This year’s intervention prioritizes the economic recovery
of small and medium scale enterprises (SMEs) and young African entrepreneurs,
following the Covid-19 disruption to economic activities.
To address the unique challenges arising from the pandemic, lift
millions out of poverty and create sustainable employment across the continent,
the Foundation’s Entrepreneurship Programme will empower 1,000 young African
entrepreneurs, selected from the 2020 cohort.
The Foundation will also open applications to an additional
2,400 young entrepreneurs in 2021, in collaboration with global partners.
The Tony Elumelu Foundation, which celebrated ten years of
impact in 2020, is empowering a new generation of African entrepreneurs,
through the TEF Entrepreneurship Programme.
Successful applicants receive a world-class business
training, mentorship, non-refundable seed capital up to $5,000, and global
networking opportunities. The Programme
is open to entrepreneurs across Africa, both new start-ups and existing young
businesses, operating in any sector.
CEO of the Tony Elumelu Foundation, Ifeyinwa Ugochukwu
stated:
“The Tony Elumelu Foundation now more than ever is
demonstrating our commitment to unleashing the potential of young African
entrepreneurs, the key to Africa’s long-term economic transformation. The
pandemic has created challenges across the continent, but we know that with the
Tony Elumelu Foundation’s tried and tested Programme, we can execute the largest
Covid-19 economic recovery plan for African SMEs and break the cycle of poverty
in Africa.”
The Tony Elumelu Foundation’s $100million Entrepreneurship
Programme, launched in 2015 to empower 10,000 entrepreneurs over 10 years, is
now entering its 7th year and has empowered to date, over 9,000 young African
entrepreneurs from 54 African countries.
Prospective applicants should apply using the digital
networking hub.