Vice President Yemi Osinbajo says exemplary character plays a major role in entrepreneurship, which has been identified as a platform for the growth of business and development of a nation’s economy.
He said this at the Tony Elumelu Entrepreneurship Programme (TEEP) Boot Camp 2015, held at the Covenant University, Ota, Ogun State.
“Enterprises and societies thrive, on the the values of moral integrity, self discipline, hard work and innovation, respect for rule of law, and the prompt payment of taxes. These are the critical components for successful economies and countries anywhere,” said Osinbajo, who represented President Muhammadu Buhari at the event.
“Self-discipline, the ability to serve and to invest as well as bearing losses are critical,” noting that discipline alone is not sufficient.
The Vice President asserted that “the core of success in business is integrity, honesty and trust in the conduct of business,” adding that “credit worthiness is important in business, because when trust fails every other thing fails”.
“The payment of taxes and other obligations, be it moral or civic, for the purpose of development of the economy, for building infrastructure and other services are all important in business,” he stated.
TEEP is an entrepreneurial initiative run by the Tony Elumelu Foundation for entrepreneurs in Africa. The programme gives training, mentorship and seed capital to entrepreneurs with start-up business ideas they want to execute in Africa. By doing so, TEEP embodies Africapitalism, the economic philosophy that Elumelu coined.