A founding Director of Heirs Holdings, the family-owned investment company, investing in strategic sectors of the African economy, including energy, power, banking, insurance and financial services, technology, real estate and hospitality and healthcare, and committed to improving lives and transforming Africa, Dr Elumelu also chairs several Heirs Holdings group boards, including:

• Avon Healthcare Limited (Avon HMO), Nigeria’s leading health insurance provider, and Avon Medical Practice, a growing network of full-service clinics and medical centres, driven by her commitment to improving access to quality healthcare in Nigeria.

• Heirs Insurance Brokers, the brokerage arm of Heirs Insurance Group. Through an extensive network of insurance partners, Heirs Insurance Brokers delivers tailored solutions that help clients mitigate risks, protect assets, and preserve wealth.

• Transcorp Hotels Plc, Nigeria’s leading hospitality company, owner of the iconic Transcorp Hilton Hotel Abuja, where she drives its commitment to redefining hospitality across the continent. Transcorp Hotels is a subsidiary of Transnational Corporation Plc, Nigeria’s largest quoted conglomerate with strategic investments in the power, hospitality, and energy sectors.

As Co-Founder of The Tony Elumelu Foundation, committed to empowering entrepreneurs across Africa, Dr Elumelu advocates extensively for gender inclusion and youth entrepreneurship, across the continent. The Foundation has empowered over 27,000 young African men and women across the 54 African countries with non-refundable grants, mentorship, and business training.

In 2023, in recognition of Dr Elumelu’s healthcare leadership, entrepreneurship development, and philanthropy, she was conferred the ‘Officer of the Order of the Federal Republic’. In 2026, she was recognised as a TIME100 Philanthropy honouree, named among the world’s most influential philanthropists for her transformative impact across Africa through the Foundation.

In 2018, Dr. Elumelu was appointed as the Private Sector Champion for Immunisation in Africa by Gavi, the Vaccine Alliance. In this role, she harnesses her knowledge, corporate networks, and expertise from the healthcare and business sectors to champion vaccination and immunisation in Africa.

She also sits on a number of regional and global boards including the Yale Institute for Global Health, the Ellen Johnson Sirleaf (EJS) Presidential Centre for Women and Development, the African Union’s African High-Level Ministerial Committee on Global Health Architecture (AHLMC).

Dr. Elumelu holds a Bachelor of Medicine, Bachelor of Surgery degree from the University of Benin, with advanced executive and professional certifications from the International Institute for Management Development, Switzerland, Harvard Business School, and the Indian School of Business. Her career as a medical doctor includes experience with the Lagos University Teaching Hospital, in Nigeria, and Grantham and District Hospital, Grantham, in the UK.

The post Dr. Awele V. Elumelu O.F.R appeared first on The Tony Elumelu Foundation.

Mr. Elumelu pursues a single ambition — to improve lives and transform Africa — by committing long-term capital to the sectors that shape the continent’s future: financial services, power, energy, hospitality, technology and healthcare.

His track record in banking is among the most consequential in modern African finance. He founded Standard Trust Bank and led its merger with United Bank for Africa, forging a pan-African institution that today operates in 20 African countries, as well as the United Kingdom, France, the UAE and the United States. In America, UBA is the only African banking group with a commercial deposit-taking presence. He served as Group Chairman of UBA from 2014 to 2026.

He also chairs Transcorp Group, Nigeria’s leading listed conglomerate, with interests in power, energy and hospitality. Transcorp’s power business accounts for 15% of Nigeria’s installed generating capacity and anchors a larger ambition: creating Africa’s largest integrated energy business, and ensuring that the value of Africa’s resources is captured in Africa.

He founded Heirs Energies, which acquired Shell’s OML 17 and rapidly tripled production to more than 70,000 barrels of oil equivalent (BOE), while integrating gas production to meet Nigeria’s domestic energy needs. Heirs Energies became Seplat Energy’s single largest shareholder in January 2026 and both groups now account for circa 20% of Nigeria’s oil production.

With his wife, Dr Awele Elumelu, he established the Tony Elumelu Foundation in 2010 to advance Africapitalism — his conviction that the African private sector is the continent’s most powerful catalyst for social and economic development. Since its flagship Entrepreneurship Programme launched in 2015, the Foundation has committed more than US$120 million in non-refundable seed capital to 24,633 young entrepreneurs across all 54 African countries — businesses that have since generated US$4.2 billion in revenue and created 1.5 million jobs.

In 2020, TIME magazine named Mr. Elumelu as one of the 100 Most Influential People in the World, and in 2026 Mr. and Dr Elumelu were celebrated as TIME Magazine 2026 TIME100 Philanthropy honourees. Mr. Elumelu sits on a number of global boards, including the Global Leadership Council of UNICEF Generation Unlimited and the International Monetary Fund’s Advisory Council on Entrepreneurship and Growth.

The post Tony O. Elumelu, CFR appeared first on The Tony Elumelu Foundation.

What too often stands between an idea and a thriving enterprise is not a shortage of ingenuity, but access to the right capital at the right time.

In a recent op-ed for Fortune, our founder Tony O. Elumelu, CFR, makes a compelling case for putting early-stage capital at the centre of Africa’s job-creation conversation. His argument points to a fundamental economic reality: the entrepreneurs capable of creating the next generation of African businesses and jobs cannot build at scale if capital reaches them only after they have already proven their success.

At The Tony Elumelu Foundation, we have seen this reality first-hand since 2010.

Capital at the beginning can change everything

For many African entrepreneurs, the earliest stage of a business is also the most difficult.

An entrepreneur may have identified a genuine market need, developed a viable product and found their first customers, yet still lack the working capital needed to purchase equipment, hire an employee, reach new customers or expand production.

Traditional financing can be particularly difficult to access at this stage. Businesses may not have sufficient collateral, long credit history, or the scale that conventional investors typically require.

This creates a paradox: entrepreneurs are expected to demonstrate growth before they can access the capital that would enable that growth.

Early-stage capital can help break that cycle.

A relatively modest investment, when deployed at the right moment, can enable an entrepreneur to move from an idea to a functioning enterprise, from a sole operator to an employer, and from a local solution to a scalable business.

The impact therefore extends beyond the individual entrepreneur.

When a business grows, it can create jobs. Those jobs support households. Growing businesses create demand for suppliers and service providers. They contribute to local economies and, over time, strengthen the productive capacity of communities and countries.

This is why the conversation about entrepreneurial finance is ultimately a conversation about economic development.

Investing in entrepreneurs means investing in Africa

Since 2010, the Tony Elumelu Foundation has championed the belief that African entrepreneurs are not simply beneficiaries of development; they are active drivers of it.

Through its flagship entrepreneurship programme, the Tony Elumelu Foundation provides young African entrepreneurs with training, mentorship, non-refundable seed capital and access to a wider entrepreneurial network.

The approach is rooted in a simple principle: opportunity should not be determined by geography, background, or access to traditional finance networks.

Africa’s entrepreneurs should have the opportunity to build.

But capital alone is not enough.

An entrepreneur may receive funding and still need to understand how to manage cash flow, reach customers, build a team, formalise a business, navigate markets, or prepare for growth. This is why effective entrepreneurship support must go beyond writing a cheque.

It must build capability alongside capital.

