The Tony Elumelu Foundation (TEF) has announced a $15 million grant to support 3,000 young entrepreneurs from 52 African countries.
Each beneficiary will receive a non-repayable $5,000 grant to launch or grow their business.
This initiative aligns with TEF’s mission to empower African entrepreneurs while driving the continent’s economic growth. The foundation not only provides access to funding but also offers mentorship and training—essential tools for the success of young businesses.
“We recognize the challenges these young people face in contributing to Africa’s economic transformation. However, with support and encouragement, these young Africans can drive meaningful change,” said Tony Elumelu, Chairman of the Foundation.
Since its launch in 2015, TEF claims to have reached over 1.5 million young African entrepreneurs and invested $100 million in direct funding to 20,000 individuals. These entrepreneurs have gone on to create 400,000 jobs and generate $2.5 billion in revenue.
