l-r: Oge Elumelu, daughter of Founder and Co-Founder, Tony Elumelu Foundation; Tony O. Elumelu, CFR, Founder, Tony Elumelu Foundation; Dr Awele V. Elumelu, OFR, Co-Founder, Tony Elumelu Foundation

• Over 27,000 Africans empowered by TEF Entrepreneurship Programme
• 51% Women in 2026 Cohort, Signalling Rise of Female-Led Enterprises
• $16 Million to Be Deployed through TEF Entrepreneurship Programmes in 2026 to Fund African Entrepreneurs

Abuja, Nigeria – March 22, 2026 – The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy empowering entrepreneurs, has announced 3,200 young African entrepreneurs across all 54 African countries for the 2026 cycle of the TEF Entrepreneurship Programmes; driving poverty alleviation, catalysing job creation, and ensuring inclusive economic empowerment.

With this latest announcement, TEF has now funded, trained and mentored over 27,000 African entrepreneurs, reinforcing its position as the largest private-sector driver of entrepreneurship in Africa. This underpins TEF’s stance on Africapitalism; Tony Elumelu’s economic belief that African entrepreneurs are the key drivers of the continent’s socio-economic transformation.

The 2026 cohort reflects the diversity, ambition, and resilience of Africa’s entrepreneurial ecosystem, with 51% women, 75% aged 18–35, reinforcing youth-driven economic transformation, 30% from rural communities, expanding access beyond urban centres, and 13 selected entrepreneurs reported to be thriving with disabilities. The 2026 Tony Elumelu Entrepreneurs’ businesses span sectors including agriculture, AI, green economy, healthcare, and fintech. Crucially, 91% of selected entrepreneurs are at idea or early-stage, underscoring TEF’s role as a true last-mile enabler of opportunity.

l-r: Somachi Chris-Asoluka, CEO, Tony Elumelu Foundation; Tony O. Elumelu, CFR, Founder, Tony Elumelu Foundation; Dr Awele V. Elumelu, OFR, Co-Founder, Tony Elumelu Foundation

In 2026, the Tony Elumelu Foundation will empower:

• 1,751 entrepreneurs via Heirs Holdings Group companies – 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
• 100 entrepreneurs in partnership with UNDP and the Rwandan Ministry of Youth and Arts

The announcement, held at the Transcorp Hilton, Abuja and broadcast globally, marks the 2026 cycle of the TEF Entrepreneurship Programme, with entrepreneurs selected from over 265,000 applications, one of the largest entrepreneurial selections on the continent.

The 2026 applications successfully submitted on TEFConnect, TEF’s proprietary digital platform, were subject to TEF’s rigorous and highly competitive selection process, where applicants were assessed on their demonstrated financial understanding and entrepreneurial mindset, as well as the feasibility, demand and scalability of their business ideas. This year’s cohort reflects the depth of entrepreneurial talent across the continent, with strong representation across key sectors including agriculture, artificial intelligence, healthcare, and the green economy.

The selection process was conducted by Ernst & Young, to ensure independent assessment.

Each selected Tony Elumelu Entrepreneur will receive $5,000 non-refundable seed capital, a world-class business training on TEFConnect, one-on-one mentorship, and access to global networks and investment opportunities.

A cross-section of Tony Elumelu Foundation (TEF) Alumni  pictured with (from center-left) Somachi Chris-Asoluka, CEO, Tony Elumelu Foundation; Oge Elumelu, daughter of Founder and Co-Founder, Tony Elumelu Foundation; Tony O. Elumelu, CFR, Founder, Tony Elumelu Foundation; and Dr Awele V. Elumelu, OFR, Co-Founder, Tony Elumelu Foundation

Speaking at the announcement, Tony O. Elumelu, C.F.R., Founder of TEF and Group Chairman of Heirs Holdings said, “What we do is about democratising luck and spreading prosperity, because everyone deserves the opportunity to succeed. I believe that no one but us will develop Africa. I also believe that the future of our continent is in the hands of our youth. What we do at the Tony Elumelu Foundation is not because we have so much to spread, but because we see it as self-enlightened interest

to make sure that everyone is given the opportunity to succeed. Because poverty, anywhere, is a threat to all of us everywhere. So the more prosperity we spread and we share, the more young Africans will mobilise, realising that one person alone cannot change Africa.

