The Tony Elumelu Foundation (TEF) has opened applications for the 2022 TEF entrepreneurship programme. African entrepreneurs with business ideas or existing businesses under 5 years are encouraged to apply on the TEF connect website.
Since 2015, the TEF entrepreneurship programme has empowered 15,847 African entrepreneurs with valuable incentives. This includes a non-returnable seed capital of Ksh. 565,000 (USD 5,000) each, 12 weeks of business management training, access to experienced mentors and membership to Africa’s largest entrepreneurial ecosystem.
In 2021, the TEF disbursed Ksh. 2.8 billion (USD 24.75 million) to 5,000 African entrepreneurs across Africa for its 2021 entrepreneurship programme. The Foundation’s entrepreneurship programme remains one of the largest private sector responses to driving the economic recovery of African youth, women and SMEs given the effects of the covid19 pandemic across Africa. Across Africa, the programme beneficiaries are starting and growing trailblazing businesses that have collectively created over 400,000 direct and indirect jobs.
Commenting on the launch of the 2022 Tony Elumelu Foundation entrepreneurship programme, CEO of the Tony Elumelu Foundation, Ifeyinwa Ugochukwu shared, “We are constantly blown away by the quality of businesses that come from Africa every year. This motivates us to scale our efforts to empower even more entrepreneurs on continent. The innovation, knowledge and resilience of African entrepreneurs is central to charting Africa’s socio-economic transformation and meet the continent’s development objectives.”
The Tony Elumelu Foundation Entrepreneurship programme is open to entrepreneurs across Africa, new start-ups and existing young businesses, operating in any sector. Prospective applicants should apply now on the digital networking hub for African entrepreneurs on the TEF website.