1,000 WAYS TO TRANSFORM AFRICA 2017 APPLICATION DEMOGRAPHY REPORT

Transcription

1 1,000 WAYS TO TRANSFORM AFRICA 2017 APPLICATION DEMOGRAPHY REPORT

2 1,000 WAYS TO TRANSFORM AFRICA: 2017 APPLICATION DEMOGRAPHY REPORT 2017 The Tony Elumelu Foundation Application assessment by Accenture Development Partners

3 FOREWORD We are pleased to present The Tony Elumelu Foundation (TEF) Entrepreneurship Programme Application Demography Report. The Report provides an analysis of the more than 93,000 expressions of interest we received in 2017, the 3rd cycle of our groundbreaking entrepreneurship programme. These applications, provide access and insights into African start-ups and early stage enterprises who are currently strting a business or have started a business within the last three years; high growth sectors which offer the greatest business opportunities; demographics and women led businesses who collectively have the potential to catalyze Africa's economic transformation. The report is a comprehensive review of the selection processs and the pipeline of talented entrepreneurs that we are selecting each year from across the continent to receive training, mentoring and funding. The Foundation's main focus is based on the Founder's legacy to empower a generation of successful entrepreneurs who enable the economic and social development across Africa through entrepreneurship. Our Programme is rooted in our core philosophy of Africapitalism, which promotes long-term investment in strategic sectors that will create economic and social wealth; deliver financial returns for shareholders as well as social dividends for society. The Foundation advocates for more local value creation, intra-african trade and investment, regional integration and the development of local human capital and other capacities of African entrepreneurs. The Foundation's programmes and activities are designed to empower African entrepreneurs, institutionalise luck, democratise opportunity and create an enabling business environment where entrepreneurship can flourish in a sustained manner. The design and development of the TEF Entrepreneurship Programme directly responds to this challenge and is open to any African entrepreneur, regardless of nationality, gender, faith, age or sector, who has a transformative and a scaleable business idea, the drive to succeed and to compete to be one of the best 1,000 ideas selected over the next 10 years. With the establishement of the programme, we seek the participation of both the global and African private sectors alike to support the ambitions of Africa's budding entrepreneurs. Based on the data we gather from the tens of thousands of applications which we receive from every corner of Africa each year, we conduct crucial research and develop policy to improve the enabling environment for start-ups and entrepreneurs in Africa. In the coming years, we will be able to measure the impact our Programme is having by counting the number of jobs created and revenues generated by our entrepreneurs, the policies we will have helped to reform and the improved perceptions of Africa, as a highyielding destination for the smart long-term investor. One of the most valuable aspects of this report is the examination of African entrepreneurs' sectors of focus, relative to countries and regions. It provides information and market intelligence for academia, institutional investors, corporates and other entrepreneurs looking to gain exposure to the continent's potential. We trust that you will find this guide relevant and useful and we look forward to our incredible continent's economic and social transformation. 3

4 TABLE OF CONTENTS Foreword 3 Executive Summary 5 Introduction 7 About The Tony Elumelu Foundation 8 Some Milestones Application Drive Review 11 The 2017 Figures and Application Evaluation Overview Application Review 13 Observations and Recommendations 20 Evaluation Approach/Methodology 21 Outcome of Evaluation Batch of 10, Outcome of Evaluation 27 Three-year Trend 31 Top 1,000: Statistical Review 33 The Road To 1, Regional, Gender & Sector Analysis of the Selected 1, Three-year Trend Analysis 41 Yearly Application Progression 42 Application Distribution 43 Female Participation 44 Final Selection Distribution 45 Female Finalist Distribution 46 Top 20 Countries 47 Appendix I: 2015 Results 48 Appendix II: 2016 Results 50 Acknowledgments 52 4

5 EXECUTIVE SUMMARY With its teeming, energetic and highly entrepreneurial young population, we are confident that these young Africans hold the key to the economic transformation of the continent. This is what inspired us to launch the Tony Elumelu Foundation Entrepreneurship Programme, a 10-year, US$100 million commitment to training, mentoring and funding 10,000 African entrepreneurs. Indeed, we are already seeing some outstanding entrepreneurs. Momar Taal (2016) credits the Foundation with, equipping me with certain business management principles which I credit for my ability to strategically grow my company and scale my projects across the continent. Before we joined the TEF Entrepreneurship Programme, we had a turnover of $20,000-$30,000. We took the seed capital provided by the Foundation, invested wisely and we did $1.6 million last year and we're on track to do $2 million plus this year, so we're growing rapidly. Stories like these reflect the impact that our Programme has had on incentivized entrepreneurs like Momar Taal and the potential it has, to impact many more entrepreneurs like him. HOW WE REACH THEM During the 8-week application process and a sustained application awareness drive over the same period, we attracted more than 93,000 applications from 55 African countries and 107 countries worldwide. This, despite the obvious challenges of spreading awareness across the continent with the second lowest internet penetration rate. Indeed, the number and country of submissions has a direct correlation with internet penetration. In fact, a significant number of applicants completed their applications on mobile phones. While 79.8% of the 84.7% of applications from West Africa came out of Nigeria, the other countries in Western Africa account for only 4.8% of applications. Not counting the Nigerian applications, Eastern and Southern Africa had more applications per country than did Western Africa; a surprise result which speaks to a combination of internet penetration and the development of the entrepreneurship ecosystem in each region. To reach as many people as possible, a broad array of information media was used to attract applicants. Most applicants were informed by their friends while Facebook led the social media platforms and print media publications followed. In Africa, Facebook is an entrepreneur's space for finding opportunities and business. ENTREPRENEURSHIP IS AN AGELESS GAME Nearly 3,000 applicants were between the ages of 46 and % of applicants were between the ages of 26 and 35, while a combined 80% of applicants were between 18 and 35 years old. In Africa, entrepreneurship is not bound to age and the entrepreneurial thirst is not quenched as time passes. In some ways, this is driven by a lack of respect for retirement age here, however it also reflects the fact that one is never too old to be inspired by the possibility that your ideas have the potential to transform your community, country and continent. 5

6 TAKING IT TO THE ROOTS Agriculture and fashion are the dark horses of our programme. Each year, agriculture business ideas lead in the number of applications by nearly ten points, proving that Africa's entrepreneurs have long embraced agriculture as the root from which our continent's economies will grow. Fashion is another major industry that has gone unnoticed as a key force across Africa but which is bursting with innovative creators. Protectionist policies banning the import of textiles have created room for fashion designers in countries like Nigeria to develop fashion lines and houses based in traditional styles and sense. African fashion borrows from its storytelling roots and investment from internal and external sources will create a burgeoning to feed the $31 billion industry. Women entrepreneurs are considered particularly attractive investment partners so the 3% increase in female applicants was hard fought and won. The Tony Elumelu Foundation believes that for Africa to develop, we need more responsible and responsive leaders like Tony O. Elumelu CON who can grow profitable businesses that respond to the challenges on the continent. We need entrepreneurs who can come up with homegrown solutions to everyday problems on the continent. The data contained in this report provides insight into the entrepreneurs themselves, how to reach them and how to target women for business development programmes. With around 60% of Africans living in poverty, there is urgent need for such leaders who will create prosperity and social wealth to emerge and grow the economy. Through our application process, we now know with certainty that there is a legion of talented entrepreneurs with great ideas across Africa, but we realize there is limited access to the funding and training needed to actualize their potential. 6

