In a remarkable milestone, the Tony Elumelu Foundation (TEF) commemorates a decade of transformative impact through its Entrepreneurship Programme, announcing the selection of its 20,000th cohort.
Established as a beacon of hope for young African entrepreneurs across all 54 nations, the foundation has surpassed its initial commitment, reaffirming its dedication to fostering economic growth and development on the continent.
With a direct investment of US$100 million, coupled with invaluable mentoring and capacity-building support, the TEF has catalyzed the creation of over 400,000 direct and indirect jobs, significantly contributing to Africa’s economic landscape.
Notably, 46% of beneficiaries are women, underscoring the foundation’s steadfast commitment to gender equality and inclusion.
Among the notable success stories is Stella Sigana, founder of Alternative Waste Technologies in Kenya, who has not only created employment opportunities but also initiated community development projects.
Similarly, Vital Sounouvou from Benin has leveraged his platform, Exportunity, to connect African producers with global traders, fostering international trade opportunities and employment creation.
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The foundation’s approach, inspired by founder Tony O. Elumelu’s entrepreneurial journey, champions Africapitalism—a philosophy advocating for private sector-led development.
READ ALSO: TEF Empowers 1,104 Entrepreneurs with $5,000 in 2024 Cohort
Through strategic partnerships with global entities such as the European Union, United Nations Development Programme, and Google, the TEF continues to innovate and expand its reach, particularly targeting female empowerment and growth in fragile states.
Looking ahead, the Tony Elumelu Foundation remains steadfast in its mission to empower the next generation of African entrepreneurs, poised to drive sustainable economic transformation across the continent.
As Tony O. Elumelu aptly states, “The future of our continent is brighter because of their efforts.”
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