To our 2026 Tony Elumelu Foundation beneficiaries, I say congratulations. Your success will make the difference.”

Dr. Awele Elumelu, OFR, TEF Co-Founder, emphasised the scale of unmet demand, “I want to again continue to encourage those who have not been selected this year. Don’t give up. There is still hope.

We received over 265,000 applications, yet only 3,200 could be selected. This is why we continue to call on partners to join us. The future of Africa is indeed in the hands of these young entrepreneurs.”

l-r: Somachi Chris-Asoluka, CEO, Tony Elumelu Foundation; Oge Elumelu, daughter of Founder and Co-Founder, Tony Elumelu Foundation; Tony O. Elumelu, CFR, Founder, Tony Elumelu Foundation; Dr Awele V. Elumelu, OFR, Co-Founder, Tony Elumelu Foundation

Somachi Chris-Asoluka, TEF CEO added, “We received over 265,000 applications from across the entire continent. 265,000 individuals who have chosen not to wait, but who have chosen to create. Today, we are celebrating all African entrepreneurs. We are celebrating the African entrepreneurial spirit, a spirit of resilience, hard work, capacity, and immense talent.  Under Mr. Elumelu’s visionary leadership and strategic guidance, we are empowered and committed in making sacrifices to ensure that our young African entrepreneurs help us eradicate poverty, ensure inclusive economic empowerment, and create the millions of jobs that our continent so desperately deserves.”

Oge Elumelu, daughter of the Founder and co-Founder of TEF reflected on the Tony Elumelu Foundation’s journey, “Being able to witness the unravelling of this year’s selection process is truly exciting. And having been in attendance from the first TEF Forum, which was in 2015, to seeing where it is now is truly just incredible. And so I am really honoured to be here. And well done and congratulations to the 2026 cohort.”

Since its inception, the Tony Elumelu Foundation has:

• Disbursed over $100 million in seed capital
• Empowered 27,000+ entrepreneurs
• Generated $4.2 billion in revenue
• Created 1.5 million jobs
• Lifted 2.1 million Africans out of poverty

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: moyo.awotile@tonyelumelufoundation.org

Partner, TEF Alumni and TEF Mentor Testimonials at the Ceremony

“Our partnership with the Tony Elumelu Foundation speaks volumes. Together, we are intentionally empowering young entrepreneurs, especially women, and supporting them to grow sustainable businesses that transform lives. There is nothing more transformative than enabling young African entrepreneurs to become economic drivers in their communities. What TEF is building is fundamental to Africa’s future.”

— Massimo De Luca, Head of Cooperation, EU Delegation to Nigeria
“265,000 young Africans applied this year – that alone shows the strength, ambition, and potential of this continent. What the Tony Elumelu Foundation has created is not just a legacy, it is a live wire that will continue to power Africa’s future through entrepreneurship and job creation.”

— Nadi Albino, Deputy Director UNICEF Gen-U

“We are proud to partner with the Tony Elumelu Foundation in creating hope at scale. This is how we address Africa’s biggest challenges, by empowering people to build and thrive. Our commitment is growing because we have seen the impact. When you empower entrepreneurs, you unlock opportunity, stability, and prosperity across entire regions.”

— Dr Owen Omogiafo OON, President/GCEO Transcorp Group

“Our partnership with the Tony Elumelu Foundation enables us to empower youth at scale, expanding opportunity and prosperity far beyond our core operations. Through this partnership, we continue to transform lives across Africa, and we are proud to deepen our commitment to supporting entrepreneurs and communities.”

 — Osa Igiehon, CEO, Heirs Energies

“We are proud to be associated with the Tony Elumelu Foundation. The impact being generated is creating a powerful multiplier effect across Africa. Our partnership is rooted in purpose, to drive prosperity, support entrepreneurs, and ensure their success stories continue to grow across the continent.”

— Peter Ashade, Group CEO, United Capital Group

“The world doesn’t reward ideas. It does reward execution and ultimately results. Seeing thousands of entrepreneurs empowered by the Tony Elumelu Foundation is a powerful testament to the momentum of African enterprise. I am proud to be part of a mission that is investing in people, because Africa’s growth depends on it.”