7 Introduction 2017 Application Drive Review Evaluation Approach/Methodology Outcome of Evaluation Batch of 10,135 Top 1,000: Statistical Review Three-year Trend Analysis 7

8 ABOUT THE TONY ELUMELU FOUNDATION The Tony Elumelu Foundation (TEF) was founded in 2010 by Tony O. Elumelu, CON, a serial entrepreneur and investor who has a commitment to philanthropy. We are the leading philanthropy in Africa championing entrepreneurship and entrepreneurs across the continent. Our long-term investment in empowering African entrepreneurs is emblematic of Tony Elumelu's philosophy of Africapitalism, which positions Africa's private sector, and most importantly entrepreneurs, as the catalyst for the social and economic develop-ment of the continent. TEF is the philanthropic arm of Heirs Holdings, an African investment firm. We are funded by an annual grant from Heirs Holdings and supported by the group's investee companies. In turn, we provide support to the philanthropic activities of the Heirs Holdings Group. We have also developed our own dynamic and innovative programmes. In 2015, TEF consolidated its various programmes and initiatives and made investing in Africa's next generation of entrepreneurs and business leaders a priority. The future of the Tony Elumelu Foundation centers on the provision of structured, robust, and multifaceted support to entrepreneurs around Africa through the Tony Elumelu Foundation Entrepreneurship Programme. The vision for the foundation is to unlock the obstacles that Africa's entrepreneurs face as they grow their startups into small to medium enterprises (SMEs), their SMEs into national growth companies, and their national growth companies into African multinationals. We will continue to support our growing numbers of Programme alumni, whose inspirational success stories serve as encouragement to upcoming entrepreneurs, and demonstrate the effective-ness of our interventions. As we deepen our reach in Africa, we will continue to enrich these alumni networks, facilitating meaningful conversations and mentor relationships to further assist tomorrow's business leaders. The Foundation has set itself apart from grant-making bodies, by operationalising integrated programmes to support entrepreneurship in Africa and by enhancing the competitiveness of the African private sector. We have built a reputation for successfully imple- menting diverse programmes to achieve this, in-cluding: Promoting entrepreneurship: Elumelu Professionals' Programme (EPP), Nigeria 50, Impact Investments, grant to Co-Creation Hub and now the flagship - The Tony Elumelu Foundation Entrepreneurship Programme; Enhancing competitiveness: National Competitiveness Council of Nigeria (NCCN), Blair-Elumelu Fellows Programme; Selective grant making: Grants to other bodies pursuing aligned and strategic causes e.g. Tony Blair African Governance Initiative, Kofi Annan Foundation, John Kufor Foundation, One Org, Rothschild Foundation; Leadership development: Recognition of excellence through The Tony & Awele Elumelu Prize (TAEP) & The Fellows Programme; and Policy development: Research and advocacy through the research arm (formerly the Africapitalism Institute). 8

9 The Tony Elumelu Foundation is the philanthropic arm of Heirs Holdings, an African investment firm. We are funded by an annual grant from Heirs Holdings and supported by the group's investee companies. 9

10 SOME MILESTONES Each year, we commence the programme activities with renewed vigor and purpose. When the Programme commenced, many were astonished by the audacity of its aims and objectives. Now, entering our third cycle, the programme couldn't be more robust. Our 2015 and 2016 Milestones outlined below, speak for themselves as we have: Provided training, mentoring and funding to 2,000 start-ups in 53 African countries, selected from over 65,000 applications. Invested over $13 million, $10 million of which is seed capital. Gathered thousands of African entrepreneurs in Lagos, Nigeria. Travelled across Africa, introducing the TEF entrepreneurs to political leaders at the highest levels of government Facilitated the creation of Alumni Country Chapters and Networks across the 51 African countries. Leveraged unique data to produce original reports Signed strategic partners including: the Nigerian Ministry for Information and Culture; ECOWAS; International Trade Centre; Microsoft to name but a few. Built Africa's largest online platform, the TEF Hub go-to destination for African entrepreneurs. Produced a documentary film about the groundbreaking first year of the Programme which has since been viewed by more than 1 million people worldwide ,000 START-UPS NURTURED WITH TRAINING, MENTORING & FUNDING $ INVESTED OVER $13 MILLION ($10 MILLION IN SEED CAPITAL) 10

11 Introduction 2017 Application Drive Review Evaluation Approach/Methodology Outcome of Evaluation Batch of 10,135 Top 1,000: Statistical Review Three-year Trend Analysis 11

12 THE 2017 FIGURES AND APPLICATION EVALUATION OVERVIEW The TEF Entrepreneurship Programme is the largest pan African startup incubator. Over 93,0000 entrepreneurs applied in the 2017 cycle from 55 African countries and 1,000 were selected. As in previous years, a careful evaluation process which involved an in-house Selection Committee and Accenture Development Partners (ADP) was followed to select the top 1,000 ideas/businesses for the programme. Stage 1 Stage 2 Stage 3 Stage 4 1,000 Selected 93,246 Total registrations recorded globally on the programme platform 37,935 10,135 1,100 Complete applications screened by the Tony Elumelu Foundation Team Applications evaluated by Accenture Development Partners Applications evaluated by the Tony Elumelu Foundation Selection Committee SCREENED FOR: SCREENED FOR: EVALUATED FOR: EVALUATED FOR: Application completeness Extent of alignment with Foundation's objectives Repeat applications from previous cycle beneficiaries Quality of ideas and potential impact Business Viability Quality of entrepreneurial input Repeat applications from previous cycle beneficiaries Strategic fit with the program Geographical reach Equity (gender, conflict regions, disadvantaged groups) Successful applicants will undergo a developmental programme that will enhance their capacity to successfully nurture their ideas to fruition. The 1,000 selected entrepreneurs will receive support from the Foundation in the form of: Enterprise development toolkit Business-relevant training Mentoring Access to professional networks Business plan development Seed capital of $10,000 in two tranches 12

13 2017 APPLICATION REVIEW Total number of application registrations: 93,246 Total number of registered entrants that started an application for the programme: 84,074 (90.2%) Total number of completed applications from African countries: 37,935 International countries: 135 Total number of represented African countries: 53 Among all entrants 41% submitted their applications. 2 in every 5 applicants submitted % of registrations were by females; 60.83% by males. Some countries had more female than male applicants. Leading industries included Agriculture (28.37%), Fashion (11.34%), Manufacturing (8.13%), ICT (7.77%) and Commercial/Retail (7.12%). A total of 107 countries expressed interest in the programme by applying. Applications were started in 55 African Countries and submitted by 53 Applications were started in 52 International Countries and submitted by 31. Applications from 107 Countries Worldwide 53 African Countries Over 93,000 Applicants Chart showing applications registrations and submissions Week Submissions Registrations 41% Submission Total of 37,935 applicants representing 41% of those that registered on the platform went on to complete their applications. 13

14 Percentage of total applications per week 40% 35% 30% 25% 20% 15% 10% 5% 0% Week % of the total number of applications was received 35% in the last week. FINAL WEEK Age distribution among applicants Under 18 2% Ages % 80% of applicants were youth between 18yrs to 35yrs Ages % Ages % Ages % 2% of applicants did not meet the age restriction because they were under 18 years 14

