The Tony Elumelu Foundation (TEF), an African philanthropic organisation, will announce 1,200 entrepreneurs from 54 African countries as recipients of its flagship entrepreneurship programme on Friday.
According to a statement, the announcement is scheduled for March 22, 2024, marking the 10th cohort in the program’s decade-long journey.
“The Tony Elumelu Foundation (TEF), the leading philanthropy empowering African entrepreneurs, will announce 1,200 African entrepreneurs across 54 African countries as beneficiaries of its flagship entrepreneurship programme. The announcement will be made on March 22, 2024,” the statement read.
The TEF Entrepreneurship programme allows African entrepreneurs to transform their business dreams into reality by providing a non-repayable seed capital of $5,000, world-class business training for 12 weeks; access to TEF Alumni network with over 15,000 entrepreneurs across Africa; mentoring and networking opportunities via Africa’s largest digital platform for entrepreneurs.
Applicants must be 18 years of age and above, with scalable business ideas or a business that has been operational for at most 5 years.
With over $100 million directly distributed to young African entrepreneurs to date, the foundation has facilitated the creation of over 400,000 direct and indirect jobs, contributing to Africa’s economic advancement.
Additionally, the foundation has offered capacity building, advisory services, and market connections to over 1.5 million Africans.
Beneficiaries have gained access to top-tier business training, mentorship, coaching, funding, and lifelong membership in the esteemed TEF Alumni Network.
The Foundation’s mission is rooted in Africapitalism, which positions the private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the African continent.
