The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy supporting young entrepreneurs, will announce the 12th cohort of its flagship TEF Entrepreneurship Programme on Sunday, March 22, 2026.
In 2026, TEF aims to empower a total of 3,200 entrepreneurs across its various programmes:
- 1,751 entrepreneurs through Heirs Holdings Group: Heirs Energies, Transcorp Power, Transcorp Hotels, and United Capital;
- 1,049 entrepreneurs in partnership with the European Commission, OACPS, BMZ, and GIZ;
- 100 entrepreneurs in partnership with Sèmè City Development Agency;
- 100 entrepreneurs in partnership with DEG, the German Development Agency;
- 100 entrepreneurs in partnership with the IKEA Foundation, UNICEF’s Generation Unlimited, and the Dutch Government;
- 100 entrepreneurs in partnership with UNDP and the Rwandan Ministry of Youth and Arts.
Applications to the flagship programme were received from over 265,000 young Africans, representing all 54 African countries. This underscores both the vibrancy of Africa’s entrepreneurial sector and the high demand for funding. The new cohort will join a growing TEF Alumni community of over 24,000 entrepreneurs.
The rigorous selection process is conducted independently by Ernst & Young, ensuring fair assessment of all applicants. Each selected Tony Elumelu Entrepreneur will receive $5,000 in non-refundable seed capital, access to world-class business management training via TEFConnect, one-on-one mentorship, and entry into a robust network of investors, partners, and fellow entrepreneurs.
Since its inception, TEF has empowered more than 2.5 million young Africans through TEFConnect and disbursed over US$100 million in seed capital to over 24,000 entrepreneurs. Collectively, these entrepreneurs have generated $4.2 billion in revenue and created more than 1.5 million direct and indirect jobs. Through TEF’s support, 2.1 million Africans have been lifted above the poverty line, positively impacting over 4 million households, with 46% of beneficiaries being African women.
Tony O. Elumelu, C.F.R., Founder of the Tony Elumelu Foundation, reiterated his commitment to 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. I look forward to announcing and congratulating the 2026 cohort of Tony Elumelu Entrepreneurs and witnessing the impact they will create across our continent.”
The Foundation invites the public to save the date and join the announcement virtually.