15 Gender distribution among applicants Male 61% Female 39% There was a 3% increase in female applications to 39.17%, compared to 2016 s figures. Gender count by country Country Female Male Algeria Angola 4 21 Benin Botswana Burkina Faso Burundi Cameroon Cape Verde 4 4 Central African Republic 5 11 Chad 3 41 Comoros 3 6 Congo 8 28 Congo DR Cote D'ivoire Djibouti 6 15 Egypt 9 31 Equatorial Guinea 3 2 Eritrea 1 2 Country Female Male Ethiopia Gabon Gambia Ghana Guinea 2 38 Guinea-bissau 1 0 Kenya Lesotho Liberia Libya 1 1 Madagascar 8 9 Malawi Mali Mauritania 5 10 Mauritius 8 20 Morocco 6 12 Mozambique Namibia Country Female Male Niger Nigeria Reunion 1 2 Rwanda Sao Tome & Principe 3 11 Senegal Sierra Leone Somalia 0 18 South Africa South Sudan 4 14 Sudan 3 11 Swaziland 8 22 Tanzania Togo Tunisia 14 7 Uganda Zambia Zimbabwe Five countries had more female than male applicants; Equatorial Guinea, Guinea-Bissau, Lesotho, Namibia, Tunisia. 15

16 Distribution of applications by stage of business Idea (Concept) 32% Testing (Research & Development) 18% Infancy (Market Entry) Growth 31% 19% Majority of the applications received (81%) were from businesses in the idea to infancy stages Distribution of stages of business by sector Agriculture (Agri-business, Farming) Aviation Commercial/Retail Construction Consulting Education and Training Energy/Power Generation Fashion Financial Services FMCG Haulage/ Logistics Healthcare ICT Manufacturing Media and Entertainment Oil & Gas Professional Services Telecommunication Tourism/Hospitality Transportation Waste Management Growth Idea (Concept) Infancy (Market Entry) Testing (Research & Development) 16

17 Agriculture 28.37% Fashion Manufacturing 11.34% 8.13% ICT 7.77% Others 37.27% Cormercial/Retail 7.12% Top ranking sectors among applicants 63% of applications fell under the Agriculture, Fashion, Manufacturing, ICT and Commercial/ Retail sectors. Regional spread of applications across Africa Western Africa 84.7% Northern Africa 0.4% 79.8% of the 84.7% Western African applications came from Nigeria; the other countries in Western Africa account for only 4.8% of applications. Central Africa 2.7% Southern Africa 2.2% Eastern Africa 10.1% Not counting the Nigerian applications, Eastern and Southern Africa had more applications per country than Western Africa. 17

18 Applications spread across Nigerian States Abia Abuja F.C.T. Adamawa Anambra Akwa Ibom Bauchi Bayelsa Benue Borno Cross River Delta Ebonyi Enugu Edo Ekiti Gombe Imo Jigawa Kaduna Kano Katsina Kebbi Kogi Kwara Lagos Nasarawa Niger Ogun Ondo Osun Oyo Plateau Rivers Sokoto Taraba Yobe Zamfara Applications were received from all states in Nigeria. Lagos, Abuja followed 2016 s trend and led the application race while Oyo surpassed Kaduna to take third place. These top 3 states accounted for 44% of all Nigerian applications

19 Information Media Applicants across Africa were reached with information about the TEF Entrepreneurship Programme through several means including a wide range of information media. Most number of applicants were informed by their friends while Facebook led the social media platforms in extent of reach. YouTube Ads Workshop University Twitter TV - TraceTV TV - National/Local Network TV - CNN TV - Africa24 TEEP Alumni SMS Search Engine Radio Poster Newspaper Media Publication Linkedin advert Instagram Friend Flyer Facebook Internet user distribution Country Population Internet Users % Penetration % Internet Users Language Nigeria 181,562,056 92,699, % 28.00% English Egypt 88,487,396 48,300, % 14.60% Arabic Kenya 45,925,301 31,985, % 9.70% English South Africa 54,777,809 26,841, % 8.10% English Morocco 33,322,699 20,207, % 6.10% Arabic Uganda 37,101,745 11,924, % 3.60% English Algeria 39,542,166 11,000, % 3.30% Arabic Sudan 36,108,853 9,307, % 2.80% Arabic Tanzania 51,045,882 7,590, % 2.30% English Senegal 13,975,834 7,260, % 2.20% French Zimbabwe 14,229,541 6,759, % 2.00% English Tunisia 11,037,225 5,408, % 1.60% Arabic Cote d'ivoire 23,295,302 5,230, % 1.60% French Ghana 26,327,649 5,171, % 1.60% English 19

20 OBSERVATIONS AND RECOMMENDATIONS Observations The number of submissions followed a similar pattern to the internet user distribution in Africa. Based on feedback and interaction, a great number of applicants completed the application form on their mobile phones. 35% of applications were submitted in the final week before the application portal closed. Majority of the applications received (81%) were newly conceived ideas and businesses in the testing and infancy stages. Recommendations Pop-up Information bubbles could be available for all questions to help applicants understand the questions better. Lo-res version of the application form could be available for those accessing the portal via mobile or with slow internet. Drive for submissions could commence earlier to reduce the last minute surge of applications. Applicants could be given the option of selecting whether their business is still an Idea or In Operation early in the application, and this function will allow the form be restructured to suit their selection. 20

21 Introduction 2017 Application Drive Review Evaluation Approach/Methodology Outcome of Evaluation Batch of 10,135 Top 1,000: Statistical Review Three-year Trend Analysis 21

22 EVALUATION APPROACH / METHODOLOGY As in previous years, the Application Evaluation exercise of the 2017 TEF Entrepreneurship Programme was driven by key factors to ensure that the process is transparent, credible and rigorous. Accensure Development Partners (ADP) team evaluated 10,135 applications in Stage 3 of the application review exercise, over a 7-week period (February 1st March 13th 2017). The business entries were evaluated across 5 agreed criteria, using the methodology detailed on the table below. Applications scoring above 72% after initial evaluation were reviewed again in another exercise to rank and select the top 1,000 entrepreneurs for the 2017 cycle. A total of 1,580 applications made it to the 72% scoreline. The following key considerations ensured end-to-end quality: 1. Interpretation & Application of Evaluation Criteria All applications were evaluated based on five (5) agreed assessment criteria: # Criterion Weight Remarks on Interpretation 1 Feasibility 20% Unique,original, innovative Jobs, wealth creation potential Sustainable, commercially viable 2 Market 25% Clear & apparent market for proposed product/service Opportunity Applicant understands market, customers, competitive & regulatory landscape 3 Financial 10% Basic financial understanding of revenue streams, cost Understanding drivers, and financing needs 4 Scalability 30% Potential to replicate across community, regional, national and continental 5 Leadership & 15% Passion and commitment Entrepreneurial Previous accomplishments with respect to mobilizing Skills people and resources Experience and technical expertise These assessment criteria were simplified into a total of 29 Yes/No weighted questions. The final score for each application was based on the aggregate of points on the questions that earned a "Yes" answer. The 29 Yes/No questions are detailed on the next page... 22

