African non-profit organization, The Tony Elumelu Foundation has offered a $150,000 grant to support the African Union Foundation, an institution established to accelerate social and economic changes in Africa.

The grant is the first offered to the foundation and was made by Tony Elumelu, head of the Elumelu Foundation and Chairman of proprietary investment firm, Heirs Holdings at  the foundation’s inaugural promoters’ meeting in Addis Ababa.

Elumelu, who was recently invited to join its council said: “I am honoured to be a part of the Chairperson’s vision for an emergent Africa developed by Africans, and look forward to participating in this effort to change the paradigm of African development.”

Established by the AU Assembly in May 2013, the African Union Foundation aims to finance African priorities through voluntary contributions, by deeply engaging Africa’s private sector, African individuals and communities, and leading African philanthropists to generate resources and provide valuable insight on ways in which their success can accelerate Africa’s development.