It must provide networks alongside funding.

And it must give entrepreneurs the confidence and knowledge to turn an opportunity into a sustainable enterprise.

“I first learned the importance of giving people a chance when, as a child, I watched my mother build a small restaurant through hard work and determination. Later, I benefited from those who believed in my potential and opened doors for me. I call this “democratizing luck”: ensuring access to opportunity is not limited to a fortunate few.” Tony O. Elumelu CFR

Over 15 years of putting the idea into practice

The recently released 15-Year Impact Report of The Tony Elumelu Foundation, launched on the sidelines of the 81st United Nations General Assembly in New York, documents our journey and the impact of investing in African entrepreneurship at scale.

Since 2010, the Tony Elumelu Foundation has supported entrepreneurs across all 54 African countries, helping to create opportunities for people who might otherwise have remained outside traditional systems of finance and economic opportunity.

The stories captured in the report are ultimately about more than the number of entrepreneurs supported, or the amount of capital deployed.

It is about what happens when African entrepreneurs are allowed to build.

It is about businesses emerging from ideas.

It is about entrepreneurs employing others.

It is about families gaining new sources of income.

It is about communities developing solutions to local problems.

And it is about demonstrating that African entrepreneurs can be both beneficiaries and architects of the continent’s economic transformation.

The Tony Elumelu Foundation’s 15-year journey offers an important lesson: when investment in entrepreneurship is sustained, inclusive and designed around the realities of African businesses, its potential reaches far beyond individual enterprises.

If we want jobs, we must invest in job creators

Africa’s employment challenge makes this more urgent.

The continent has one of the world’s youngest populations, and millions of young Africans will enter the labour market in the years ahead. Creating productive employment at the scale required will demand more than governments and large corporations alone can provide.

It will require millions of businesses to start, survive, grow and hire.

That means entrepreneurs must be recognised as part of Africa’s employment infrastructure.

The conversation therefore needs to evolve.

Instead of asking only how we can create more jobs, we should also ask:

How do we create more job creators?

• Instead of asking only how we can attract capital to Africa, we should ask:

How do we ensure capital reaches entrepreneurs early enough to make a difference?

• And instead of measuring entrepreneurship support only by the number of people trained, we should ask:

What happens to the businesses, jobs, revenues, and communities that emerge afterwards?

These questions shift the conversation from short-term intervention to long-term economic transformation.

The next chapter belongs to those willing to invest in African ambition

Africa does not lack ideas.

It does not lack ambition.

And it does not lack entrepreneurs.

What remains a critical challenge is ensuring that the continent’s financial systems, institutions and development partners are prepared to back that ambition early enough—and consistently enough—for it to reach its full potential.

The Fortune op-ed is an important reminder of why these matters. But the conversation cannot end with recognising the problem.

It must move towards action.

For governments, this means creating environments in which businesses can start and grow.

For financial institutions, it means developing financing models that reflect the realities of early-stage African businesses.

For investors and development partners, it means looking beyond established enterprises and considering the entrepreneurs who are still building.

And for organisations such as The Tony Elumelu Foundation, it means continuing to demonstrate what is possible when African entrepreneurs are given the capital, knowledge and networks to build.

Fifteen years of experience has reinforced a conviction that remains as relevant today as it was when the Foundation began:

When we invest in African entrepreneurs, we invest in Africa’s future.

The opportunity before Africa is not simply to create more entrepreneurs.

It is to give more of them a genuine chance to succeed and, in doing so, create the businesses, jobs and economic opportunities that will shape the continent’s next chapter.

Read the full Fortune op-ed.

Read The Tony Elumelu Foundation’s 15-Year Impact Report.

The post Africa Has the Entrepreneurs. What It Needs Is the Capital to Back Them appeared first on The Tony Elumelu Foundation.

The contrast stayed with him.

Rather than treating waste as simply an environmental problem, Haroun Mahamat Adoum saw an opportunity to build a service that could improve urban sanitation while creating employment and laying the groundwork for recycling.

That vision became The First Waste Management, a growing environmental services company providing household waste collection in N’Djamena and working towards a more sustainable approach to waste management in Chad.

Turning an everyday problem into an enterprise

Waste management may not immediately seem like an area for entrepreneurship, but for Haroun, the need was clear.

As cities grow, so does the volume of waste they produce. Without reliable collection systems, rubbish can accumulate in residential communities, affecting the cleanliness of neighbourhoods and creating wider environmental and public health concerns.

Haroun’s experience abroad gave him a practical reference point for what organised waste management could look like.

He returned with the conviction that Chad needed businesses capable of providing structured services rather than relying solely on informal or inconsistent approaches.

The result was The First Waste Management, built around a straightforward proposition: make waste collection more accessible, organised and reliable for households.

From an idea with no equipment to a working waste collection service

The First Waste Management started with little more than Haroun’s vision.

Before joining the Tony Elumelu Foundation Entrepreneurship Programme, the business had no revenue, equipment or operational infrastructure. Turning the concept into a functioning service therefore required both financial resources and the business knowledge to establish a sustainable operating model.

Today, the company provides door-to-door household waste collection in N’Djamena’s 4th arrondissement.

Residents can subscribe to the service for 500 CFA per household, giving them access to a more structured way of disposing of household waste.

The business has also created its first jobs, growing to a team of five employees, including one woman.

While household collection is the company’s starting point, Haroun’s ambitions extend further. He is working towards introducing recycling initiatives that can recover useful materials from collected waste, reduce environmental pollution and create additional economic value from resources that would otherwise be discarded.

How the Tony Elumelu Foundation helped Haroun Mahamat Adoum move from vision to action

For Haroun, turning an environmental idea into a functioning business required more than identifying a problem. He needed the capital, entrepreneurial knowledge and support network to build the foundations of the company.

In 2021, he joined the Tony Elumelu Foundation Entrepreneurship Programme, receiving US$5,000 in seed capital, alongside business training, mentorship and access to the Foundation’s pan-African entrepreneurial network.

The support helped move The First Waste Management from concept to operation.

Haroun used the seed capital to acquire essential equipment, launch household waste collection and recruit his first employees. The Foundation’s training also strengthened his understanding of business planning, operations and growth management.

The programme’s value extended beyond the funding itself. Through mentorship and connection to a wider community of African entrepreneurs, Haroun gained access to perspectives and knowledge that could support him as he navigated the challenges of building an emerging environmental services business.

Building a business around cleaner communities

The significance of The First Waste Management goes beyond the collection of household rubbish.

For communities, reliable waste collection can make everyday life more organised and contribute to cleaner residential environments. For the business itself, the model creates opportunities to build an emerging environmental services industry in Chad.

Employment is another part of that equation.

As the company grows, opportunities can emerge across collection, logistics, administration, recycling and other areas of waste management. Haroun’s early decision to build a formal enterprise around waste services therefore creates a foundation for economic activity alongside its environmental objectives.

His planned move into recycling could take that model further by treating waste not simply as something to remove, but as a resource that can be recovered, processed and reused.

That shift—from waste disposal to resource recovery—is central to the longer-term opportunity Haroun sees for the business.

A bigger vision for waste management in Chad

Haroun Mahamat Adoum’s ambition is not limited to one neighbourhood in N’Djamena.

