The Tony Elumelu Foundation (TEF) is set to unveil the 11th cohort of its transformative Entrepreneurship Programme on Saturday, March 22, 2025. This year’s announcement comes at a critical time, as African entrepreneurs navigate financial constraints and global economic challenges.
Over the years, the TEF Entrepreneurship Programme has proven to be a game-changer, empowering thousands of African businesses with funding, mentorship, and business training. Since its inception, the programme has helped create 1.5 million jobs, generated $4.2 billion in revenue, and lifted over two million Africans out of poverty.
Empowering Africa’s Entrepreneurs
Each selected entrepreneur will receive a $5,000 non-refundable seed grant, access to world-class business training via TEFConnect, one-on-one mentorship, and exclusive networking opportunities with international investors. To ensure a fair and transparent selection process, Ernst & Young will oversee the evaluation of applicants.
Beyond financial support, the TEF Entrepreneurship Programme is recognized for shaping Africa’s future, with beneficiaries consistently attesting to its life-changing impact.
Tony Elumelu’s Vision for Africa’s Future
Speaking ahead of the upcoming announcement, Tony O. Elumelu, Founder of TEF and Chairman of Heirs Holdings, reaffirmed his unwavering commitment to African entrepreneurs:
“I believe that Africa’s transformation will not be led by aid, but by empowering the next generation of African entrepreneurs—giving them the tools, funding, training, and networks to build sustainable businesses that create jobs and drive economic growth.
Over the past decade, we have nurtured entrepreneurs from inception to success, expanding our impact across all 54 African countries. We have developed a robust monitoring and evaluation framework to track their progress and measure their contributions to their communities and economies.”
Elumelu emphasized that no other organization is supporting entrepreneurship at this scale across Africa. He highlighted TEF’s continuous improvements in refining the program to ensure African business owners—both men and women—are at the forefront of solving the continent’s challenges while creating wealth and prosperity.
Africa’s Future Depends on Entrepreneurship
As TEF prepares to welcome its 2025 cohort, Elumelu expressed confidence that these new entrepreneurs will play a pivotal role in driving Africa’s economic growth. He extended his best wishes to the incoming cohort, reiterating that Africa’s success depends on a thriving entrepreneurial ecosystem.
With its unmatched dedication to fostering innovation and economic independence, the Tony Elumelu Foundation continues to lead the charge in redefining Africa’s business landscape—one entrepreneur at a time.
