Business
Tony Elumelu’s Fund To Empower Emerging African Storytellers
Africa No Filter, a donor working to transform stereotypical narratives of Africa, has launched the Tony Elumelu $30,000 Storytellers Fund, aimed at empowering emerging African creative talents.
Named after African business leader and philanthropist, Tony O. Elumelu, the Fund will award grants to emerging artists and storytellers, whose work shines a light on entrepreneurs and entrepreneurship in Africa.
The $30,000 fund is sponsored by Heirs Insurance and Heirs Life Assurance, the insurance subsidiaries of the pan-African investment group, Heirs Holdings.
Tony Elumelu, chairman of Heirs Holdings and Founder of the Tony Elumelu Foundation, has led the championing of entrepreneurship in Africa and has empowered over 15,000 young African entrepreneurs across the continent through a $100 million commitment made by his Foundation.
The Tony Elumelu Storytellers Fund is a standalone initiative and an extension of his commitment to catalysing a redefined African success story, powered by Africa’s youth and their creative ideas.
The Fund calls on journalists, filmmakers, content producers, and visual and performing artists to submit multimedia creative ideas, that tell the stories of inspiring entrepreneurs and showcase the true and positive spirit of entrepreneurship in Africa.
Applicants must be aged between 18 and 35 years, living on the continent or in the Diaspora. They must have a platform or portfolio of work that shines the light on entrepreneurship in Africa.
Speaking on the Fund, Tony Elumelu said: “I have always believed in the potential of young African entrepreneurs to transform Africa. This initiative aligns with our belief and extends the work that we do at the Tony Elumelu Foundation. Empowering young creative entrepreneurs and the creative sector provides a channel for us to project Africa’s positives globally. We need their voices to tell our often less-told stories of triumph, resilience, hard work and innovation.”
Source; TheCultureNewspaper
Dangote Petroleum Refinery has set its initial public offering price at ₦525 per share, with the company seeking to raise about ₦2.15 trillion as it prepares to enter Nigeria’s public equities market.
The Securities and Exchange Commission has approved the offer for 4.1 billion ordinary shares at ₦525 each. If fully subscribed, the offer would generate approximately ₦2.15 trillion, equivalent to about $1.6 billion at current exchange rates.
The offering is expected to open on 14 September 2026, according to Aliko Dangote, the president of Dangote Industries. The planned sale is positioned to become one of the largest equity offerings in Africa.
The IPO marks a significant step in Dangote Group’s plans to broaden ownership of the refinery and raise additional capital for expansion.
The refinery currently has a stated processing capacity of 650,000 barrels of crude oil per day. Dangote has said the company plans to increase that capacity to 1.4 million barrels per day as part of its longer-term expansion strategy.
The planned share sale follows a $1 billion underwriting programme completed in August, providing additional financial backing ahead of the public offering.
The refinery, located in the Lekki area of Lagos State, is one of Africa’s largest industrial projects and has become an increasingly important player in Nigeria’s fuel supply market since beginning operations.
The public offering will give Nigerian investors an opportunity to acquire shares in the refinery directly, while providing Dangote Petroleum Refinery with fresh capital to support its next phase of growth.
The company has also indicated ambitions to expand beyond its current Nigerian operations, with Dangote recently announcing plans for another refinery project in Kenya.
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