He plans to expand The First Waste Management into other major cities across Chad while developing recycling facilities and community education programmes around responsible waste disposal and waste segregation.

The objective is to build a more integrated waste management model—one that combines collection, environmental awareness and resource recovery.

For a country where structured waste management remains an emerging area, that represents an opportunity to build the sector alongside the growth of its cities.

Haroun’s journey also illustrates how entrepreneurship can emerge from personal experience. His exposure to organised sanitation systems abroad did not simply change his perspective on waste; it helped him recognise a service gap that could be addressed through a locally built business.

The road ahead for Haroun Mahamat Adoum

The First Waste Management is still at an early stage, but its direction is clear.

Haroun wants to expand household collection, introduce recycling and build systems that can serve communities at a larger scale. His longer-term ambition is to contribute to sustainable urban sanitation across Chad and position the country as a stronger example of environmental entrepreneurship in Central Africa.

For Haroun Mahamat Adoum, cleaner cities are not an abstract environmental goal. They are the result of practical systems, reliable services and people willing to build them.

Through The First Waste Management, he is turning that belief into a business—one household, one employee and one cleaner community at a time.

The post Haroun Mahamat Adoum Is Transforming Waste Management in Chad for a Cleaner Future appeared first on The Tony Elumelu Foundation.

Cameroon grows cocoa, but for Christian, producing the raw ingredient was only part of the opportunity. The bigger question was what could happen if more of that cocoa was transformed locally into premium products carrying an African identity.

That question led him to create Royal Chocolate, a Cameroonian confectionery company producing handcrafted chocolates that combine locally inspired ingredients, artisanal techniques and contemporary branding.

Founded in Yaoundé in 2018, Royal Chocolate is building a premium chocolate brand while demonstrating how African entrepreneurs can capture more value from the continent’s agricultural resources.

From cocoa production to African-made luxury

For Christian Donfack Djoumessi, chocolate represents more than an indulgent product. It is an opportunity to connect agriculture, manufacturing, creativity and African identity.

Cameroon is a major cocoa-producing country, yet much of the value associated with cocoa is generated after the raw commodity leaves the continent. Christian saw an opportunity to change that equation by developing finished chocolate products closer to the source.

At Royal Chocolate, cocoa is transformed into handcrafted products designed for consumers who value quality, distinctive flavours and thoughtful presentation.

The company also incorporates African-inspired ingredients such as moringa, creating products that give familiar chocolate experiences a distinctly local character.

This approach places value addition at the centre of the business. Instead of stopping at cocoa production, Royal Chocolate takes the product further—from raw agricultural commodity to finished, branded consumer product.

Royal Chocolate is growing a premium confectionery brand from Cameroon

Royal Chocolate began as a relatively small operation.

Before joining the Tony Elumelu Foundation Entrepreneurship Programme, the company generated approximately US$20,000 in annual revenue, employed five people and primarily served customers in Yaoundé. Much of its production was manual, limiting how quickly the business could respond to growing demand.

Christian recognised that building a stronger chocolate brand would require more than a good product. Production capacity, packaging, branding and distribution would all have to evolve alongside the business.

Today, Royal Chocolate’s portfolio includes artisan chocolate bars, chocolate-covered treats and premium chocolate collections designed for corporate gifting, celebrations and special occasions.

Its distribution footprint has also expanded beyond Yaoundé. The brand has secured placements in major supermarkets and extended its reach to Douala, Nigeria and Equatorial Guinea, while also working with a distributor in Morocco.

The expansion reflects a broader ambition: to build a chocolate company from Cameroon that can compete in regional and international markets while retaining its African identity.

How the Tony Elumelu Foundation helped Royal Chocolate scale

For an early-stage manufacturing business, moving from artisanal production towards a more structured operation requires capital, knowledge and the right business networks.

In 2019, Christian Donfack Djoumessi joined the Tony Elumelu Foundation Entrepreneurship Programme, receiving US$5,000 in seed capital, alongside business training, mentorship and access to the Foundation’s pan-African entrepreneurial network.

The support gave Royal Chocolate an opportunity to strengthen several areas of the business at the same time.

Christian used the seed capital to invest in improved production equipment, enhanced packaging and a more structured distribution model. The programme’s training also strengthened his approach to financial management, branding and business strategy, while mentorship provided additional guidance as the company worked towards greater scale.

The change was reflected in the company’s performance.

Royal Chocolate’s annual revenue grew from approximately US$20,000 to US$45,000, while its workforce increased from five employees to ten. Women now make up the majority of the company’s team, creating additional employment opportunities within the local economy.

For Christian, the growth represents more than increased sales. It demonstrates what can happen when a locally developed product is supported with the resources and business capabilities needed to move from small-scale production towards a stronger commercial operation.

Building value beyond the chocolate bar

The significance of Royal Chocolate extends beyond confectionery.

Chocolate sits at the intersection of agriculture and manufacturing, making it an example of how African economies can create greater value from commodities produced on the continent.

By processing cocoa into finished products in Cameroon, Christian Donfack Djoumessi is participating in a value chain that creates opportunities in production, packaging, sales, distribution and branding.

The company’s journey has also attracted international attention. Royal Chocolate was selected by UNIDO/ITPO as one of Africa’s most scalable businesses and represented Cameroon at the World Entrepreneurship Forum in Dubai.

These milestones have helped place the company within a wider conversation about African businesses moving beyond raw material production and building globally competitive consumer brands.

For Christian, the opportunity is ultimately about changing perceptions—both of what African businesses can produce and of where premium products can come from.

A chocolate brand carrying an African story

The global chocolate industry has traditionally placed considerable emphasis on European craftsmanship and branding, even though cocoa is predominantly grown in tropical regions, including Africa.

Royal Chocolate offers a different proposition.

Its identity is rooted in Cameroon, its primary raw material is cocoa, and its products incorporate ingredients and ideas drawn from the African context. The result is a brand that does not simply participate in the global chocolate market but seeks to bring an African perspective to it.

That distinction matters.

For consumers, it creates an opportunity to discover chocolate through flavours and stories connected to the continent. For African entrepreneurs, it demonstrates the commercial possibilities of transforming locally available resources into finished products with higher value.

What comes next for Christian Donfack Djoumessi and Royal Chocolate

Christian’s ambition is to establish Royal Chocolate as one of Africa’s leading luxury confectionery brands.

The company plans to strengthen automation, improve production efficiency, expand sustainable cocoa sourcing and develop strategic partnerships that can support growth across African and international markets.

The long-term opportunity is significant. As consumers increasingly seek products with distinctive origins, authentic stories and responsible supply chains, African-made premium foods have an opportunity to compete on more than price.

Christian Donfack Djoumessi is building Royal Chocolate around that possibility.

His journey shows that Africa’s cocoa story does not have to end when the beans leave the farm. It can continue through manufacturing, creativity, branding and entrepreneurship—creating products that carry African value from the farm to the finished product and, ultimately, to consumers around the world.

Through Royal Chocolate, Christian is not simply making chocolate in Cameroon. He is building a case for what African value addition can look like when local resources, entrepreneurial ambition and premium branding come together.

The post Christian Donfack Djoumessi Is Redefining Luxury Chocolate in Cameroon: A 2019 TEF Success Story appeared first on The Tony Elumelu Foundation.