— Najim Abdulrazaq, TEF Mentor

“The Tony Elumelu Foundation aligns with my core belief, that Africa’s progress will be driven by entrepreneurs solving real problems. I have seen firsthand how the Tony Elumelu Foundation equips entrepreneurs with the skills, confidence, and capital to build sustainable businesses.”

— Adaeze Charlyn Udom, TEF Mentor

Thanks to the funding from the Tony Elumelu Foundation, we’ve generated a turnover of $154,000, created 13 jobs, and trained 280 young entrepreneurs.”

— Haruna Diop, Malian 2021 Tony Elumelu Foundation Alumni 

“Thanks to the support from the Tony Elumelu Foundation, I was able to manage my project and spread a positive environmental impact. We also created job opportunities and helped more than 30 people.”
— Sabrina Berrehal, Algerian 2024 Tony Elumelu Foundation Alumni

“We have generated revenue of over $500,000 and created employment in farming for 12,000 farmer agents and aggregators. Our farmers, who previously earned $2 per day, now earn $4.50 per day.”

— Aisha Langat, Kenyan 2024 Tony Elumelu Foundation Alumni

“Thanks to funding from the Tony Elumelu Foundation, we were able to increase our impact by supporting more than 15 SMEs, including 5 in the clean energy sector and 5 in bioenergy. Our company has generated $160,000 in revenue and created more than 13 jobs. We are supporting clean cooking in our community, helping reduce CO₂ emissions, combating deforestation, and promoting sustainable development.”

— Prince Hangi, Congolese 2023 Tony Elumelu Foundation Alumni

“With the US $5,000 investment from the Tony Elumelu Foundation we have been able to impact over 20,000 people and that includes households and institutions such as your schools, clinics etc. We have also been able to raise US $30,000 more in funding in South Africa. We are really grateful to the Tony Elumelu Foundation for the opportunity. Thank you for making a conducive environment for economic growth.”

— Kemiso Motholo, South African 2024 Tony Elumelu Foundation Alumni

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• New TEF Board members are: H.E. Badr Jafar, leading businessman and social entrepreneur from the United Arab Emirates; Per Heggenes, with about a two-decade track record in the humanitarian and development sectors, and grant-making philanthropy, who served as the first CEO of the IKEA Foundation from Norway; and Professor Paul Gompers, the Eugene Holman Professor of Business Administration at the Harvard Business School, from the United States of America.
• The Tony Elumelu Foundation is the leading philanthropy committed to catalysing youth entrepreneurship across Africa, disbursing over USD$100m to over 24,000 young African entrepreneurs, who have collectively created over 1.5 million jobs, generated over US$4.2 billion in revenue and lifted more than 2.1 million Africans from poverty.
• Appointments represent the Tony Elumelu Foundation’s belief in strategic philanthropy built on global partnerships and best practice

Lagos, Nigeria – February 17, 2026 – The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy empowering young entrepreneurs to create sustainable jobs and drive economic transformation, today announced the appointment of three distinguished new members to its Advisory Board. These strategic additions enhance TEF’s global reach and expertise in fostering Africapitalism, youth entrepreneurship, and inclusive growth across all 54 African countries.

The new members:

• Professor Paul Gompers, Harvard Business School – a preeminent scholar of venture capital and entrepreneurship.
• Per Heggenes, former CEO of the IKEA Foundation, with about a two-decade track record in global grant-making and sustainable development.
• His Excellency Badr Jafar, CEO of Crescent Enterprises and Special Envoy for Business and Philanthropy for the United Arab Emirates.

They join existing Advisory Board member, Fatou Assah, Executive Director (Alt) at the International Monetary Fund, from the Central African Republic.

Commenting, Tony O. Elumelu, Founder of the Tony Elumelu Foundation, said:

"Entrepreneurship is the most powerful engine for Africa’s long-term prosperity.

We welcome H.E. Badr Jafar, Per Heggenes and Professor Paul Gompers to our Advisory Board.

Badr’s experience in championing innovative solutions and strategic philanthropy will be instrumental, as we scale our mission and bridge Africa with global partners who share our commitment to economic inclusion. Per’s career experience will be invaluable as we continue to scale our impact and strengthen institutional capacity in support of African entrepreneurs. Professor Gompers’ long-standing academic engagement with the Tony Elumelu Foundation, including his Harvard Business School case study on TEF’s work, reflects the growing global recognition of entrepreneurship as Africa’s most powerful development catalyst.”