23 Interpretation of Evaluation Criteria (Viability of Idea/Business) Criteria Description Points Total Score Has this entrepreneur defined the features of his/her product/service? 4 Has this entrepreneur defined the benefits of his/her product/service? 4 Feasibility Is this business practical will people be willing to pay for this product or service? 4 Is this business solving a problem in a new way that could lead to improved efficiencies, added value to customers, etc.? 3 Is this business tapping into a new market that no one else has been able to reach or solving a problem no one else has addressed? 3 Does this business have the capacity to create jobs for up to 10 people? 2 20 Points Market Opportunity Is the market for this product/service sizeable enough to justify investment in this business? 5 Has this entrepreneur sufficiently described how his/her business will generate income, and earn profits? 5 Has this entrepreneur provided a workable marketing or advertising strategy for his/her product/service? 5 Has this entrepreneur defined the target market or market segments for his/her product/service? 4 Has this entrepreneur positioned his/her product/service favorably against competitors? 4 Has this entrepreneur set price? 2 25 Points Scalability Can this business model/idea be replicated outside this entrepreneur's immediate community/current market? 5 Will this business be able to multiply its revenue (increase production, service lines, etc.) while keeping expenses as low as possible? 5 Are there opportunities for this business to use automation (technology) to improve margins and reduce operational costs? 5 Will this business be able to surmount cultural barriers to enable it expand to other geographies within Africa? 4 Will this business be able to surmount legal/regulatory barriers to enable it expand to other geographies within Africa? 4 Will this business have adequate access to raw materials (if applicable) or critical skills if it decides to expand beyond its current market? 4 Has this entrepreneur demonstrated a desire to scale his/her capability? 3 30 Points 23

24 Interpretation of Evaluation Criteria (Credibility & Acumen of Entrepreneur) Criteria Description Points Total Score Does the logic for making money (revenue) in this business add up? 3 Financial Understanding Based on the type of business identified, does the current expense reflect all the possible operating costs associated with running this business? 3 Is the financial forecast for this business realistic/based on reasonable assumptions? 2 Does the break-even revenue/volume reflect the time value of the invested cash/cash to be invested, given the price of the product involved? 2 10 Points Leadership & Entrepreneurship Skills Has this entrepreneur demonstrated ability to influence, lead or motivate people in any capacity? 3 Has this entrepreneur demonstrated ability to manage resources (time, money, materials)? 3 Is this entrepreneur's desired impact in line with the TEF's goal of increasing jobs, building businesses and creating wealth across Africa? 3 Do the outlined business challenges show a true understanding of the industry this entrepreneur is operating in? 2 Has this entrepreneur honestly identified his/her skill gaps as areas to learn about? 2 Are the current and next milestones demonstrative of a desire for accelerated but realistic progress of his/her business? 2 15 Points 24

25 2. Evaluation Process Quality Assurance The scoring guideline below was used to validate the first stage ratings and minimize the impact of Score Band Ranking VERY HIGH Scoring Standard Business idea is a game changing one, very innovative, and meets the 3 criteria below: Sound and well-articulated revenue model Sound and well-articulated marketing model (target market, competition, product differentiation) Clearly demonstrated leadership skills and experience of applicant HIGH Business is a game-changing one, similar to 90% and above, but has either not articulated a sound revenue model or marketing model, or demonstrated the applicant's leadership & entrepreneurship abilities (missing 1 of the 3 criteria) HIGH MEDIUM Business is a regular entrepreneurship (teaching, tutoring, farming, sales, fashion design, etc.) that has a well-articulated revenue model and marketing model, and in which the leadership/ entrepreneurship skills of applicant are clearly demonstrated (meets all 3 criteria) OR Business is a game-changing one that has not articulated a sound revenue model, sound marketing model or demonstrated the applicant's leadership & entrepreneurship abilities (missing 2 of the 3 criteria) LOW MEDIUM BAND 2 LOW MEDIUM BAND 1 LOW Business is a regular entrepreneurship (similar to 70-79% bracket), but has either not articulated a sound revenue model or marketing model, or demonstrated the applicant's leadership & entrepreneurship abilities (missing 1 of the 3 criteria) Business is a game-changing one that has not articulated a sound revenue model, a sound marketing model or demonstrated the applicant's leadership & entrepreneurship abilities (missing all of the 3 criteria) Business is a regular entrepreneurship, but application had severe information gaps or displayed poor familiarity of applicant with industry Generic business with insufficient information to justify the need for investment or applicant's familiarity with the industry 0-20 VERY LOW Applicant was incoherent it was difficult to understand what the business idea was about Applicant left key information fields blank Applications that scored 72% and above in the first stage were further assessed by a team of Senior Evaluators leading to the final ranking of applications as shown in the table below: Ranking HIGH MEDIUM LOW Score Band <=60 25

26 Introduction 2017 Application Drive Review Evaluation Approach/Methodology Outcome of Evaluation Batch of 10,135 Top 1,000: Statistical Review Three-year Trend Analysis 26

27 OUTCOME OF EVALUATION Distribution of all 10,135 screened applications by African region Fifty-two (52) African countries were represented in the batch of 10,135, with Nigeria contributing 57% of applications. Western Africa 67.5% Northern Africa 1.0% Nigeria % Ghana % Cote d'ivoire % Benin % Senegal % Togo % Gambia % Niger % Burkina Faso % Liberia % Mali % Sierra Leone % Guinea % Mauritania % Cape Verde % Central Africa 4.9% Cameroon % Congo, DR % Gabon % Chad % Congo % Sao Tome & Principe % Central African Rep % Equatorial Guinea % Angola % Southern Africa 5.5% South Africa % Botswana % Lesotho % Namibia % Swaziland % Egypt % Algeria % Morocco % Tunisia % South Sudan % Sudan % Libya % Eastern Africa 21.1% Kenya % Uganda % Tanzania, U.R % Rwanda % Zimbabwe % Zambia % Malawi % Ethiopia % Burundi % Mozambique % Mauritius % Somalia % Djibouti % Madagascar % Comoros 8 0.1% Eritrea % Click to view 3-year trend *Africa regional grouping based on United Nations Statistic Division geoscheme system Distribution of applications by stage Idea (Concept) 29% Testing (Research & Development) 20% Infancy (Market Entry) Growth 33% 18% Majority of the applications received (62%) were businesses between the idea and infancy stages. 27

