The year 2012 may be a bumper year for charitable foundations in Africa.
Nigerian banking magnate Tony Elumelu set one up in 2010. So did Mike Adenuga, Nigeria’s telecoms impresario, in 2009.
But what will they do?
Mo Ibrahim has a foundation with clear goals, a leadership prize and focus on governance. Elumelu says he will focus on business leadership.
The Nigerian businessman is linking up with Tony Blair’s Africa Governance Initiative, which has raised eyebrows by bidding for UK government contracts for the Department for International Development.
Mike Adenuga’s foundation also has mentoring young business people as its focus, with future plans to set up an entrepreneurship centre in a Nigerian university.
Perhaps the model is the US, where robber barons Carnegie, Mellon and Rockefeller transformed their monopoly money into foundations that ultimately bore progressive fruit.
Understand Africa's tomorrow... today
We believe that Africa is poorly represented, and badly under-estimated. Beyond the vast opportunity manifest in African markets, we highlight people who make a difference; leaders turning the tide, youth driving change, and an indefatigable business community. That is what we believe will change the continent, and that is what we report on. With hard-hitting investigations, innovative analysis and deep dives into countries and sectors, The Africa Report delivers the insight you need.
View subscription options
