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Africa’s leading philanthropy empowering entrepreneurs, the Tony Elumelu Foundation (TEF), is set to announce the 11th cohort of the TEF Entrepreneurship Programme on Saturday, March 22, 2025.
This announcement comes at a crucial time when Africa’s entrepreneurship ecosystem faces funding constraints and economic challenges. TEF remains committed to equipping African entrepreneurs with the resources to transform their ideas into sustainable businesses that drive economic growth.
Each Tony Elumelu Entrepreneur will gain:
1. $5,000 non-refundable seed capital
2. World-class business training via TEFConnect
3. One-on-one mentorship
4′ Access to global networks & investment opportunities
The selection process is independently conducted by Ernst & Young, ensuring transparency and fairness.
Founder Tony O. Elumelu, also the Group Chairman of Heirs Holdings, believes that Africa’s transformation will be driven by entrepreneurship, not aid.
“Empowering African entrepreneurs with funding, training, and networks is key to creating jobs and driving economic growth. Over the past decade, TEF has nurtured entrepreneurs from inception to success, scaling our impact across all 54 African countries.”
Since its inception, TEF has:
1. Empowered over 18,000 entrepreneurs across Africa
2. Created 1.5 million jobs
3. Generated $4.2 billion in revenue
4. Lifted over 2 million Africans out of poverty
Some of the success stories from TEF includes;
1. Fatima Diallo (Senegal, Agritech) – Started with just an idea, now expanded to three countries and employs 25 people.
2. Mary Okeke (Nigeria, Fintech) – Overcame funding challenges as a woman in fintech; now attracting international investors.
3. Juma Nyerere (Tanzania, Renewable Energy) – Provides solar solutions to 50,000+ rural homes after TEF support.
With the upcoming announcement, the Tony Elumelu Foundation continues to transform lives, proving that entrepreneurship is the key to Africa’s prosperity. Stay tuned for the March 22, 2025 reveal!
