Tunde Ekpekurede Foundation (TEF) is a non-profit organization that is committed to implementing economic empowerment programs for disadvantaged and unemployed persons. A key driver of many of the initiatives been pursued by the Foundation is the belief that overall economic prosperity of nations, organizations and individuals can only improve when more persons who are economically disadvantaged are empowered to be productive. The resulting increase in their purchasing power means that businesses can do better as more persons have the means to purchase their products and services.
TEF was established in 2010 in Warri, Delta State by Engr. & Dr (Mrs) Tunde Ekpekurede.
The Case that the foundation seeks to address hinges on the following economic thrust:
Nigeria has an abundance of human and natural resources which are underdeveloped.
Much of this undeveloped human resources do not contribute to economic activity. In a recent address at the Lagos Business School, Diamond Bank CEO, Uzoma Dozie advised session participants not to overstate the numerical strength of Nigeria’s population, but to rather look at the productivity of the numbers.
Although investments in CSR that help the people at the bottom of the pyramid to live more productively are seen as an outflow, a number of institutions and think tank still believe that there is a secondary benefit – when more persons become economically active, businesses – (big or small) do better as purchasing power increases and the environment becomes more stable and safe for investments.
TEF is developing nonprofit economic models that will leverage the collaboration of private, public, individual and institutional partners to help utilize these idle human assets to create economic opportunities for underprivileged Nigerians.
TEF is also seeking to contribute to a number of efforts that address economic depravity at early stage growth by nurturing young minds to economic power houses at formative years. The goal is achieved by running entrepreneurial classes for teens and youths. It is noteworthy that the EU is presently pursing a vision of early stage intervention that programs young minds with entrepreneurial idea recognition and exploitation with school pupils as young as six years of age.