The Tony Elumelu Foundation, a philanthropic organization that supports young African entrepreneurs from all 54 African countries, has announced the appointment of Somachi Chris-Asoluka as its new Chief Executive Officer (CEO).
Somachi, who has been with the foundation since 2014, has previously held the roles of Head of Research, Head of Policy and External Relations, and Director of Partnerships and Communications.
Her appointment, which takes effect on March 1, 2023, will see her leveraging her expertise and experience to provide strategic leadership in expanding the foundation’s work in promoting entrepreneurship in Africa.
Tony Elumelu, the founder of the foundation, said: “This is an important time for the Foundation and Africa. Our work is ever more important, and our platform is demonstrating our ability to truly catalyse change.”
Elumelu also thanked the outgoing CEO, Ifeyinwa Ugochukwu, for her “considerable achievements, significant sacrifice and commitment to building and empowering the next generation of African business leaders.”
Ifeyinwa commented: “Over the last five years, the Tony Elumelu Foundation has significantly expanded its mission to empower African Entrepreneurs across all 54 African Countries. As CEO, it has been my profound joy to lead the dynamic team to empower the next generation of young people whose ideas are transforming Africa.”
Somachi, who holds a BSc in Economics from Saint Mary’s College of California and a Master’s Degree in International and Development Economics from Yale University, said: “I am honoured to be appointed to lead the Foundation, particularly at a time when we will be launching a new Coalition for African Entrepreneurship.”
She added that she looks forward to working with the foundation’s team, partners, and stakeholders to achieve the goal of a “strong, confident, self-reliant Africa.”