The appointments reflect the Foundation’s ability to convene global voices and champion African solutions. TEF has partnered with the European Union, the Ikea Foundation, Google, the UAE Office of Development Affairs (ODA), the Khalifa Bin Zayed Al Nahyan Foundation, the Organisation of African, Caribbean and Pacific States (OACPS), the French Development Agency (AFD), the German Development Finance Institution (DEG), the German Agency for International Cooperation (GIZ), and more, running bespoke entrepreneurship programmes including targeting female empowerment and growth in fragile states.

Commenting on his appointment, H.E. Badr Jafar said: “It is a privilege to support the Tony Elumelu Foundation’s work, at a time when Africa’s entrepreneurial energy is reshaping the future. The UAE has emerged as a global platform for innovation and cross-sector collaboration, and I look forward to helping build bridges between regions, sectors, and generations to drive sustainable impact at scale.”

Commenting on his appointment, Per Heggenes said:
“The Tony Elumelu Foundation has built one of the most ambitious and impactful entrepreneurship platforms in the world. I am pleased to join the Advisory Board at a time when Africa’s young entrepreneurs are increasingly central to solving global challenges. I look forward to supporting the Tony Elumelu Foundation’s mission to strengthen entrepreneurship as a pathway to economic independence, resilience, and inclusive growth.”

Commenting on his appointment, Professor Paul Gompers stated:
“Entrepreneurship is a critical driver of innovation, job creation, and economic transformation. The Tony Elumelu Foundation has demonstrated what is possible when capital, training, and long-term commitment are aligned. I am delighted to join the Advisory Board and contribute to the Tony Elumelu Foundation’s efforts to deepen Africa’s entrepreneurial ecosystems and expand opportunity at scale.”

To learn more about the Tony Elumelu Foundation’s impact, please read the latest TEF Annual Report et Impact Report and explore how Tony Elumelu Entrepreneurs are transforming Africa.

The Tony Elumelu Foundation is currently accepting applications for its 2026 TEF Entrepreneurship Programme via www.TEFConnect.com till March 1, 2026, focusing on supporting early-stage businesses and fostering innovation across Africa.  

About the new Advisory Board Members 

H.E. Badr Jafar

H.E. Badr Jafar is the CEO of Crescent Enterprises, a diversified business operating across nine industry sectors in 15 countries. He also serves as Chairman of Gulftainer, the largest privately-owned container port operator in the world. Badr is actively engaged with organisations and initiatives focused on humanitarian aid and international development, strategic philanthropy, corporate governance, entrepreneurship, education and the arts. Consistent with his interest in promoting social entrepreneurship in the MENA Region, Badr co-founded the Arab World Social Entrepreneurship Program (ASEP).

Per Heggenes

Per Heggenes brings nearly two decades of global leadership across strategic philanthropy, international development, and corporate affairs. As the first CEO of the IKEA Foundation from 2009, he led the organisation’s evolution into one of the world’s leading strategic philanthropies, overseeing funding and innovation strategies supporting programmes in more than 45 countries. Under his leadership, the Ikea Foundation partnered with the Tony Elumelu Foundation and UNICEF’s Generation Unlimited, to launch the BeGreen Entrepreneurship Programme, empowering hundreds of young green African entrepreneurs with critical green training, funding, and technical assistance in launching green businesses across the African continent.

Professor Paul Gompers

Professor Paul Gompers is one of the world’s leading scholars on entrepreneurship, venture capital, and high-growth companies. He is Professor of Business Administration at Harvard Business School, with appointments in both Finance and Entrepreneurial Management. In 2024, Professor Gompers and his Harvard Business School research team launched a case study on the Tony Elumelu Foundation titled “The Tony Elumelu Foundation: Democratising Luck Across Africa”. The case study examines TEF’s distinctive philanthropy model and documents how the Tony Elumelu Foundation has empowered thousands of African entrepreneurs with more than US$100 million in direct funding, alongside training, mentorship, and ecosystem development.

À propos de la Fondation Tony Elumelu

The Tony Elumelu Foundation (TEF) is the leading philanthropy committed to catalysing youth entrepreneurship across Africa.