28 Distribution of applications by sector MANUFACTURING FASHION ICT EDUCATION AND TRAINING COMMERCIAL/RETAIL MEDIA AND ENTERTAINMENT HEALTHCARE PROFESSIONAL SERVICES ENERGY/POWER GENERATION AGRICULTURE 29% CONSTRUCTION TOURISM/HOSPITALITY WASTE MANAGEMENT FMCG CONSULTING 9% 9% 9% 7% 6% 5% 4% 4% 4% 3% 3% 3% 4% 2% About one-third of applications evaluated were from the Agriculture sector; other sectors with significant representation are Manufacturing (9%), ICT (9%), Fashion (9%) and Education/Training (7%), which hold potential to improve the unemployment situation in Africa. Gender distribution of all 10,135 applications by African region A total of 3,311 applications from the batch of 10,135 were from female entrepreneurs, representing 33% of all. Namibia (57%), Lesotho (53%) and Niger (51%) were the only countries with a higher number of female applicants Western Africa Male Female Nigeria Ghana % 73% Northern Africa Male Female Egypt 26 6 Algeria 11 5 Cote d'ivoire Morocco 8 7 Benin Tunisia 10 5 Senega l % South Sudan 11 2 Togo Gambia % Sudan 9 2 Libya 1 1 Niger Burkina Faso 34 4 Liberia Mali % 77% 34% 66% Eastern Africa Male Female Kenya Uganda Sierra Leone 21 9 Tanzania, U.R Guinea 26 2 Rwanda Mauritania 8 2 Cape Verde 2 2 Central Africa Male Female Cameroon Congo, DR Gabon Chad 26 1 Congo 18 6 Sao Tome & Principe 8 2 Central African Rep. 5 1 Equatorial Guinea % 58% Southern Africa Male Female South Africa Botswana Lesotho Namibia Swaziland 21 6 Zimbabwe Zambia Malawi Ethiopia Burundi Mozambique Mauritius Somalia 18 1 Djibouti 12 3 Madagascar 7 5 Comoros 5 3 Eritrea 1 0 Click to view 3-year trend Angola 1 1 Male Female 28

29 Ranking distribution of all 10,135 applications by African region 3% 2% 14% 14% 1% 2% 26% 41% Overall, Eastern Africa region had the greatest proportion of high-ranking applications (26%) compared to total entries received per region 11% 0% 19% 29% 38% 2% 12% 23% 29% 3% Southern Africa had the least proportion (14%), other regions' proportions ranged from 16-25% 34% 11% 17% 34% 2% 12% 34% 23% 23% 39% Northern Africa VH H HM LM2 LM1 L VL Egypt South Sudan Tunisia Algeria Sudan Morocco Libya Western Africa VH H HM LM2 LM1 L VL Nigeria Ghana Cote d'ivoire Benin Senegal Togo Gambia Niger Liberia Burkina Faso Sierra Leone Mali Guinea Mauritania Cape Verde Central Africa VH H HM LM2 LM1 L VL Cameroon Congo, DR Gabon Chad Congo Sao Tome & Principe Central African Rep Equatorial Guinea Angola Eastern Africa VH H HM LM2 LM1 L VL Kenya Uganda Tanzania, U.R Rwanda Zimbabwe Zambia Malawi Ethiopia Burundi Mozambique Mauritius Djibouti Somalia Madagascar Comoros Eritrea Southern Africa VH H HM LM2 LM1 L VL South Africa Botswana Lesotho Namibia Swaziland VERY HIGH >=90 HIGH HIGH MEDIUM LOW MEDIUM BAND 2 LOW MEDIUM BAND 1 LOW VERY LOW <=20 29

30 Gender distribution by rank of all 10,135 applications Across 5 of the 7 ranking scales, the proportion of female to male applicants was approximately 1: (34%) 914 (32%) 662 (34%) 2520 (66%) 1948 (68%) 345 (30%) 0 (0%) 1 (100%) 142 (70%) 62 (30%) 1316 (66%) 809 (70%) 88 (72%) 33 (28%) VERY HIGH HIGH HIGH MEDIUM LOW MEDIUM BAND 2 LOW MEDIUM BAND 1 LOW VERY LOW Male Female 30

31 THREE-YEAR TREND Compared to entries reviewed in the previous years, there is marginal increase in the number of countries and in female participation, and minimal shift in sectoral distribution Country representation: Gender representation: Eritrea Djibouti 2015 Cape Verde Sao Tome & Principe Seychelles 1,479 3,724 Comoros 28% 72% Only in 2016 Only in 2017 All years Mauritius 2016 Sector distribution Agriculture 25.1% 28.8% % 6 2 Aviation 0.0% 0.1% % 6 3 Commercial/Retail 9.3% 7.2% 6 5.9% 6 4 Construction 3.2% 2.6% 6 2.9% 5 5 Consulting 0.0% 2.0% 5 2.1% 5 6 Education and Training 11.7% 7.3% 6 7.2% 6 7 Energy/Power Generation 2.2% 2.8% 5 3.7% 5 8 Fashion 5.7% 8.6% 5 8.4% 6 9 Financial Services 2.0% 1.0% 6 1.7% 5 10 FMCG 1.3% 2.7% 5 2.6% 6 11 Haulage/Logistics 0.0% 0.7% 5 0.7% ; 12 Healthcare 3.7% 3.8% 5 4.3% 5 13 ICT 9.1% 8.5% 6 8.3% 6 14 Manufacturing 5.9% 7.8% 5 8.8% 5 15 Media and Entertainment 4.2% 5.1% 5 4.6% 6 16 Oil & Gas 0.0% 0.7% 5 0.7% ; 17 Professional Services 0.0% 3.5% 5 3.7% 5 18 Telecommunication 0.0% 0.5% 5 0.5% ; 19 Tourism/Hospitality 2.1% 2.4% 5 2.7% 5 20 Transportation 1.7% 1.7% ; 1.2% 6 21 Waste Management 1.2% 2.4% 5 2.7% 5 2,785 5,899 32% 68% ,311 6,824 33% 67% 31

32 Distribution trend for top 20 countries: Actual number of submitted applications across the top 20 countries significantly increased (by over 100%) from last year, except for Nigeria and nine other countries Nigeria Kenya Uganda Ghana Tanzania, U.R. Cameroon South Africa Rwanda Botswana Cote D'ivoire Zimbabwe Zambia Benin Congo, D.R. Malawi Ethiopia Senegal Burundi Togo Lesotho ,786 3 Click to access the full table of data <100% increase from >100% increase from <100% decrease from >100% decrease from 2016 Top 20 New entrants 32

33 Introduction 2017 Application Drive Review Evaluation Approach/Methodology Outcome of Evaluation Batch of 10,135 Top 1,000: Statistical Review Three-year Trend Analysis 33

34 THE ROAD TO 1,000 93,246 Total registrations recorded globally on the programme platform 37,935 Number of completed applications screened further by the Tony Elumelu Foundation Team 10,135 Applications that scaled through after 1st screening by TEF Team. These were further evaluated by Accenture Development Partners (ADP) 1,580 Applications scoring >=72% rating in first stage evaluation by ADP 958 Applications ranked medium & above (scoring >=61%) in 2nd stage evaluation by ADP (44 countries represented) Others selected on discretionary basis (42) Top scoring applications from 8 countries that are not represented among the final 958 Countries under-represented in the batch of 958 Applications scoring 60% from countries not in Top 10 list Selected 1,000 34

