2 weeks Ago By Guardian Nigeria
Africa’s leading philanthropy empowering entrepreneurs, Tony Elumelu Foundation (TEF), is set to announce the 11th cohort of the TEF Entrepreneurship Programme on Saturday, March 22, 2025. The 2025 announcement comes at a critical time, as Africa’s entrepreneurship ecosystem faces funding constraints and global economic headwinds. TEF continues to provide much-needed support, empowering African entrepreneurs to transform their ideas into sustainable businesses and engines of economic growth.
Each selected Tony Elumelu Entrepreneur will receive $5,000 non-refundable seed capital, world-class business training on TEFConnect, one-on-one mentorship, and access to global networks and investment opportunities. The selection process is being conducted by Ernst & Young, to ensure independent assessment. Ahead of the upcoming announcement, Founder of TEF and Group Chairman of Heirs Holdings, Tony O.
Elumelu, has reiterated his unwavering belief in the potential of Africa’s entrepreneurs. His words: “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, the funding, the training, and the networks to build sustainable businesses that create jobs and drive economic growth. “Over the past decade, we have nurtured entrepreneurs from inception to success, scaling our impact across all 54 African countries.
We have provided capital and also developed a robust monitoring and evaluation framework that allows us to track the progress of our entrepreneurs and measure their contributions to their communities and economies. “No other organisation is implementing entrepreneurship development at this scale across Africa. We have learned, we have refined, and we continue to improve, ensuring that African entrepreneurs — women and men — are at the forefront of solving our continent’s challenges and creating wealth for themselves and their communities.
Entrepreneurship is the key to Africa’s prosperity. “I wish the 2025 cohort of Tony Elumelu Entrepreneurs success, as they chase their ambitions, and play their part in Africa’s transformation.” The impact of the Tony Elumelu Foundation extends beyond funding.
It is changing lives and shaping Africa’s future, as witnessed by beneficiaries of the catalytic TEF Entrepreneurship Programme. Tony Elumelu Entrepreneurs have collectively created 1.5 million jobs and generated $4.
2 billion in revenue, while over two million Africans have been lifted out of poverty. An agritech entrepreneur, Fatima Diallo, a Senegalese, praised the foundation’s impact on her business. “I started my agribusiness with nothing but an idea.
TEF changed everything. With the funding, training, and mentorship, I have now expanded across three countries and employ 25 people,” Diallo said. A fintech founder from Nigeria, Mary Okeke, also said: “As a woman in the fintech industry, it was difficult to secure funding.
TEF not only provided me with capital but also the confidence and skills to build a business that is now attracting international investors.” Speaking in the same vein, Juma Nyerere from Tanzania, who is a renewable energy entrepreneur, said: “The TEF Entrepreneurship Programme helped me commercialise my clean energy innovation. Today, we provide solar solutions to over 50,000 homes in rural Tanzania.
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