The Tony Elumelu Foundation marks 15 years of impact at UNGA81, the IYBA WE4A verification tour reaches its final stop in Uganda after crossing eight countries, and we spotlight an alumna using technology to make financial management easier for small businesses.

15 Years of Impact. Thousands of Stories. One Bigger Vision.

Fifteen years ago, the goal was simple: give African entrepreneurs the opportunity to build.

Since then, thousands of entrepreneurs have turned that opportunity into businesses, jobs, products, and solutions for their communities.

Last week, The Tony Elumelu Foundation launched its 15 Year Impact Report on the sidelines of the 81st United Nations General Assembly (UNGA81) in New York, bringing together Foundation leadership, partners, and members of the wider entrepreneurship ecosystem to reflect on 15 years of African entrepreneurship and impact.

And, of course, our Alumni were part of the story. Behind every number in an impact report is a person who started somewhere, a business that began with an idea, and a Founder who decided to try.

That is 15 years of impact. And we are still building.

Download The 15 Year Impact Report

Two Masterclasses with Two Global Organisations in One Week.

This week, we’re bringing you two expert-led masterclasses!

In collaboration with Deloitte and Google, we have organised these masterclasses designed to equip you with practical strategies to grow, scale, and market your business more effectively.

Whether you’re looking to replicate a successful business model or discover how AI can transform your marketing, these are two sessions you won’t want to miss!

Masterclass 1: Deloitte | Franchising & Replicating Your Model
Wednesday, 30 September 2026 | 1 PM WAT

This will be going live on YOUTUBE so set your reminders.

Discover practical approaches to franchising, replicating your business model, and building for sustainable growth.

Masterclass 2: Google | Practical AI for Marketing
Friday, 2 October 2026 | 10 AM WAT

Learn how to put AI to work in your marketing and explore practical ways to reach customers and market your business smarter.

Registered for the Google masterclass? Keep an eye on your inbox! We’ll be sharing more details about the session with registered participants via email.

Come ready to learn, engage, ask questions, and take practical insights back to your business.

The IYBA WE4A Physical Verification Exercise: Final Stop, Uganda

It’s been a long road.

The IYBA WE4A Physical Verification Exercise has taken us across eight countries: Mozambique, Malawi, Tanzania, Senegal, Kenya, Cameroon, Togo, and now Uganda. Eight countries. Countless conversations. Women led businesses creating green and sustainable solutions in their communities.

The IYBA WE4A Entrepreneurship Programme supports women entrepreneurs across eight Sub Saharan African countries who are building businesses that contribute to the green transformation. The verification exercise has been an opportunity to meet these entrepreneurs where they are and see their work firsthand.

Last week, we visited women entrepreneurs in Togo.

Catch up on the Togo visit

And now, we arrive at the final stop: Uganda.

Uganda, we’re coming your way. This is the last leg, and we’re making it count.

To all Alumni in Uganda who have volunteered to support the exercise, thank you. We cannot wait to see you!

From Financial Confusion to Financial Clarity: Meet Olapeju Nwanganga

For many small businesses, the numbers can quickly become a problem. Sales are coming in, expenses are going out, stock needs tracking, records need keeping, and bookkeeping becomes one more thing to worry about.

Olapeju Nwanganga saw this problem and decided to build a solution.

The Founder and CEO of Ploutos Page Limited, Olapeju is building tools that make financial management simpler for MSMEs. Her business has three core products: Pepcode, which helps startups and MSMEs track sales, expenses, and inventory; AuditMe, which connects businesses with licensed auditors for affordable audit services; and ÓWÀ by Pepcode, an agent led bookkeeping solution designed specifically for women traders in open markets.

But her work goes beyond software. Olapeju is focused on helping business owners understand their numbers, make better decisions, and become better prepared for growth and access to funding.

Since her TEF journey, Ploutos Page has opened a bigger office, launched ÓWÀ by Pepcode for market women, and gained strategic partnerships.

For Olapeju, entrepreneurship started with a simple observation: many small businesses struggle with financial management because they lack access to simple, practical tools. So she built one. Sometimes, growth starts with understanding the numbers.

You can find her via: LinkedIn / Instagram

Learn Something This Week

Before you leave, sit with this for a second…

Speaking about building institutions that last, our Founder, Tony O. Elumelu, shared that, “Success isn’t measured by profit alone. It’s measured by what remains after the founder is gone.”

For every entrepreneur, the reminder is simple: build for today, but keep tomorrow in mind. Build the systems. Build the team. Build the relationships. Build something that can outlive the moment.

Have You Claimed Your TEF Alumni Health Benefits Yet?

As a TEF Alumnus, you have access to exclusive healthcare benefits through Avon Medical and Avon HMO, including 20% off medical checks and up to 10% savings on SME health plans.

If you haven’t signed up yet, take advantage of these offers to support the health and wellbeing of yourself, your family, and your employees.

Claim Avon Medical Discounts Access Avon HMO Offers

Your growth matters, and we’re committed to connecting you to opportunities that can help you and your business go further.

Stay Connected. Stay Informed. We’re Always Listening.

There’s always something happening at TEF, and we don’t want you to miss a thing!

Follow @TEFConnect across our social media platforms to stay up to date on the latest opportunities, programmes, events, masterclasses, resources, alumni stories, and everything happening across the TEF entrepreneurial community.

📱 Connect with us on: Instagram | X | LinkedIn | Facebook | TikTok

And remember, communication goes both ways. If you have a question, concern, suggestion, feedback, or simply something you would like us to know, reach out to us directly. Our channels are open, and our team is always listening.
💬 Send us a direct message on any of our social media platforms, complete the Feedback Form below, or reach out to our team via email.

Complete the Feedback Form

Update Us About Your Latest Information

As our alumni community continues to grow, we want to ensure we stay updated with every one of you.

Whether your business location has changed, your business has evolved, or your personal details have changed, we want to know.

If you’re yet to update your information, kindly do so using the link below.

Complete The Information Update Form

Stay In Touch With TEF Via TEFConnect on Social Media

Please stay connected via TEFConnect on Instagram, X, LinkedIn, and Facebook.

Connect the Official Tony Elumelu Foundation Facebook Page

The post Alumni Weekly Newsletter – September 28, 2026 appeared first on The Tony Elumelu Foundation.

First row (L-R): Fatou Assah, Executive Director (Alt) at the International Monetary Fund; H.E. Badr Jafar, the United Arab Emirates’ Special Envoy for Business and Philanthropy and chief executive of Crescent Enterprises; Tony O. Elumelu, CFR, Founder, Tony Elumelu Foundation; Fatou Haidara, Deputy to the Director General of the United Nations Industrial Development Organization; Somachi Chris-Asoluka, CEO, Tony Elumelu Foundation.
Second row (L-R): Professor Paul Gompers of Harvard Business School; Alexander Trotter, Tony Elumelu Foundation Trustee; Kartik Jayaram, senior partner at McKinsey & Company.

