The Tony Elumelu Foundation (TEF) has opened its application portal (www.tefconnect.com) for applications from African entrepreneurs across all African countries, for the 2020 cohort of the Tony Elumelu Entrepreneurship Programme.
Last year, 3,050 African entrepreneurs benefited from the programme, a number which will meaningfully increase in 2020.
The TEF Entrepreneurship Programme is open to start-up entrepreneurs, with innovative business ideas or businesses that have been in existence for less than three years, in any sector, from across Africa. The scheme is the $100m commitment by African investor and philanthropist, Tony O. Elumelu to empower 10,000 entrepreneurs in 10 years, with the goal of creating millions of jobs and new revenue on the continent.
The initiative implements Elumelu’s Africapitalism philosophy, which positions the private sector as the catalyst for African economic transformation, and an investment approach that values the creation of both social and economic wealth.
Ifeyinwa Ugochukwu, CEO, Tony Elumelu Foundation, said: “The transformation of Africa begins with empowering our young African entrepreneurs. With the recent enhancements made to our programme and our growing list of partners, the Tony Elumelu Foundation is significantly increasing its impact across the continent.
Ugochukwu said the TEF encourages all start-up African entrepreneurs across the 54 African countries to apply for the scheme, as we continue to empower the very best ideas that will create the much needed employment and revenue on the continent.
In commemoration of its 10th year anniversary, the TEF will announce further enhancements to the programme, providing additional benefits to Africa’s rapidly growing youth demographic. The changes in the 2020 TEF Entrepreneurship Programme emphasise a personalised entrepreneurship journey for every applicant and opening the platform to ensure a higher number of people trained, amplifying the programme’s impact and reach. In just five years, the programme has empowered over 9,000 beneficiaries from all 54 African countries, with training, mentorship and seed funding.
