Apply for a $ 5,000 grant, mentorship, training and more on the TEF 2022 Entrepreneurship Program!

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The Tony Elumelu Foundation (TEF), the leading philanthropic organization that empowers young African entrepreneurs in 54 African countries, has opened applications for the TEF 2022 Entrepreneurship Program at www.TEFConnect.com. African entrepreneurs with business ideas or existing businesses less than 5 years old are encouraged to apply now for $ 5,000 seed capital, mentorship, business management training and more on the program. entrepreneurship of the Tony Elumelu Foundation 2022.

Since 2015, the TEF Entrepreneurship Program – the only Africa-funded entrepreneurship catalyst of its kind – has provided 15,847 African entrepreneurs with non-refundable seed capital of $ 5,000 each; twelve weeks of training in business management; access to experienced mentors; and membership in the largest entrepreneurial ecosystem in Africa.

In 2021, the Tony Elumelu Foundation awarded US $ 24.75 million to 5,000 African entrepreneurs across Africa for its 2021 entrepreneurship program. The Foundation’s entrepreneurship program remains one of the biggest responses. the private sector to stimulate the economic recovery of young people, women and African SMEs given the effects of the covid19 pandemic across Africa. Across Africa, beneficiaries of the Tony Elumelu Foundation Entrepreneurship Program are launching and developing pioneering businesses that have collectively created more than 400,000 direct and indirect jobs.

According to 2015 Tony Elumelu Entrepreneur, Hauwa Liman, female business owner and founder of Afrik Abaya: “I am always proud to say that I am part of the inaugural cohort of the Tony Elumelu Foundation Entrepreneurship Program. My company is located in Kaduna, in the north of Nigeria. I benefited from this program in 2015, and it opened up a lot of doors and opportunities for me. It’s not just the seed capital, but what really fascinates me about the program is the knowledge. I call it a mini-MBA program because from the ideation stage it teaches you how to really articulate your business and it gave me my first business plan. The network, visibility and opportunities are endless. My entrepreneurial experience cannot be complete without the Tony Elumelu Foundation. I will soon start exporting to other countries thanks to the Foundation. We now employ ten permanent employees and eight additional employees on the commission. “

Commenting on the launch of the 2022 Tony Elumelu Foundation Entrepreneurship Program, Tony Elumelu Foundation CEO Ifeyinwa Ugochukwu shared, “We are constantly blown away by the quality of the companies that come from Africa each year. This motivates us to step up our efforts to empower even more entrepreneurs on the continent. The innovation, knowledge and resilience of African entrepreneurs are essential to map Africa’s socio-economic transformation and achieve the continent’s development goals. We are also proud of the increased participation of women in our program, especially with the 2021 cohort where we witnessed a record 68% selection of women entrepreneurs. “

Founding Administrator of the Tony Elumelu Foundation, Dr A V. Elumelu said: “Through the Tony Elumelu Foundation entrepreneurship program, we seek to democratize luck. Hard work plays an important and undeniable role in success, but the role of luck should not be overlooked – someone willing to take a chance on you or a business idea by empowering you through training, mentorship or funding. Our hope is that, through the Tony Elumelu Foundation Entrepreneurship Program, we would help the next business leader or captain of industry to be who they are supposed to be. It’s our own way of giving back and also of empowering the generation that follows us so that they can go even further than us. As a parent, the desire is for your children to do better than you and you will therefore be providing them with the resources and materials they need to ensure they are successful in life. Likewise, at the Foundation, we are equipping the next generation with the tools they need to be successful.

As the leading champion of entrepreneurship in Africa, the Tony Elumelu Foundation empowers women and men across the African continent through entrepreneurship to catalyze economic growth, fight poverty and ensure job creation. The Foundation’s mission is rooted in the philosophy of Africapitalism, which positions the private sector as the main catalyst for the creation of economic and social wealth in Africa. Through TEFConnect, the Foundation’s exclusive digital platform, it has provided capacity building support, advice and business linkages to more than 1.5 million Africans.

The Tony Elumelu Foundation Entrepreneurship Program is open to entrepreneurs from across Africa: new start-ups and existing start-ups, operating in any sector. Potential applicants should apply now on the digital networking hub for African entrepreneurs, www.tefconnect.com. For a list of selected Tony Elumelu entrepreneurs in 2021 and more information about our program, please visit the Tony Elumelu Foundation website here.

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