Lagos, Nigeria – The Tony Elumelu Foundation (TEF) has proudly unveiled the 3,000 young entrepreneurs across 52 African countries, selected for the 11th cohort of the Tony Elumelu Foundation Entrepreneurship Programme, with each beneficiary set to receive a $5,000 non-refundable seed grant to launch or scale their businesses.
The announcement unveiling the $15 million grant was made by TEF Founder, Tony Elumelu, marking another significant milestone in the Foundation’s mission to empower Africa’s next generation of business leaders and catalyse economic transformation across the continent.
Driving entrepreneurship amid economic challenges
This year’s selection comes at a crucial time as Africa’s entrepreneurship ecosystem faces funding constraints, economic uncertainties, and global financial pressures. The Tony Elumelu Foundation remains steadfast in its commitment to fostering innovation, providing essential capital, mentorship, and business training to entrepreneurs poised to create jobs, wealth, and economic stability.
Since its inception, the TEF Entrepreneurship Programme has empowered over 18,000 entrepreneurs from all 54 African countries, offering $5,000 in seed funding, business management training, and mentorship. This initiative continues to champion Africa’s economic prosperity by nurturing scalable and sustainable enterprises.
Impacting Africa’s economic landscape
The 3,000 entrepreneurs selected for the 2025 cohort represent diverse sectors, including technology, agriculture, healthcare, renewable energy, and creative industries. Through the programme, they will gain access to a structured 12-week business training curriculum, networking opportunities, and a global community of alumni, investors, and mentors.
Speaking on this landmark occasion, Tony O. Elumelu, CON, Founder of TEF and Chairman of Heirs Holdings, emphasised the importance of entrepreneurship in Africa’s development: “At the Tony Elumelu Foundation, we believe in the power of entrepreneurship to transform lives and economies. By equipping young entrepreneurs with the right resources, we are shaping the future of Africa and creating lasting impact.”
A commitment to Africa’s future
With an unwavering dedication to Africapitalism -the belief that Africa’s private sector must drive economic and social progress – the Tony Elumelu Foundation continues to provide an enabling environment for African entrepreneurs to thrive. By addressing funding gaps and fostering innovation, TEF reaffirms its role as a key driver of Africa’s economic resurgence.
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