TEF, AllWorld unveil Nigeria’s 50 most enterprising companies

All World Network, in partnership with the Tony Elumelu Foundation, has announced winners of the Nigeria Fast Growth 50 (Nigeria 50) as part of efforts at promoting entrepreneurial activities.
The Nigeria 50, the foundation said, was a ranking of 50 of the fastest-growing private (non-listed) companies in Nigeria, which broke All World records, with each company growing at an average 100 per cent a year on revenues of $9m.
In fulfilment of its mandate to promote entrepreneurship through Africa, the foundation hosted the world’s foremost expert on business strategy and Harvard Business School professor, Michael Porter, at a series of lectures and events intended to inspire business leaders in the country.
Speaking at its inaugural unveiling ceremony in Lagos on Thursday, the founder, Tony Elumelu Foundation, Mr. Tony Elumelu, stressed that the Nigeria50 offered a glimpse into the country’s vast potential for entrepreneurs and the impact entrepreneurs were having in addressing Nigeria’s problems from malnutrition to job creation and employee training.
Elumelu pointed out that the aim was to develop future leaders of industry in Africa and encourage Nigeria’s entrepreneurs to continue making sustainable investments in the local economy.
This, he further said, would form a new approach toward building entrepreneurial competitive industries in Africa as well as create over 10,000 jobs within a short period.
He said, “We are committed to developing the future leaders of industry in Africa. The Tony Elumelu Foundation has dedicated itself to the promotion of entrepreneurship and the creation of an enabling environment for business leaders to reach their maximum potential and transform their communities.
“Nigeria’s entrepreneurs should be firmly encouraged to continue making sustainable investments in the local economy. This is how economic prosperity for all will be achieved; this is what adds social value to the people of Africa.”
World renowned entrepreneurial expert, Prof. Michael Porter, said Nigerian entrepreneurs were doing very well despite the attendant infrastructural challenges in the country.
Porter spoke on competitive strategy and enlightened the entrepreneurs and business leaders on how best to sustain market advantage.
“There’s a lot of energy and entrepreneurial talents here, but the system has held down the potential of these talents. It is not just about the companies, but about changing how wealth is created, about development, about economic growth,” he said.

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