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The Tony Elumelu Foundation (TEF) has announced 3,200 entrepreneurs for its 2026 programme, a move set to accelerate business growth and innovation across Africa. Chosen from over 265,000 applicants, these young leaders will receive funding, mentorship, and resources to scale their ventures in sectors ranging from agriculture to technology.
Founder, Tony Elumelu framed the initiative as a bold effort to “democratise prosperity,” stressing that empowering entrepreneurs is essential for Africa’s sustainable development. “Your success will shape the future of the continent,” he told the new cohort.
Since 2015, TEF has invested more than $100 million in over 24,000 entrepreneurs, creating 1.5 million jobs and generating $4.2 billion in revenue. Alumni businesses have grown exponentially, impacting communities, training youth, and supporting smallholder farmers.
Global partners and private sector leaders hailed TEF’s programme as a model for inclusive growth. With its 2026 cohort now stepping forward, Africa’s entrepreneurial engine is poised to power a new era of innovation, resilience, and opportunity.
Applications to the flagship programme were received from over 265,000 young Africans, representing all 54 African countries, underscoring Africa’s vibrant entrepreneurial sector and the funding challenge for entrepreneurs.
The new cohort will join the TEF Alumni community of more than 24,000 entrepreneurs.
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The selection process is conducted by Ernst & Young, ensuring an independent and rigorous assessment of applicants.
Each selected Tony Elumelu Entrepreneur will receive $5,000 in non-refundable seed capital, access to world-class business management training on TEFConnect, one-on-one mentorship, and entry into a powerful network of investors, partners, and other entrepreneurs.
The Tony Elumelu Foundation has empowered over 2.5 million young Africans with access to business management training on our proprietary digital hub, TEFConnect, and disbursed over US$100 million in seed capital to more than 24,000 selected entrepreneurs. Collectively, these entrepreneurs have generated $4.2 billion in revenue and created more than 1.5 million direct and indirect jobs. Through our support for African entrepreneurs, TEF has lifted 2.1 million Africans above the poverty line, and positively impacted more than 4 million African households, with 46% of supported entrepreneurs being African women.
Ahead of the upcoming announcement, Tony O. Elumelu, Founder of the Tony Elumelu Foundation, reiterates his unwavering belief in the potential of Africa’s entrepreneurs:
“The future of Africa will be built by Africans who create businesses, generate jobs and solve the challenges of our continent. At the Tony Elumelu Foundation, we believe that empowering entrepreneurs is the most sustainable path to Africa’s economic transformation.
