From ambition to impact : this is the mission that drives the Tony Elumelu Foundation. This 21 March 2025 in Abuja, Nigeria, the foundation unveiled the 11ᵉ cohort of its entrepreneurship programme, a new generation of visionaries ready to transform the African economy. For the 2025 edition. There are a total of 3,000 entrepreneurs from different countries on the continent to benefit from this support from the Tony Elumelu Foundation.
It’s a new milestone for entrepreneurship in Africa. On 22 March 2025 in Abuja, Nigeria, the Tony Elumelu Foundation unveiled the 11ᵉ cohort of its mentoring programme. For the 2025 edition, 3,000 young entrepreneurs from countries across the continent will receive financial support, training and mentoring to grow their projects. Since its inception, the Tony Elumelu Foundation’s mentoring programme has supported more than 24,000 entrepreneurs and contributed to the creation of millions of jobs on the continent. According to those in charge, this initiative embodies the ambition of an Africa driven by innovation and the boldness of its young people.
“Today, as CEO of the Tony Elumelu Foundation, I can tell you that we have supported more than 24,000 young African men and women across the continent’s 54 countries. Many tell us that, even without funding, the training, mentoring and access to markets through TEFConnect.com have transformed their business in a sustainable way.”
Somachi Chris-Asoluka, CEO of the Tony Elumelu Foundation – Nigeria
Since its launch, TEF has injected more than $100 million in direct financing for African entrepreneurs, catalysing the creation of 1.5 million jobs and generating $4.2 billion in revenue. This initiative has been a powerful driver in lifting more than two million Africans out of poverty. The entrepreneurs selected will receive non-repayable seed capital of $5,000. For some, it’s not just the funding, but also the training and mentoring that have enabled them to see their dreams and projects come to fruition.
‘I have grown in strength and experience. Every day, I see my profits increase. And when I look back on my journey, I think that without the Tony Elumelu Foundation programme, which boosted my morale and supported me with seed money, I might not be where I am today. I’m very grateful to this programme. It got me to where I am today. And I will always represent the TEF Foundation with pride.’
Akinwunmi MAKINWA, Tony Elumelu Foundation Alumni 2019 – Nigeria
As these new entrepreneurs embark on their journey, they embody the hope of a continent in the throes of transformation, where each project supported represents an added stone to the edifice of a more prosperous Africa, positioning entrepreneurship as a genuine engine for growth.