The Tony Elumelu Foundation is empowering a new generation of African entrepreneurs, driving poverty eradication, catalysing job creation across all 54 African countries, and ensuring inclusive economic empowerment. The Foundation’s mission is rooted in Africapitalism, which positions the private sector, and most importantly, entrepreneurs, as the catalyst for the social and economic development of the African continent.

Since our launch in 2010, TEF has empowered over 2.5 million young Africans with access to business management training on our proprietary digital hub, TEFConnect, and disbursed over US$100 million in seed capital to more than 24,000 selected entrepreneurs on the TEF Entrepreneurship Programme. Collectively, these entrepreneurs have generated $4.2 billion in revenue and created more than 1.5 million direct and indirect jobs. Through our support for African entrepreneurs, TEF has lifted 2.1 million Africans above the poverty line, and positively impacted more than 4 million African households, with 46% of supported entrepreneurs being African women.

The Tony Elumelu Foundation’s mission is rooted in Africapitalism, which positions the private sector and, most importantly, entrepreneurs as the catalyst for the social and economic development of the African continent.

TEF’s ability to fund, train, mentor, and network young African entrepreneurs has created a unique platform for catalysing growth across the African continent. The robust ability of the Foundation to reach entrepreneurs across geographies and sectors has enabled it to conduct innovative partnerships with the European Union (EU), United Nations Development Programme (UNDP), the International Committee of the Red Cross (ICRC), the United States Government via the United States African Development Foundation (USADF), The Organisation of African, Caribbean and Pacific States (OACPS), The French Development Agency (AFD), The German Development Finance Institution (DEG), The German Agency for International Cooperation (GIZ), The African Development Bank (AfDB), Google, UNICEF Generation Unlimited (GenU), IKEA Foundation, the UAE Office of Development Affairs and Khalifa Bin Zayed Al Nahyan Foundation (an affiliate of Erth Zayed), and others, with bespoke programmes including targeting female empowerment and growth in fragile states.

Contact: Moyo Awotile; moyo.awotile@tonyelumelufoundation.org

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Together, they delved into how Africa’s private sector and entrepreneurs are driving sustainable, inclusive growth and reshaping global market systems from the continent’s unique perspective. 

• The global economy has faced a lot of crises in the past few decades: crises of inequality, crises of exclusion, and, of course, in recent times, environmental stress. It is against this background that we came up with this whole philosophy and concept of Africapitalism. 

• And I must say that it’s not an African adaptation of capitalism. It is a redefinition of capitalism to address the germane issues that Lady Lynn just talked about. We believe that the private sector must play a critical role in creating economic prosperity and social transformation for society, for humanity. 

• We believe that in the 21st century, capitalism must be centred on community involvement, community inclusion. We believe, to a large extent, that profit and purpose are not in rivalry. There’s no rivalry between both. 

• Profit and purpose are partners, especially in the African Renaissance, talking about capitalism in the world today. To us, getting the private sector to invest is not about charity per se, but to invest in critical sectors that help to create economic prosperity, and social transformation is what we need. 

• I think that inclusive capitalism is not about charity. It’s about value creation. It’s about inclusion. It’s about making sure that businesses don’t work for profit alone, don’t work for shareholders alone; that they work, and at the core, what they do is community. So, what we do at the Tony Elumelu Foundation, to us, to me, my wife, and, by the way, Lynn was a founding board member of the Tony Elumelu Foundation. 

• She sat on the board for 12 years. So, our interest in humanity did not start today. We thought and realized that our success is not defined by the wealth or the money we have in our bank accounts. 

• We thought we couldn’t be successful if we did not play our own role in helping to catalyze economic prosperity for all on the continent of Africa. But we realized that we can’t do it alone, and that’s why we’re not going on that journey alone. We go with people. 

• We identify young African entrepreneurs every year. We provide non-refundable capital of $5,000 between 3,000 and 5,000 young Africans every year, all across African countries every year, and that is Africapitalism. 

• That is private sector. But when we talk of private sector investment, it’s not just in fiscal infrastructure, but investing in young people is an investment that helps to catalyze more prosperity. 

• Let me start by saying that Africapitalism moves us away from extraction to creation. It moves us away from consumption to production. And it moves us from dependency to dignity. 