• 15 years of catalysing African entrepreneurs across all 54 countries
• 24,000+ entrepreneurs funded, 3,200 additional entrepreneurs announced to be funded by 2026, 1.5 million jobs created, and US$4.2 billion in revenue generated since 2015
• The report highlights the transformative power of long-term investments in African entrepreneurs

New York, USA – 23 September 2026 – The Tony Elumelu Foundation (TEF), the leading philanthropy empowering young African entrepreneurs, today launched its 15-Year Impact Report on the sidelines of the 81st United Nations General Assembly (UNGA81) in New York, following the conclusion of its first in-person Board Meeting of 2026. The launch brought together TEF Board Members, strategic partners, development stakeholders and other leaders to mark 15 years of investment in African entrepreneurship and look ahead to the Foundation’s next phase of impact.

Collectively, TEF entrepreneurs have created more than 1.5 million direct and indirect jobs and generated more than US$4.2 billion in revenue. In addition:

• Independent assessment finds businesses funded with $5,000 grants created jobs at a cost of under $80 each, and that four in five were still trading a year later.
• Over 25% of TEF beneficiaries have acquired additional investors in their business since receiving the funding
• Programme has empowered over 7,183 women, with 85% of these women leading their businesses
• 80% of funded entrepreneurs since 2015 are still in business

The 15-Year Impact Report captures the scale of this journey, documenting entrepreneurs supported, businesses built, jobs created, lives impacted and communities transformed, while highlighting the role of sustained investment in entrepreneurship in advancing inclusive and sustainable economic growth across Africa.

The report is available on the tonyelumelufoundation.org website

The Foundation has also appointed Fatou Haidara, Deputy to the Director General of the United Nations Industrial Development Organization, and Kartik Jayaram, senior partner at McKinsey & Company, to its Advisory Board. Ms Haidara is UNIDO’s Managing Director for Global Partnerships and External Relations and the Director General’s Special Representative for Africa. Before joining UNIDO she served the Government of Mali for eight years, as Minister of Employment and Vocational Training and as Minister of Industry, Trade and Private Sector Development. Mr Jayaram, who is based in Nairobi, leads McKinsey’s sustainability practice across Eastern Europe, the Middle East and Africa, previously served as managing partner of the firm’s East African office, and co-authored its Green Africa series. He has advised the Kenyan Office of the President on the country’s Big Four agenda.

They join an Advisory Board that includes Fatou Assah, Executive Director (Alt) at the International Monetary Fund; H.E. Badr Jafar, the United Arab Emirates’ Special Envoy for Business and Philanthropy and chief executive of Crescent Enterprises; Per Heggenes, founding chief executive of the IKEA Foundation; and Professor Paul Gompers of Harvard Business School, who has written a case study on the Foundation’s work.

Speaking on the Foundation’s 15-year journey, TEF Founder, Tony O. Elumelu, CFR, said:

“”When we started in 2010 we made a simple bet: that young Africans did not need charity, they needed capital and someone willing to back them,” said Tony O. Elumelu, CFR, Founder of the Tony Elumelu Foundation. “Fifteen years and 24,633 entrepreneurs later, that is no longer an argument. It is a record. We call it democratising luck — making opportunity a matter of what you can do rather than where you were born.”

Highlighting the Foundation’s commitment to gender inclusion and women’s economic empowerment, Somachi Chris-Asoluka, CEO, Tony Elumelu Foundation, said: “In this report you will see The Tony Elumelu Foundation’s accomplishments since our founding in 2010, it takes you through all our activities even before we started our flagship entrepreneurship programme in 2015. Today, women account for 48% of Tony Elumelu Foundation beneficiaries, collectively creating nearly 580,000 direct and indirect jobs and generating more than US$319 million in annual revenue. These results demonstrate what is possible when women entrepreneurs have the access and opportunity to build and scale.”

The launch marks 15 years of sustained investment in African entrepreneurs and reinforces the Tony Elumelu Foundation’s commitment to entrepreneurship and private-sector-led development as catalysts for Africa’s economic transformation.

For more details on the Tony Elumelu Foundation’s impact visit our Impact Page, African Success Stories Page, and the 2025 TEF Annual Report

For Media Inquiries: chidinma.nwaukwa@tonyelumelufoundation.org

Partner and TEF Alumni Testimonials at the Launch Event

“We are seeing Africapitalism at work. Heirs Energies is deeply committed to supporting our local host communities, and the Tony Elumelu Foundation helps us amplify that impact. To support this work, we have committed US$5 million over two years to advance the Foundation’s programmes and expand opportunities for young African entrepreneurs.”

— Osa Igiehon, CEO, Heirs Energies

“Africa’s greatest wealth is not under the ground, but above it. Together with the Tony Elumelu Foundation, we have built the BeGreen Africa movement across the continent. We are seeing young beneficiaries create an average of six jobs and generate approximately US$16,000 in annual revenue. We have walked this journey together, and UNICEF is proud of what we are achieving.”

— Dr. Nadi Albino, Acting CEO, UNICEF Generation Unlimited

“We partnered with the Tony Elumelu Foundation to support entrepreneurs living with disabilities by funding their ideas and helping them build sustainable businesses. We have supported 40 entrepreneurs over the past few years, and they are creating jobs, generating revenue and building successful businesses. I am very proud of our partnership with the Foundation.”

— Dr. Caroline Harper CBE, CEO, Sightsavers

“Entrepreneurship is not just about building businesses; it is about transforming Africa. That is why UNDP partnered with the Tony Elumelu Foundation. We have supported 2,100 entrepreneurs and hope to do more. What makes this partnership unique is our focus on reaching entrepreneurs, including those in marginalised communities, and ensuring that opportunity extends to those who need it most.”

— Jide Okeke, Director, Regional Programme for Africa, UNDP

“Congratulations to the Tony Elumelu Foundation on the launch of its 15-Year Impact Report. In 2018, TEF supported SMEs to participate in the Intra-African Trade Fair in Cairo. One beneficiary, Ndubisi Eze, went on to secure a contract with the Singaporean government to supply drones. That is what effective partnerships can achieve. We need more of these collaborations to advance Africa’s economic development.”

— Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development, Afreximbank

“The Tony Elumelu Foundation’s BeGreen Africa Programme provided our first funding and enabled us to test our product in the market. Today, we have produced more than 1,000 bricks and reclaimed over 5,000 tonnes of plastic that could have ended up in landfills and harmed marine life. We are proud to be part of the impact captured in the Foundation’s 15-Year Impact Report.”

— Sekelo Shude, 2025 TEF Alumni, South Africa; Founder, Kuluhlaza Trading and BeGreen Entrepreneur

“Before joining the BeGreen Africa Programme, I knew I needed support to take my business forward. TEF gave me not only US$5,000 in funding, but also a mentor who provided guidance and leadership. With that support, we have leased land, expanded our operations and hired two new employees. TEF invested not just in our business, but in the people behind it, and we are committed to taking it forward.”

— Banothile Khuboni, 2025 TEF Alumni, South Africa; Founder, Imvelo Agri Solutions

“The Tony Elumelu Foundation gave us the platform and funding to take our business forward. We manufacture biomass briquettes from agricultural waste and now support more than 50 women through our business. With TEF funding, we purchased a crusher that allows us to recycle sawdust and avocado waste, while expanding our operations and creating employment for five additional young people.”

— Mary Nyambura Njeria, 2024 TEF Alumni, Kenya; CEO, Eco Charge Limited

The post The Tony Elumelu Foundation Launches 15-Year Impact Report at UNGA81, Highlighting the Power of African Entrepreneurship appeared first on The Tony Elumelu Foundation.

