Dar es Salaam, Monday 6 November 2021 – The Tony Elumelu Foundation (TEF), the leading philanthropy empowering young African entrepreneurs, will announce
Every year on January 1st, the Tony Elumelu Foundation opens its application portal to African entrepreneurs with businesses of less than five years. This year’s beneficiaries have been chosen from a pool of over 400,000 applications, selected based on their innovative and impactful business ideas. In line with the Foundation’s mission to catalyse entrepreneurship in Africa, the selected beneficiaries will consist of both new start-ups and existing young businesses in varying operational stages across different sectors.
As part of TEF’s objectives to ensure that African entrepreneurs are well equipped to build investable and profitable businesses, each beneficiary has undergone world-classbusiness management training and mentorship conducted exclusively on TEFConnect, the Foundation’s proprietary digital platform that provides capacity-building support, advisory and market linkages to over 1 million Africans and counting. The platform’s unique
Commenting ahead of the Selection Announcement event, CEO Tony Elumelu Foundation, Ifeyinwa Ugochukwu, said: “This year, with support from our global partners, we will be scaling our impact and empowering nearly 5000 entrepreneurs. A major priority for us at the Foundation for 2021 remains the economic recovery of small and medium scale enterprises (SMEs) following the Covid-19 disruption to economic activities. We are very excited to be unveiling the 2021 cohort of the Tony Elumelu Entrepreneurship programme. I believe the $5,000 we are giving to each entrepreneur will address some pressing demands and reduce the burden brought about by the pandemic.”
“Year after year, we are greatly inspired by the tenacity and quality of business ideas that come out of Africa. This only proves that young Africans need organisations like the Tony Elumelu Foundation who are willing to take a chance on them and their ideas”, she concluded.
Through the US$100million TEF