• I think it’s all about long-term interest: the interest of Africa is one that we have, will create local value on the continent. 

• We move away from exportation of raw materials. We create—Africa has significant youth unemployment. I call it a betrayal of the young generation in Africa that we cannot create jobs for them. 

• So, in seeking to align with powers or economies of the world, developed economies, there should be first an alignment of our long-term interest: job creation, youth empowerment, inclusivity, inclusion. Which of the global economies best offers or helps our attainment of these core objectives? To me, that would define how we align. 

• Africa needs massive investment in infrastructure to transform the continent. We talk about AI; I just came back from a conversation in Riyadh about AI, and my position is consistent. 

• Africa should not even talk about AI when access to common electricity is not available on the continent. So, we need alignment with global partners, development agencies, private sector. And for me, it’s not African private sector. 

• it’s Africa’s private sector: private sector that does business in Africa. We need to start rethinking, reimagining how we operate on the continent. 

• We need to begin to see, and that’s why I’m 100% aligned with the intersection of community shareholders, value creation, everyone being on table. 

• There’s no reason to align with people who come to the continent for the purpose of extraction of raw materials. We need that raw material processed on the continent so local value addition can be created, so that the youth unemployment that we have in Africa is addressed, so that capitalic intervention activities that help to propel and take Africa to the next level,that would define what we do or who I should be aligning with. 

Watch the session here: https://youtu.be/atxv5LuBvig?si=kmGo_A_ehkc70arO 

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This partnership was consolidated during a courtesy visit to Mr. Tony O. Elumelu, CFR, Founder of the Tony Elumelu Foundation and Chairman of Heirs Holdings and the United Bank for Africa (UBA), at the Hilton, Abuja. The Controller General, Federal Fire Service, Samuel Adeyemi Olumode, FCNA, ACTI, led a delegation of senior management officers to the high-level engagement.

During the engagement, the Service also formally investitured Mr. Peter Ashade, Group CEO, United Capital Plc, as a National Fire Safety Ambassador, in recognition of the Heirs Group’s significant contributions to enhancing safety consciousness and advancing community-focused fire safety initiatives nationwide. This honour further reinforces the expanding partnership between the Federal Fire Service and the Tony Elumelu ecosystem. As part of the collaboration, Federal Fire Service personnel will be deployed across all infrastructures under Mr. Tony Elumelu’s business portfolio nationwide, serving as safety officers to support compliance, strengthen safety monitoring, and enhance fire prevention awareness across all facilities.

Mr. Elumelu emphasised the urgent need to deepen community-level fire safety awareness, noting that thousands of households, local markets, and indigenous settlements remain vulnerable due to limited access to structured fire prevention education. He underscored that empowering citizens with practical, life-saving knowledge will significantly improve national resilience and reduce both the frequency and severity of fire outbreaks.

Under the collaboration, the Federal Fire Service will train 200 persons in each state of the federation and the FCT, totaling 7,400 beneficiaries.

The programme will focus on essential fire-prevention skills, early warning practices, and basic emergency response procedures. Participants will also be groomed to serve as fire safety advocates within their communities, creating a multiplier effect that promotes vigilance and responsible safety behaviour nationwide.

The Controller General described the partnership as a milestone in Nigeria’s journey toward a more preventive approach to fire management. He expressed profound appreciation to Mr. Elumelu and the Foundation for championing a community-centric model that aligns with global best practices. He further assured that the Service will deliver the training with professionalism, transparency, and measurable impact across all zones.

The initiative is expected to significantly strengthen grassroots preparedness, improve first-response capacity, and foster a long-term culture of fire safety within communities.

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Green Jobs, Green Profits: How Young Africans Are Turning Waste into Wealth 

Africa’s entrepreneurs are reframing one of the world’s greatest challenges into its greatest opportunity.  

Across the continent, a new generation is proving that climate solutions are not merely acts of charity or sacrifice; they are profitable ventures that generate employment, create trade opportunities, and deliver prosperity alongside sustainability. 

At the centre of this shift is BeGreen Africa, a partnership between the Tony Elumelu Foundation (TEF), the IKEA Foundation, and UNICEF’s Generation Unlimited (GenU). Designed to equip young Africans with the skills, capital, and market access to build green enterprises, it transforms climate action into an economic growth strategy. 