Making money today is good. But what happens when the market changes, resources get tighter, or the way people do business shifts entirely?

That’s where sustainability comes in.

For entrepreneurs, sustainability isn’t just about protecting the environment. It’s about building businesses that can adapt, stay relevant and keep creating value for the long run.

So — how do you build a business that lasts? Keep reading, we’ve got some answers below.

TEF Alumni at UNGA, the IYBA WE4A verification tour rolls into Togo, we’re spotlighting a Burkinabè fashion founder who turned $10 a month into $500, and a Deloitte strategist joins us to talk sustainability.

TEF Alumni at UNGA

The Tony Elumelu Foundation will be launching its 15th Year Impact Report at the 81st United Nations General Assembly on Wednesday, September 23, and our Alumni will be there live, showcasing their businesses and sharing their entrepreneurial journeys since receiving support from the Foundation.

Show Up for the Next Generation of Entrepreneurs

Last week, the team was in Cameroon, and once again, our Alumni showed up, giving their time, energy and honest support to entrepreneurs still finding their footing.

That’s the thing about this community: nobody forgets who helped them up, so everybody keeps a hand reaching back.

Watch the highlights on Instagram

Now, we’re on the move again.

Togo, We’re on Our Way!

Bags? Packed.
Plans? In motion.
Excitement? Definitely.

Today, we’re heading to Togo, and we’re looking forward to meeting the amazing volunteers who will be joining us there.

To our volunteers, bonjour! 👋🏾

We can’t wait to put faces to names, share a few stories, learn from one another and, of course, create some new memories along the way.

Alumni in Uganda, you’re next on the list. Start getting ready.

And if you would like to volunteer, kindly indicate your interest using the button below.

Volunteer for Uganda

From $10 a Month to a Regional Ambition

Let’s talk about Adama Bologo.

Before any funding or mentorship, he was in Ouagadougou running Bologo Tunique alone, one machine, basic equipment, and a business bringing in about $10 a month. Not $10,000. Ten dollars.

But here’s what he had that no spreadsheet could capture: a real point of view. He believed African fabrics, bogolan and handwoven cotton didn’t need to stay frozen in the past to matter. They could sit on a modern shirt, a reimagined tunic, a ceremonial piece redesigned for right now.

Heritage and modernity, sharing one garment.

In 2019, the Tony Elumelu Foundation backed that belief with $5,000 in seed capital, business training and mentorship. Adama didn’t just bank it. He put it straight into the business: industrial sewing equipment, cutting tables, better fabric. He brought on two apprentices, young people learning tailoring hands-on, not just watching from the sidelines.

The result? Revenue went from $10 a month to $500. His team grew from one person to four.

Now he’s not stopping at Burkina Faso. Mali, Côte d’Ivoire and Benin are next.

Here’s the real lesson: Adama didn’t wait until the business “looked ready” to take it seriously. He took the belief he already had and matched it with structure, tools and training. That’s the difference between a side hustle and a business that scales.

Follow Bologo Tunique: [Social media handles]

Sustainability for Businesses

We had Jumoke Okewole, Manager, Strategy and Business Design Consulting at Deloitte Nigeria facilitate a masterclass session on “Sustainability for Businesses”. From her knowledge and years of experience, she was able to give insights into how to…

Now, back to the question we opened with: how do you build a business that lasts? Last week’s masterclass tackled it directly.

Did you miss the session or would like a recap? You can watch it on YouTube.

Watch the session on YouTube

Learn Something This Week

Before you jump into the masterclass below, sit with these for a second:

“Entrepreneurship, support for small and medium sized enterprises, in my viewpoint, is one of the ways we can address poverty in a fundamental way.”

— Tony Elumelu

“You must realise that leadership, to a large extent, is not bestowed; it is not handed over to you. You must prepare yourself for leadership, and it will come to you.”

— Tony Elumelu

Keep Your Details Updated

From entrepreneur stories to community opportunities, there’s always something happening across the TEF ecosystem. Keep an eye on your inbox and TEF’s social channels so you don’t miss what’s next.

Changed your business name, address or industry?
Paused the business altogether?
Don’t leave us guessing.

Update your details

Got something to say about these newsletters? We’re actually listening.

Give us your feedback

Stay connected with TEFConnect on Instagram, X, LinkedIn and Facebook.

The post Alumni Weekly Newsletter – September 21, 2026 appeared first on The Tony Elumelu Foundation.

Fashion can preserve history without being confined to the past.

Across Africa, designers are drawing on traditional fabrics, silhouettes and craftsmanship while creating clothing designed for contemporary consumers. For Adama Bologo, that balance is at the heart of his work.

From his base in Ouagadougou, Burkina Faso, Adama has built Bologo Tunique, a fashion brand creating bespoke tunics, contemporary shirts, ceremonial attire and reimagined traditional garments.

The brand draws inspiration from African craftsmanship and fabrics including bogolan, handwoven cotton and linen, while giving traditional influences a distinctly modern expression.

For Adama, fashion is therefore more than a commercial product.

It is a way to carry culture forward.

Adama Bologo sees fashion as a language of identity

Clothing has always communicated something about the person wearing it.

In African societies, traditional garments and textiles can carry associations with community, history, occasion and status. Patterns, fabrics and silhouettes can communicate identity without a single word being spoken.

Adama Bologo’s approach starts from this cultural significance but looks towards the present.

He founded Bologo Tunique with the ambition of creating clothing that allows customers to engage with African heritage while dressing for contemporary life.

The brand’s collections include bespoke garments for men and women, ceremonial pieces, modern and classic shirts, reimagined traditional suits and themed collections.

Among its distinctive creations is Dynastie Guerrière, a collection that explores African heritage through a contemporary fashion lens.

The objective is not to reproduce tradition exactly as it was.

It is to reinterpret it.

Bologo Tunique is building a fashion brand around African craftsmanship

At the centre of Bologo Tunique’s aesthetic is an appreciation for African materials and craftsmanship.

The brand incorporates fabrics such as bogolan, alongside handwoven cotton and linen, into contemporary garments.

That choice gives the clothing a connection to African textile traditions while allowing Adama to experiment with modern cuts, styling and presentation.

The result is a fashion proposition built around two ideas that are sometimes treated as opposites: heritage and modernity.

For Bologo Tunique, they can coexist.

Traditional inspiration can inform contemporary design.

Cultural identity can become part of a modern brand.

And craftsmanship can become a commercial skill that creates livelihoods.

That final point is particularly important to Adama’s entrepreneurial journey.

From US$10 a month to a growing fashion business

The scale of Adama Bologo’s ambition becomes clearer when measured against where Bologo Tunique began.

Before joining the Tony Elumelu Foundation Entrepreneurship Programme, Adama operated the business alone with basic equipment.

Monthly revenue was approximately US$10.

Limited resources restricted production capacity, consistency and the number of customers the business could serve.

Yet the small operation contained the foundations of a larger fashion enterprise: a clear creative identity, a commitment to African craftsmanship and an ambition to reach audiences beyond Ouagadougou.

Adama’s challenge was turning those foundations into a business capable of producing consistently and competing for a wider market.

That required investment.

It also required business knowledge.

