- Over 265,000 applications received - from all 54 African countries
- Underscoring Africa’s vibrant entrepreneurial sector and the vital role of early-stage funding
- Agriculture, Artificial Intelligence, Healthcare and Green Economy top sectors from applicants
- US$16 million to be disbursed throughout 2026, including progammes with global partners
The Tony Elumelu Foundation (TEF), a leading philanthropic organisation dedicated to empowering young African entrepreneurs, has announced that it will unveil the 12th cohort of its flagship TEF Entrepreneurship Programme on Sunday, March 22, 2026.
The announcement is highly anticipated across Africa’s business and startup ecosystem, as the programme continues to serve as a critical platform for nurturing innovation, supporting early-stage ventures, and addressing the continent’s unemployment challenges through entrepreneurship.
In 2026, the Foundation will empower a total of 3,200 entrepreneurs across all its entrepreneurship programmes:
- 1,751 entrepreneurs through Heirs Holdings Group: Heirs Energies, Transcorp Power, Transcorp Hotels, and United Capital;
- 1,049 entrepreneurs in partnership with the European Commission, OACPS, BMZ and GIZ;
- 100 entrepreneurs in partnership with Sèmè City Development Agency;
- 100 entrepreneurs in partnership with DEG, the German Development Agency;
- 100 entrepreneurs in partnership with the IKEA Foundation, UNICEF’s Generation Unlimited and the Dutch Government; and
- 100 entrepreneurs in partnership with UNDP and the Rwandan Ministry of Youth and Arts.
From this highly competitive pool, a new cohort will be selected to join the Foundation’s growing alumni network of over 24,000 entrepreneurs. The selection process is being independently managed by Ernst & Young, ensuring a transparent, merit-based, and rigorous evaluation of candidates.
Successful applicants—known as Tony Elumelu Entrepreneurs—will each receive $5,000 in non-refundable seed funding, alongside access to world-class business training via TEFConnect, the Foundation’s proprietary digital platform. The programme also offers one-on-one mentorship and integration into a robust ecosystem of investors, business leaders, and fellow entrepreneurs across Africa and beyond.
Over the years, the Foundation has built a significant track record in driving entrepreneurship-led development. More than 2.5 million young Africans have benefited from business training through TEFConnect, while over $100 million in seed capital has been disbursed to selected entrepreneurs. The ripple effects have been substantial: beneficiaries have collectively generated $4.2 billion in revenue and created over 1.5 million jobs, both directly and indirectly.
Beyond financial metrics, the programme has delivered notable social impact—lifting an estimated 2.1 million Africans out of poverty and improving the livelihoods of more than 4 million households. Notably, women account for 46% of supported entrepreneurs, underscoring a strong commitment to gender inclusion.
Speaking ahead of the official announcement of the 2026 cohort, Tony O. Elumelu reaffirmed his long-standing conviction in the transformative power of entrepreneurship on the continent. He emphasized that Africa’s future hinges on empowering individuals who can build businesses, create jobs, and tackle local challenges with innovative solutions.
The unveiling of the new cohort is expected to further expand the Foundation’s impact footprint, as anticipation builds across Africa’s entrepreneurial ecosystem. Participants and stakeholders have been encouraged to mark their calendars and join the announcement virtually, where the next generation of African business leaders will be formally introduced.