The Tony Elumelu Foundation (TEF) is the leading philanthropy in Africa focused on empowering African entrepreneurs. The Foundation was founded in 2010 by Tony O. Elumelu, CON, an entrepreneur, investor and philanthropist who is passionate about Africa’s economic development.
Our long-term investment in empowering African entrepreneurs is emblematic of Tony Elumelu’s philosophy of Africapitalism, which positions Africa’s private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the continent.
The Tony Elumelu Foundation Entrepreneurship Programme is the $100million commitment by the Elumelu family to empower 10,000 African entrepreneurs over a 10-year period. The goal is to create at least 1million jobs and contribute over $10billion in revenue to the African economy. Through its flagship Entrepreneurship Programme, the Foundation empowers African entrepreneurs and the entrepreneurship ecosystem across 54 African countries. The Foundation has empowered 7,531 entrepreneurs up until now.
The Programme is built on a 7-pillar model, a unique holistic system of effective and intensive support to the African entrepreneurs, consisting of start-up enterprise toolkit, online mentoring, online resource library, meet-ups, TEF Entrepreneurship Forum, seed capital and alumni network.
In 2018, the Foundation launched TEF Connect, Africa’s digital entrepreneurship hub last year to connect the entrepreneurship ecosystem and facilitate businesses beyond physical borders. The platform currently hosts 800,000 users.
The TEF Entrepreneurship Programme is open to citizens and legal residents of all African countries, who run for-profit businesses based in Africa that are no older than three years. The deadline for applications submission is March 1, 2019.
Applications will be judged based on criteria including: feasibility, scalability and potential for growth of the product/service; market opportunity for the idea/business; financial understanding, leadership potential and entrepreneurial skills.
Tony Elumelu is one of the few African billionaires that is passionate about giving back to the society, only God can bless him for us.
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