The Tony Elumelu Foundation (TEF), a prominent organization supporting young African entrepreneurs from all 54 African nations, has revealed the latest group of successful entrepreneurs chosen for its tenth round of the TEF Entrepreneurship Programme.
This new group brings the total number of supported entrepreneurs to 20,000, doubling the Foundation’s initial commitment. Through direct funding, mentoring, and capacity-building, the Foundation has allocated $100 million to these entrepreneurs, resulting in the creation of over 400,000 jobs, contributing significantly to Africa’s economic progress. Notably, 45% of the beneficiaries are women, reflecting the Foundation’s dedication to gender equality.
Among the past beneficiaries are remarkable individuals like Stella Sigana from Kenya, founder of Alternative Waste Technologies, who converts organic and charcoal waste into fuel briquettes, creating jobs and empowering women in slum settlements. Another example is Vital Sounouvou from Benin, founder of Exportunity, an e-commerce platform connecting African producers with traders, thus fostering economic growth. Nora Chaynane from Morocco, founder of Shine Space, is also making an impact by guiding young Moroccans towards suitable career paths.
Since its inception in 2010, the Tony Elumelu Foundation has been at the forefront of supporting young African entrepreneurs, inspired by the philosophy of Africapitalism championed by its founder, Tony Elumelu. The Foundation’s partnerships with various organizations and governments have expanded its reach and facilitated initiatives like targeting female empowerment and promoting growth in fragile states.
Looking ahead, the Foundation plans to support an additional 100 entrepreneurs from Benin Republic in 2024 through its partnership with Sèmè City Development Agency. Tony Elumelu expressed pride in the Foundation’s impact over the past decade, highlighting the entrepreneurs’ resilience, determination, and innovation as driving forces behind Africa’s economic transformation.
As part of its ongoing commitment, the Tony Elumelu Foundation encourages African entrepreneurs to apply for opportunities such as the Women Entrepreneurship For Africa (WE4A) initiative and the Aguka Entrepreneurship Programme for Rwanda, offering training, mentorship, networking, and funding support.
For further information on the Tony Elumelu Foundation Entrepreneurship Programme “Decade of Impact,” success stories, and beneficiary breakdowns, interested individuals can visit their website
