On March 22, 2026, the Tony Elumelu Foundation (TEF) will announce the 12th cohort of its prominent TEF Entrepreneurship Programme.
The year 2026 will see the Foundation supporting 3,200 entrepreneurs through various entrepreneurship initiatives, which will include:
\- 1,751 entrepreneurs facilitated through Heirs Holdings Group’s various businesses including Heirs Energies, Transcorp Power, Transcorp Hotels, and United Capital.
\- 1,049 entrepreneurs in collaboration with the European Commission, OACPS, BMZ, and GIZ.
\- 100 entrepreneurs in partnership with Sèmè City Development Agency.
\- 100 entrepreneurs in affiliation with the Deutsche Investitions- und Entwicklungsgesellschaft (DEG) or German Development Agency.
\- 100 entrepreneurs collaborating with partners like the IKEA Foundation, UNICEF’s Generation Unlimited, and the Dutch Government; and another 100 entrepreneurs associated with the UNDP and the Rwandan Ministry of Youth and Arts.
The flagship programme attracted applications from more than 265,000 young Africans, highlighting the continent's thriving entrepreneurial landscape and ongoing funding challenges. The chosen cohort will join a community of over 24,000 TEF Alumni.
The selection process is managed by Ernst & Young, ensuring the evaluation of applicants is both independent and thorough.
Each selected entrepreneur from the Tony Elumelu Entrepreneurship Programme will receive $5,000 in non-refundable seed funding, along with access to world-class business management training via the TEFConnect platform, personalized mentorship, and immersion in a strong network of investors and fellow entrepreneurs.
The Tony Elumelu Foundation has successfully supported over 2.5 million young Africans through its business management training on the digital hub TEFConnect, having disbursed over $100 million in seed capital to more than 24,000 selected entrepreneurs.
Collectively, these entrepreneurs have generated $4.2 billion in revenues and created over 1.5 million jobs, both directly and indirectly. By cultivating the next generation of African entrepreneurs, TEF has elevated 2.1 million individuals above the poverty threshold and positively affected over 4 million households, with 46% of beneficiaries being women.
As the announcement approaches, Tony O. Elumelu, the Foundation's founder, emphasizes his steadfast faith in Africa's entrepreneurial spirit:
"Africa's future hinges on its entrepreneurs who are establishing businesses, generating employment, and addressing our continent's challenges. At the Tony Elumelu Foundation, we hold that empowering such entrepreneurs is the most sustainable route toward Africa's economic transformation."
"I am eager to celebrate and welcome the 2026 cohort of Tony Elumelu Entrepreneurs and am excited to witness the far-reaching impact they will engineer on our continent."
The public is encouraged to mark this important date and join the virtual event.
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