35 REGIONAL, GENDER & SECTOR ANALYSIS OF THE SELECTED 1,000 Distribution of final 1,000 applications by African region Fifty-two (52) African countries are represented in the top 1,000 applications, with Nigeria contributing 51%. The highest regional representations in the top 1,000 are from the Western (62%) and Eastern (26%) African regions. 624 Western Africa 62.4% Nigeria % Ghana % Cote D'ivoire % Benin % Togo % Niger 6 0.6% Sierra Leone 6 0.6% Senegal 5 0.5% Burkina Faso 3 0.3% Cape Verde 3 0.3% Gambia 2 0.2% Mauritania 2 0.2% Mali 2 0.2% Guinea 2 0.2% Liberia 2 0.2% Central Africa 6.6% Cameroon % Congo, D.R % Gabon 9 0.9% Chad 6 0.6% Congo 4 0.4% Sao Tome And Principe 2 0.2% Angola 2 0.2% Central African Republic2 0.2% Equatorial Guinea 2 0.2% Northern Africa 1.6% Algeria 3 0.3% Egypt 3 0.3% South Sudan 2 0.2% Sudan 2 0.2% Tunisia 2 0.2% Libya 2 0.2% Morocco 2 0.2% Eastern Africa 25.8% Uganda % Kenya % Tanzania, U.R % Rwanda % Zambia % Zimbabwe % Ethiopia % Malawi 6 0.6% Djibouti 3 0.3% Madagascar 2 0.2% Comoros 2 0.2% Mozambique 2 0.2% Burundi 2 0.2% Mauritius 2 0.2% Somalia 2 0.2% Eritrea 1 0.1% Southern Africa 3.6% South Africa % Botswana 5 0.5% Lesotho 3 0.3% Namibia 3 0.3% Swaziland 2 0.2% *Africa regional grouping based on United Nations Statistic Division geoscheme system 35

36 Gender distribution of top 1,000 applications by African region Thirty-two percent (32%) of the top 1,000 applications were sent in by female applicants. Three countries have 100% female representation in the top 1,000: Algeria, Comoros, and Madagascar. While Cape Verde has more female representatives than male. 50% 50% Western Africa M F Nigeria Ghana 18 6 Cote D'Ivoire 17 6 Benin 14 6 Togo 13 2 Sierra Leone 5 1 Niger 3 3 Senegal 2 3 Burkina Faso 3 0 Mali 2 0 Liberia 2 0 Mauritania 2 0 Cape Verde 1 2 Gambia 2 0 Guinea 2 0 Central Africa M F Cameroon 16 5 Congo, DR 14 4 Gabon 7 2 Chad 6 0 Congo 4 0 Equatorial Guinea 1 1 Sao Tome & Principe 1 1 Angola 1 1 Central African Rep % 31% 21% 79% 67% 33% 36% 64% Southern Africa M F South Africa 15 8 Botswana 5 0 Lesotho 1 2 Namibia 2 1 Swaziland 1 1 Northern Africa M F Egypt 2 1 South Sudan 2 0 Algeria 0 3 Sudan 1 1 Tunisia 1 1 Libya 1 1 Morocco 1 1 Eastern Africa M F Uganda Kenya Tanzania, UR Rwanda Zambia 19 2 Zimbabwe 10 7 Ethiopia 9 1 Malawi 6 0 Djibouti 3 0 Burundi 2 0 Mozambique 1 1 Madagascar 0 2 Comoros 0 2 Eritrea 1 0 Mauritius 1 1 Somalia 2 0 *Africa regional grouping based on United Nations Statistic Division geoscheme system 36

37 Distribution of applications by sector About one-third (29%) of applications in the top 1,000 are from the Agriculture sector; other sectors with significant representation are ICT (11%), Manufacturing (9%) and Education/Training (9%). 11% ICT 29% Agriculture 9% Manufacturing 9% Education and Training 7% Fashion 6% Commercial / Retail 2% Consulting 2% Tourism/Hospitality 3% Media/Entertainment 5% Energy/Power Generation 5% Healthcare 3% Professional Services 3% Construction 3% FMCG 3% Waste Management Distribution of applications by stage Idea (Concept) Testing (Research & Development) Infancy (Market Entry) Growth 18% 23% 19% 40% 37

38 Sector distribution by region in the final 1,000 applications Western Africa has an average proportion of 61% across all twenty sectors represented in the top 1,000. Sectors with the lowest proportions of Western African applications to total are Energy/Power Generation (45%), Media & Entertainment (44%), Financial Services (44%) and Transportation (40%) Agriculture ICT Manufacturing Education & Training Fashion Commercial/Retail Healthcare Energy/Power Media & Entertainment FMCG Waste Management Construction Professional Services Tourism/Hospitality Consulting Financial Services Haulage/ Logistics Transportation Oil & Gas Aviation Central Africa Eastern Africa Northern Africa Southern Africa Western Africa Sector distribution by gender in the final 1,000 applications The proportion of female to male applications is higher than the average of 32% in nine of the twenty sectors represented in the top 1, Sectors with significant proportion of female applicants are Fashion (59%), FMCG (44%), Healthcare (41%) and Professional Services (41%) Male Agriculture Female ICT Manufacturing Education & Training Fashion Commercial/Retail Healthcare Energy/Power Media & Entertainment FMCG Waste Management Construction Professional Services Tourism/Hospitality Consulting Financial Services Haulage/ Logistics Transportation Oil & Gas Aviation 38

39 Sector distribution by rank in the final 1,000 applications Applications in the "Medium" rank constitutes more than 60% of total applications across all sectors. Sectors with the highest overall proportions of "High" ranking applications are Oil & Gas (33%), Energy & Power Generation (30%) and Waste Management (20%) High Medium Low Agriculture ICT Manufacturing Education & Training Fashion Commercial/Retail Healthcare Energy/Power Media & Entertainment FMCG Waste Management Construction Professional Services Tourism/Hospitality Consulting Financial Services Haulage/ Logistics Transportation Oil & Gas Aviation Scoring across the 5 criteria for HIGH rank applications < Feasibility Market Opportunity 16 Financial Understanding 41 Leadership & Entrepreneurship Skills 11 Scalability These applications scored highly on Feasibility, Market Opportunity, Scalability & Leadership Applications falling in this bracket include ideas that are proven and have potential to be scaled up to deliver greater impact. 39

40 Scoring across the 5 criteria for MEDIUM rank applications Compared to the "High" category, only a minimal proportion of applications in the "Medium" category scored 5 across all criteria. On average, 45% of the 829 applicants in the "MEDIUM" category scored 4 and above across all 5 criteria Feasibility Market Opportunity Financial Leadership Scalability < Scoring across the 5 criteria for LOW rank applications Over seventy percent (70%) of the 42 applications in the "Low" rank had medium to low scores in Financial Understanding Feasibility Market Opportunity Financial Leadership Scalability < On average, over 93% of applications in the "LOW" category scored 3 and below across all 5 criteria Based on an analysis of the 42 applications ranked as "LOW", the factors most responsible for placement in the Low bracket were Financial Understanding & Scalability. 40

41 Introduction 2017 Application Drive Review Evaluation Approach/Methodology Outcome of Evaluation Batch of 10,135 Top 1,000: Statistical Review Three-year Trend Analysis 41

42 YEARLY APPLICATION PROGRESSION 7,817 Submissions 20,228 Registrations 18,320 Submissions 45,658 Registrations 37,935 Submissions 93,246 Registrations 72,000? Submissions 180,000? Registrations PROJECTION Chart Showing 2015, 2016 and 2017 Applicant Registrations Week Chart Showing 2015, 2016 and 2017 Application Submissions Week % increase in application registrations and 134% increase in application submissions in 2017 compared to