The Tony Elumelu Foundation helped Adama Bologo build capacity

In 2019, Adama Bologo participated in the Tony Elumelu Foundation Entrepreneurship Programme, receiving US$5,000 in seed capital, business training, mentorship and access to the Foundation’s pan-African entrepreneurial network.

The funding allowed him to invest directly in the productive capacity of Bologo Tunique.

He purchased industrial sewing equipment, cutting tables and premium fabrics, strengthening the infrastructure required to produce garments at a higher standard and greater volume.

Adama also recruited two apprentices, creating an opportunity for young people to develop practical tailoring skills through hands-on training.

The programme’s business training complemented that investment.

Adama strengthened his financial planning, business management and strategic approach to growing the brand.

The results were measurable.

Monthly revenue increased from approximately US$10 to US$500, while the team grew from one employee to four.

For a small fashion business, that shift represents more than increased sales.

It represents increased capacity to create.

Adama Bologo is turning craftsmanship into opportunity

Fashion businesses are often judged by their finished garments.

But behind every garment is a chain of skills.

Designers need tailors. Tailors need technical expertise. Apprentices need opportunities to learn. Businesses need people who understand cutting, sewing, finishing, styling and production.

That makes fashion an important part of the wider creative economy.

Through Bologo Tunique, Adama Bologo is creating opportunities for young people to develop practical skills while building a commercial enterprise around African design.

The two apprentices recruited as the business expanded are part of that story.

Rather than treating craftsmanship as something that exists only as cultural heritage, Adama is using it as a pathway to professional development and employment.

The value of the work is therefore found not only in what customers wear, but also in the capabilities being built behind the brand.

Taking African fashion beyond Ouagadougou

A strong fashion brand needs more than good garments.

It needs an audience.

Adama has worked to expand Bologo Tunique’s visibility through professional photography, social media, collaborations with stylists and engagement with members of the African diaspora.

The brand has also used cultural events, fashion showcases and regional exhibitions to introduce its work to wider audiences.

The launch of Dynastie Guerrière became one of the brand’s notable moments, attracting attention during a fashion showcase featuring Burkinabè designers.

These efforts point to an important shift in how African fashion brands can grow.

The customer base does not have to be limited by the location of the workshop.

Digital platforms can make collections visible to audiences elsewhere, while exhibitions and cultural events can create physical connections between designers and new markets.

For Bologo Tunique, this creates a pathway from a local fashion business towards a regional brand.

Why Adama Bologo’s work matters

Africa’s fashion industry sits at an interesting intersection of culture and commerce.

The continent has deep textile traditions, distinctive aesthetics and generations of craftsmanship. At the same time, a younger and increasingly connected consumer base is reshaping how African fashion is designed, marketed and consumed.

Entrepreneurs such as Adama Bologo are operating within that transition.

His work shows that cultural heritage does not have to be preserved by leaving it unchanged.

It can also be preserved through reinterpretation.

A traditional textile can become part of a modern silhouette.

A ceremonial garment can influence contemporary design.

A tailoring skill can become a source of employment.

And a local fashion label can aspire to compete beyond its home market.

That is where the commercial and cultural dimensions of Bologo Tunique meet.

Building a Burkinabè brand with a regional ambition

Adama’s next ambition is to take Bologo Tunique beyond Burkina Faso.

He plans to expand into Mali, Côte d’Ivoire and Benin, building a wider West African customer base for the brand.

Regional expansion will bring new challenges, from production and distribution to branding and customer acquisition.

But West Africa also offers a natural environment for a fashion business rooted in shared cultural influences while maintaining a distinct Burkinabè identity.

For Bologo Tunique, the opportunity is to demonstrate that a brand can be locally grounded and regionally ambitious at the same time.

The clothes can carry the story of where they come from while speaking to customers across borders.

The future of African fashion will not be defined solely by international recognition.

It will also depend on the strength of the businesses, skills and creative ecosystems being built across the continent.

Adama Bologo is contributing to that ecosystem from Ouagadougou.

Through Bologo Tunique, he is building a business where African fabrics meet contemporary design, where craftsmanship creates employment and where cultural identity becomes part of a modern commercial proposition.

The journey from US$10 to US$500 in monthly revenue shows what can happen when creative ambition is matched with investment in equipment, skills and business management.

His next challenge is scale.

If Bologo Tunique can successfully take its aesthetic and craftsmanship into new West African markets, Adama will be doing more than expanding a fashion label.

He will be showing how a designer can take something deeply rooted in African heritage and give it a place in the future.

For Adama Bologo, the goal is not simply to preserve African fashion. It is to keep evolving it.

The post Adama Bologo: Redefining African Fashion Through Heritage appeared first on The Tony Elumelu Foundation.

Philanthropy is changing. 

Across the world, organisations working to advance the public good are confronting a rapidly shifting landscape shaped by technological disruption, climate change, economic inequality and changing social realities. For philanthropic institutions, the question is no longer simply how to respond to these challenges, but how to rethink the models, partnerships and instruments through which lasting impact can be created. 

It was against this backdrop that leaders from across the philanthropic sector gathered in São Paulo on 27 August for the Brazilian Philanthropy Forum 2026, convened under the theme “Philanthropy: Between Essence and Reinvention.” 

Representing the Tony Elumelu Foundation (TEF), CEO Somachi Chris-Asoluka brought an African perspective to the conversation, sharing lessons from the Tony Elumelu Foundation’s work supporting entrepreneurs across the continent and making the case for a more inclusive, locally rooted, and partnership-driven approach to development. 

For Somachi, reinvention must not mean losing sight of philanthropy’s fundamental purpose. 

It must mean finding better ways to advance it. 

Shift from philanthropy to agency 

Speaking during a panel discussion at the Forum, Somachi reflected on the origins of the Tony Elumelu Foundation and the philosophy of Africapitalism, a word coined by our Founder, Tony O. Elumelu, CFR. 

Established in 2010, the Tony Elumelu Foundation was built around a clear conviction: African entrepreneurs can and must play a leading role in transforming the continent. 

That conviction is rooted in our founder’s philosophy of Africapitalism: the belief that the private sector has a critical role in Africa’s development by investing in strategic sectors not only for profit, but for shared prosperity.  

The philosophy challenges the traditional separation between commercial success and social impact. 

Businesses can generate returns for shareholders while creating opportunities for employees, communities and wider economies. Philanthropic capital, similarly, can do more than address immediate needs; it can help unlock the potential of individuals who can go on to create value for others. 

This philosophy sits at the heart of TEF’s approach to entrepreneurship. 

“We believe that the transformation of the African continent will not come from the private sector, the corporate, government, and it will not come from international development agencies, but it will come from our entrepreneurs,” Somachi Chris-Asoluka 

Africa is the world’s youngest continent, with a median age of 17. For its rapidly growing young population, the need for economic opportunity is immediate. 

“These young people need economic opportunities. They need jobs, and they cannot wait for these jobs to come,” she said. 

The implication is clear: Africa’s young people cannot simply be positioned as beneficiaries of development. They must be recognised as builders of it. 

Investing in entrepreneurs, investing in economies 

Since 2015, the Tony Elumelu Foundation Entrepreneurship Programme has sought to turn this philosophy into action by providing entrepreneurs with the combination of capital, knowledge, mentorship and networks required to build sustainable businesses. 

