurship in Africa.

The full research piece can be accessed here.

The evaluation uses a randomised control trial methodology to compare otherwise similar applicants who embarked on our flagship programme versus those who did not. This is an important milestone as the Foundation redoubles its efforts in focusing on impact outcomes: in measuring key outputs and in communicating these results.

The study is in the process of tracking entrepreneur outcomes such as success in opening a business, income, number of employees, and business sales. We expect final results in late 2024 which will help to further demonstrate how we are tackling the most difficult issues like poverty, climate change, fragility, and food insecurity. These outcomes will also be presented in a way that allows our audiences to disaggregate results by gender, youth, region, country, and other parameters.

In a second, related experiment we have explored how messaging affects entrepreneurial ambitions. Notably, the study uncovers a remarkable resilience among African entrepreneurs, with many demonstrating high levels of optimism despite initial setbacks.

Click here to read the full report.