43 APPLICATION DISTRIBUTION Three-year distribution trend for all 54 participating countries (Stage 2 evaluation) Country Country Nigeria 2,756 6, , Guinea Kenya Mali Uganda Sierra Leone Ghana Egypt Cameroon Congo South Africa Morocco Tanzania Swaziland Cote D'ivoire Chad Rwanda Mauritius Zambia Somalia Zimbabwe Djibouti Botswana Madagascar 8 8 ; Congo (DRC) Tunisia Benin Algeria Ethiopia South Sudan 4 4 ; Senegal Sao Tome & Principe Malawi Sudan Burundi Central African Rep ; 19 Gabon Angola Burkina Faso Mauritania Togo Equatorial Guinea Mozambique Comoros 1 1 ; Gambia Guinea-Bissau Namibia Cape Verde Liberia Libya Niger Seychelles Lesotho Eritrea - - ; 1 5 Go Back 43

44 FEMALE PARTICIPATION Three-year female participation trend for all 54 participating countries County Country Nigeria 34% 33% 6 33% 5 28 Guinea 8% 13% 5 7% 6 2 Kenya 21% 40% 5 39% 6 29 Mali 0% 36% 5 30% 6 3 Uganda 19% 31% 5 36% 5 30 Sierra Leone 45% 30% 6 20% 6 4 Ghana 20% 24% 5 29% 5 31 Egypt 40% 0% 6 19% 5 5 Cameroon 19% 24% 5 24% 5 32 Congo 0% 17% 5 25% 5 6 South Africa 41% 58% 5 43% 6 33 Morocco 27% 18% 6 33% 5 7 Tanzania, U.R. 24% 24% 5 34% 5 34 Swaziland 0% 9% 5 22% 5 8 Cote D'ivoire 12% 25% 5 20% 6 35 Chad 0% 13% 5 4% 6 9 Rwanda 27% 36% 5 35% 6 36 Mauritius 100% 17% 6 37% 5 10 Zambia 26% 24% 6 27% 5 37 Somalia 71% 20% 6 5% 6 11 Zimbabwe 22% 34% 5 36% 5 38 Djibouti 17% 0% 6 20% 5 12 Botswana 38% 47% 5 34% 6 39 Madagascar 0% 63% 5 42% 6 13 Congo (DRC) 26% 14% 6 19% 5 40 Tunisia 0% 13% 5 47% 5 14 Benin 11% 27% 5 22% 6 41 Algeria 67% 43% 6 31% 6 15 Ethiopia 10% 12% 5 26% 5 42 South Sudan 25% 25% ; 15% 6 16 Senegal 23% 41% 5 35% 6 43 Sao Tome & Principe 0% 29% 5 20% 6 17 Malawi 11% 26% 5 27% 5 44 Sudan 0% 0% ; 18% 5 18 Burundi 30% 33% 5 19% 6 45 Central African Rep. 0% 0% ; 17% 5 19 Gabon 19% 40% 5 32% 6 46 Mauritania 0% 0% ; 20% 5 20 Burkina Faso 5% 0% 6 11% 5 47 Angola 20% 50% 5 50% ; 21 Togo 5% 7% 5 18% 5 48 Equatorial Guinea 100% 57% 6 50% 6 22 Mozambique 13% 31% 5 22% 6 49 Comoros 0% 100% 5 38% 6 23 Gambia 10% 36% 5 39% 5 50 Cape Verde 0% 50% 5 50% ; 24 Namibia 60% 36% 6 57% 5 51 Guinea-bissau 100% 14% 6 n/a 25 Liberia 27% 20% 6 28% 5 52 Libya n/a 0% 50% 5 26 Niger 27% 21% 6 51% 5 53 Seychelles n/a 0% n/a 27 Lesotho 50% 55% 5 53% 6 54 Eritrea n/a n/a 0% Go Back 44

45 FINAL SELECTION DISTRIBUTION Three-year final selection distribution trend for all 54 participating countries Country Country Nigeria Guinea Kenya Mali Uganda Sierra Leone Ghana Egypt Cameroon Congo South Africa Morocco Tanzania Swaziland 1 1 ; Cote D'ivoire Chad 1 1 ; Rwanda Mauritius Zambia Somalia 2 2 ; 2 ; 11 Zimbabwe Djibouti Botswana Madagascar 3 3 ; Congo (DRC) Tunisia Benin Algeria Ethiopia South Sudan 1 1 ; Senegal Sao Tome And Principe Malawi Sudan 1 1 ; Burundi Central African Republic 1 1 ; Gabon Angola Burkina Faso 3 3 ; 3 ; 47 Mauritania 1 1 ; Togo Equatorial Guinea 1 1 ; Mozambique Comoros 1 1 ; Gambia Guinea-Bissau 1 1 ; Namibia Cape Verde Liberia ; 52 Libya Niger Seychelles Lesotho Eritrea - - ;

46 FEMALE FINALIST DISTRIBUTION Three-year female winner distribution trend for all 54 participating countries Country Country Nigeria 35% 33% 6 33% 6 28 Guinea 20% 0% 6 0% ; 2 Kenya 19% 33% 5 38% 5 29 Mali 0% 0% ; 0% ; 3 Uganda 20% 28% 5 47% 5 30 Sierra Leone 67% 100% 5 17% 6 4 Ghana 19% 33% 5 25% 6 31 Egypt 33% 0% 6 33% 5 5 Cameroon 21% 16% 6 24% 5 32 Congo 0% 100% 5 0% 6 6 South Africa 29% 56% 5 35% 6 33 Morocco 20% 100% 5 50% 6 7 Tanzania 24% 31% 5 31% 6 34 Swaziland 0% 0% ; 50% 5 8 Cote D'ivoire 6% 33% 5 26% 6 35 Chad 0% 100% 5 0% 6 9 Rwanda 27% 35% 5 48% 5 36 Mauritius 100% 0% 6 50% 5 10 Zambia 29% 25% 6 10% 6 37 Somalia 0% 0% ; 0% ; 11 Zimbabwe 17% 50% 5 41% 6 38 Djibouti 0% 0% ; 0% ; 12 Botswana 67% 75% 5 0% 6 39 Madagascar 0% 67% 5 100% 5 13 Congo (DRC) 43% 0% 6 22% 5 40 Tunisia 0% 0% ; 50% 5 14 Benin 20% 0% 6 30% 5 41 Algeria 60% 100% 5 100% ; 15 Ethiopia 22% 14% 6 10% 6 42 South Sudan 100% 100% ; 0% 6 16 Senegal 0% 83% 5 60% 6 43 Sao Tome & Principe 0% 0% ; 50% 5 17 Malawi 0% 22% 5 0% 6 44 Sudan 0% 0% ; 50% 5 18 Burundi 29% 25% 6 0% 6 45 Central African Rep. 0% 0% ; 0% ; 19 Gabon 50% 60% 5 22% 6 46 Angola 25% 100% 5 50% 6 20 Burkina Faso 0% 0% ; 0% ; 47 Mauritania 0% 0% ; 0% ; 21 Togo 50% 0% 6 13% 5 48 Equatorial Guinea 100% 0% 6 50% 5 22 Mozambique 50% 0% 6 50% 5 49 Comoros 0% 100% 5 100% ; 23 Gambia 0% 100% 5 0% 6 50 Guinea-Bissau 100% 0% 6 0% ; 24 Namibia 67% 50% 6 33% 6 51 Cape Verde 0% 100% 5 67% 6 25 Liberia 0% 0% ; 0% ; 52 Libya 0% 0% ; 50% 5 26 Niger 100% 0% 6 50% 5 53 Seychelles 0% 0% ; 0% ; 27 Lesotho 33% 0% 6 67% 5 54 Eritrea 0% 0% ; 0% ; 46