The scale of the intervention is significant. 

Through its programmes, the Foundation has trained 2.5 million young Africans, funded 27,000 entrepreneurs with more than US$130 million in direct funding, and supported businesses that have collectively created 1.5 million jobs and generated more than US$4 billion in revenue. 

For TEF, these figures represent more than programme outputs. 

They demonstrate what can happen when philanthropic capital is deployed to unlock entrepreneurial agency. 

“This is revenue that did not exist before we intervened in these young people,” she said. 

The point speaks directly to the Forum’s central conversation about reinvention. 

The question is not only how much capital philanthropy deploys, but what that capital makes possible after it is deployed. 

When an entrepreneur receives funding, develops a business, employs people, and generates revenue, the impact can extend far beyond the original intervention. Capital begins to circulate through communities and economies, creating additional opportunities along the way. 

This is the catalytic potential of philanthropy: using relatively targeted interventions to unlock much broader economic and social value. 

Technology Should Widen Opportunity, Not Deepen Divides 

Our CEO Somachi Chris-Asoluka also reflected on one of the defining forces reshaping development today: technology. 

As a last-mile implementer, The Tony Elumelu Foundation works directly across all 54 African countries. This requires both a deep understanding of local realities and the ability to connect entrepreneurs across vast geographical, economic, and cultural contexts. 

Technology has become an important part of that equation. 

The Foundation developed TEFConnect, its proprietary digital platform connecting African entrepreneurs and members of the diaspora to business tools, knowledge, mentors, investors, partnerships, marketplaces and one another. 

But Somachi stressed that digital transformation must be approached with intentionality. 

“We don’t want to use technology to deepen divides that already exist, to deepen inequalities that already exist,” she said. “We want to make sure that we’re using technology to make opportunity more inclusive and more widespread.” 

That principle has shaped the evolution of TEFConnect. 

The platform has been designed to accommodate entrepreneurs living with disabilities, who represent 15% of TEF’s entrepreneurs, ensuring that accessibility is embedded into the digital experience rather than treated as an afterthought. 

The Foundation has also adapted the platform in response to the experiences of women entrepreneurs. 

When TEF first launched its entrepreneurship programme, applications were initially being completed by young men and women in roughly equal numbers. Yet while 70 per cent of male applicants completed their applications, fewer than 30 per cent of women did. 

The disparity prompted a closer examination of the barriers women were facing. 

The answer was not simply to encourage more women to participate. It was to redesign the system around their realities. 

Women entrepreneurs explained that they were balancing entrepreneurship with childcare, household responsibilities, and other demands on their time. A training platform designed primarily around conventional working hours therefore created an additional barrier. 

TEF responded by making its learning content self-paced, enabling entrepreneurs to access training around their lives rather than requiring their lives to conform to the platform. 

It is a small but powerful illustration of human-centred thinking in development: sometimes the barrier is not a lack of ambition or willingness to participate, but a system that has been designed without sufficiently understanding the people it is meant to serve. 

The same principle applies to entrepreneurs in rural and underserved communities. 

Where digital penetration and affordability remain challenges, technology must not become another mechanism for exclusion. TEFConnect has therefore been designed to be low-data and accessible, helping entrepreneurs in remote communities participate in the digital economy. 

Scale Should Not Come At The Expense Of Context 

Operating across 54 countries presents another challenge: how can an organisation achieve continental scale while remaining responsive to local realities? 

There is no single African entrepreneurial experience. 

Markets differ. Regulations differ. Infrastructure differs. Languages, cultures and economic conditions differ. 

Yet the need for opportunity is remarkably universal. 

“African entrepreneurs are no different from the entrepreneurs here in Brazil and in Latin America,” Somachi observed. “All entrepreneurs need the same things.” 

They need funding. 

They need people willing to believe in them. 

They need opportunities to demonstrate what they can do. 

And they need ecosystems that allow their businesses to grow. 

This creates an important distinction between standardisation and scale. 

Scale does not necessarily require every entrepreneur, community or country to receive the same intervention in exactly the same way. Rather, it can mean creating systems and infrastructure that are sufficiently strong to operate at scale while remaining adaptable enough to respond to local realities. 

For organisations working across different contexts, flexibility becomes essential. 

As Somachi later noted, organisations should remain committed to their missions while being willing to adapt how they pursue them. 

“What I think is important is that you should be flexible, you should be adaptable,” she said. “I don’t think that it’s as important as how you get there, as long as the results are identical to what you want to see for your community.” 

The principle is particularly relevant to philanthropy, where complex social problems rarely have neat or linear solutions. 

Impact Must Be Built Into The DNA 

Somachi also offered a practical message for smaller organisations working to create change. 

Impact measurement and communication should not be treated as something reserved for organisations that have already achieved scale. 

“Impact should be in the DNA of the organisation,” she said. “Everything that you do, you should create the data, create the records, and create the visibility platforms to show the world the impact that you’re creating in your own small corner.” 

The advice speaks to an increasingly important reality within the philanthropic sector. 

Impact is not only about what an organisation achieves. It is also about its ability to understand, demonstrate and communicate that achievement. 

Building these systems from the beginning enables organisations to learn from their work, strengthen accountability and make a stronger case for future investment and partnerships. 

But Somachi paired this emphasis on evidence with another principle: humility. 

Organisations must continue to learn. 

“Never be satisfied or complacent with what you know,” she urged, encouraging smaller organisations to remain open to other experiences, perspectives and approaches. 

Expertise in a particular community or terrain is valuable. But it becomes even more powerful when combined with the willingness to listen, adapt and learn from others. 

Africa is open for partnership 

As the Forum explored the balance between philanthropy’s enduring purpose and the need for reinvention, Somachi’s message offered a distinctly African proposition. 

Africa does not need to be viewed solely through the lens of its challenges. 

It is a continent of young people, entrepreneurs, markets, ideas and possibilities — and its development will increasingly be shaped by Africans themselves. 

“Africa is the future for the world,” Somachi said. “And we’re open for business, open for partnerships, open for investment, open for dialogue.” 

That openness extends beyond the continent. 

The future she envisages is one in which Africa and Latin America, alongside other regions of the Global South, can build stronger relationships, exchange knowledge and create new pathways for shared prosperity. 

It is also a future in which philanthropy is not defined solely by the act of giving, but by its ability to catalyse agency, unlock potential and build systems that allow people to create lasting value for themselves and their communities. 

That may ultimately be what reinvention means. 

The essence remains the same: advancing the public good. 

But the tools, partnerships and people at the centre of that work are evolving. 

And as Somachi reflected at the Brazilian Philanthropy Forum, the opportunity is not to build that future in isolation. 

“We can achieve much more by coming together than doing it in isolation.” 

For the Tony Elumelu Foundation, that means continuing to invest in Africa’s entrepreneurs while building bridges with partners and institutions around the world. 

Because the future of philanthropy may be global. 

But the solutions will be stronger when they are locally rooted, entrepreneur-led and built together. 

 Watch her session here : https://youtu.be/7-jZzq4G9DM?si=8cno8HUQZ-ufCcy9

The post Rethinking Philanthropy: TEF CEO, Somachi Chris-Asoluka Calls for Greater Global South Collaboration at Brazilian Philanthropy Forum appeared first on The Tony Elumelu Foundation.