Nigerian billionaire and philanthropist Tony Elumelu marked his birthday with the unveiling of the 2026 cohort of the Tony Elumelu Foundation (TEF) Entrepreneurship Programme, reinforcing his long-standing commitment to building Africa’s next generation of business leaders.
The announcement aligns with the Foundation’s annual tradition of selecting and supporting thousands of entrepreneurs across the continent.
For the 2026 cycle, over 3,000 young African entrepreneurs are being unveiled as beneficiaries of the programme, drawn from a highly competitive pool of applicants spanning all 54 African countries.
The TEF Entrepreneurship Programme, launched in 2015, remains the largest privately funded initiative focused on empowering African entrepreneurs. Selected participants receive a comprehensive support package that includes $5,000 in non-refundable seed capital, structured business training, mentorship, and access to a continental network of founders and investors.
Elumelu used the occasion to reiterate his core philosophy of “Africapitalism,” which positions entrepreneurship and private sector investment as the primary drivers of Africa’s economic transformation.
He emphasized that empowering young Africans with capital and capacity is more effective than reliance on aid, framing entrepreneurship as a tool for job creation, poverty reduction, and long-term development. Since inception, the Foundation has recorded measurable impact across the continent.
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It has funded more than 24,000 entrepreneurs, trained over 2.5 million Africans, helped create upwards of 1.5 million jobs, and generated billions of dollars in business revenue.
The 2026 cohort represents the 12th cycle of the programme, continuing a decade-long commitment to identify, train, and fund high-potential entrepreneurs capable of scaling businesses and driving economic growth within their communities.
Source : Punch.ng