47 TOP 20 COUNTRIES Three-year distribution trend for top 20 countries Country Nigeria Kenya Uganda Ghana Tanzania, United Republic Of Cameroon South Africa Rwanda Botswana Zimbabwe Cote D'ivoire Congo, Democratic Republic Of The Zambia Benin Malawi Ethiopia Senegal Burundi Togo Go Back 20 Lesotho Total applications for each year: 5,204 8,688 10,135 47

48 APPENDIX I 2015 RESULTS 48

49 THE SELECTED 1,000 (2015) DISTRIBUTION OF SELECTED 1,000 APPLICANTS BY COUNTRIES OF RESIDENCE GENDER DISTRIBUTION Benin 1% Zimbabwe 1.2% Rwanda 1.5% Zambia 1.7% Côte d Ivoire 1.7% Tanzania 1.7% Cameroon 1.9% Ethiopia 0.9% South Africa 3.1% Ghana 3.6% Uganda 4.5% DR Congo 0.7% Burundi 0.7% Others 9.4% Kenya 16.7% Nigeria 49.7% Country Selected % Nigeria % Kenya % Uganda % Ghana % South Africa % Cameroon % Tanzania % Côte d Ivoire % Zambia % Rwanda % Zimbabwe % Benin 10 1% Ethiopia 9 0.9% Burundi 7 0.7% DR Congo 7 0.7% Others % Female Male Nigeria Kenya Uganda Ghana South Africa Cameroon Tanzania Côte d Ivoire 1 Zambia Rwanda Gender distribution across the Top 10 TEEP 1,000 countries Female 29% 71% Male SECTOR DISTRIBUTION AMONG THE FINAL 1,000 SELECTED APPLICANTS SELECTED 1000 AGE OF APPLICANTS 9% Education and Training 30% Agriculture 9% Commercial / Retail 8% ICT 8% Manufacturing 10% Others 1% Tourism & Hospitality 2% FMCG 2% Financial Services 4% Energy & Power 5% Healthcare 4% Fashion 0% 23% 54% 18% 4% 1% < >57 STAGE OF BUSINESS AMONG SELECTED 1000 ENTREPRENEURS Idea 24% Early development/ Market Testing 30% 2% Transportation 2% Waste Management 3% Construction 2% Media and Entertainment Market Entry Growth 24% 21% 49

50 APPENDIX II 2016 RESULTS 50

51 THE SELECTED 1,000 (2016) DISTRIBUTION OF SELECTED 1,000 APPLICANTS BY REGION 0.7% 68.3% 3.9% 2.6% 24.5% Western Africa 68.3% Nigeria % Ghana % Cote D'Ivoire % Senegal 6 0.6% Niger 4 0.4% Benin 4 0.4% Gambia 3 0.3% Burkina Faso 3 0.3% Liberia 2 0.2% Cape Verde 1 0.1% Togo 1 0.1% Guinea 1 0.1% Sierra Leone 1 0.1% Mali 1 0.1% Mauritania 1 0.1% Guinea-Bissau 1 0.1% Fifty-three (53) African countries are represented in the final 1,000 applications, with Nigeria contributing 59%. The regions with the highest representation are West (68%) and East (25%) Africa. Eastern Africa 24.5% Kenya % Uganda % Ethiopia % Rwanda % Zimbabwe % Tanzania, U.R % Malawi 9 0.9% Burundi 8 0.8% Zambia 8 0.8% Madagascar 3 0.3% Mauritius 3 0.3% Djibouti 2 0.2% Somalia 2 0.2% Seychelles 1 0.1% Comoros 1 0.1% Mozambique 1 0.1% Central Africa 3.9% Cameroon % Gabon 5 0.5% Congo, DR 3 0.3% Angola 1 0.1% Equatorial Guinea 1 0.1% Central African Rep % Sao Tome & Principe 1 0.1% Chad 1 0.1% Congo 1 0.1% Southern Africa 2.6% South Africa % Botswana 4 0.4% Namibia 2 0.2% Swaziland 1 0.1% Lesotho 1 0.1% Northern Africa 0.7% Algeria 1 0.1% Sudan 1 0.1% South Sudan 1 0.1% Egypt 1 0.1% Tunisia 1 0.1% Libyan Arab J % Morocco 1 0.1% GENDER DISTRIBUTION 68% 43% 57% Thirty-two percent (32%) of the final 1,000 selected applicants are female. Fifteen (15) countries had a higher female-to-male ratio in the final 1,000 entries: Algeria, Angola, Burkina Faso, Botswana, Cape Verde, Chad, Comoros, Congo, Gabon, Gambia, Madagascar, Morocco, Senegal, Sierra Leone and South Sudan. 32% Female Male 33% 67% 26% 76% 29% 71% 46% 54% SECTOR DISTRIBUTION AMONG THE FINAL 1,000 SELECTED APPLICANTS Agriculture 288 Healthcare 44 Transportation 20 Manufacturing Education and Training 93 Media and 41 Consulting 17 Entertainment 79 Waste Management Financial 40 8 Services ICT 77 Construction Haulage 27 7 /Logistics Commercial /Retail 76 Professional Services 26 Oil & Gas 5 Fashion 59 FMCG 23 Telecom 4 Energy/ Power Generation 44 Tourism/ Hospitality 20 Aviation 2 51

52 ACKNOWLEDGMENTS 1. TEF TRUSTEES Tony O. Elumelu, CON Dr. Awele V. Elumelu Alexander Trotter Michael Porter, Founding Patron 2. TEF ADVISORY BOARD Lionel Zinsou Lady Lynn De Rothschild Jamie Cooper-Hohn 3. OUR STAFF Parminder Vir, Chief Executive Officer Owen Omogiafo, Chief Operating Officer Bolanle Omisore, Head, Marketing & Corporate Communications Mazzi Odu, Head, Foundation Projects Funmi Obileye, Partnerships Manager Onajite Ogwo, Entrepreneurship Programme Manager Tope Adubi, Digital Marketing Manager Folarin Aiyegbusi, IDEMS Specialist Kemi Michael Jabagun, Alumni Manager Ebube Okechukwu, Digital Media Executive Nwamaka Ogbonna, Research Analyst 4. OUR SUPPORT STAFF Oyindamola Oyeduntan Austine Abolusoro Uwem Uwemakpan Christiana Mobolaji John Okonkwo Gloria Agugua 5. TEF ENTREPRENEURSHIP PROGRAMME SELECTION COMMITTEE Angelle Kwemo Nimi Akinkugbe Amadou Hott Martin Eigbike Prof Ndubuisi Ekekwe Marieme Jamme Monica Musonda Vera Songwe Ory Okolloh Ayodeji Adewunmi 6. ACCENTURE DEVELOPMENT PARTNERS Osato Noah Omowunmi Adenuga-Taiwo 7. OTHER Roundstone Consulting Crenet 52

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