From Risk to Reward: Rethinking Climate Action 

Africa contributes less than 4% of global emissions, yet it bears the brunt of climate shocks: floods, droughts, desertification, and degraded soils. For years, the global narrative cast climate action as a sacrifice, a burden developing countries must shoulder to protect the planet. 

But Africa’s young entrepreneurs see things differently. To them, climate adaptation is not a cost; it is a market. It is the chance to reimagine waste as raw material, renewable energy as industry, and sustainability as a competitive edge in the global economy. 

Circular economy ventures repurpose waste into tradable goods, 

Renewable energy start-ups expand access to power while reducing emissions. 

Agri-waste innovators turn crop residue into biofuels and organic fertilisers. 

BeGreen Africa: A Green Entrepreneurship Model 

Launched in 2022, BeGreen Africa was designed to address what the United Nations (UN) and other international bodies call  

“The triple planetary crisis: climate change, biodiversity loss, and pollution. with entrepreneurship as the antidote.” 

The programme provides: 

• Specialised training in green entrepreneurship, from waste management to renewable energy. 

• Seed capital, ensuring young entrepreneurs move from concepts to viable operations. 

• Mentorship and networks, linking them with investors, markets, and peers across borders. 

Delivered through TEFConnect, TEF’s proprietary digital platform that connects over 2.5 million African entrepreneurs, BeGreen combines online learning with practical pilot programmes. It places Africa’s youth at the forefront of green transformation, equipping them not merely to survive the climate crisis, but to build industries out of it. 

Turning Waste into Wealth: Evidence on the Ground 

The early results are promising. In Kenya, entrepreneurs supported through BeGreen are converting organic waste into affordable biofertilisers, simultaneously raising crop yields and reducing harmful methane emissions.

"Before BeGreen, I saw organic waste as a challenge for my community. Today, I see it as a resource. With the training and seed capital I received, I am using Black Soldier Fly technology to turn waste into nutrient-rich frass and high-quality seedlings. This is not only reducing pollution, it is improving soil health and supporting farmers in Machakos County. BeGreen has shown me that waste is not the end of a cycle, it is the beginning of opportunity.” 

— Benard Mbula Musyoki, BeGreen Africa Beneficiary 

Across Afrcia, innovators are transforming plastic waste into construction materials, addressing both urban housing needs and pollution. These are formal businesses with clear market pathways: serving growing demand, creating jobs, and exporting sustainable solutions. 

Green Entrepreneurship as Africa’s Competitive Edge 

Africa has a unique advantage: unlike other regions, it is not locked into outdated, carbon-intensive infrastructure. It can leapfrog directly into clean technologies and circular economies. 

• Export advantage: locally produced green goods, from recycled plastics to biofuels, can meet the rising global demand for sustainable supply chains. 

• Employment creation: green ventures are inherently labour-intensive, absorbing the continent’s fast-growing youth workforce. 

• Community resilience: local access to renewable energy, clean environments, and sustainable inputs strengthens economies from the ground up. 

Here, climate action is not philanthropy. It is Africa’s competitive edge. 

A Global Blueprint 

BeGreen Africa demonstrates what happens when philanthropy, private capital, and development organisations align around entrepreneurship. Its model training, capital, mentoring, and networks for green innovation can be replicated in other emerging markets. 

For governments and development partners across South Asia or Latin America, the lesson is clear: do not wait for external aid or carbon credits to trickle down. Invest directly in entrepreneurs who are already creating solutions that blend climate and commerce. 

Green is Growth 

Africa’s young entrepreneurs are charting a new path. They are showing that green jobs are not an afterthought of climate policy; they are the main prize. By turning waste into wealth and scarcity into opportunity, they are laying the foundations for both prosperity and sustainability. 

BeGreen Africa is proof that when we invest in youth and innovation, the result is not just cleaner communities or reduced emissions. It is thriving businesses, new industries, and inclusive growth. 

The world should take note: Africa is not waiting for luck or handouts. It is building green economies that pay in profits, in jobs, and in resilience. 

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When Dr. Awele Elumelu crossed the finish line of the Berlin Marathon, her fifth completion of the gruelling 42.195 kilometre race, she claimed more than just another medal. She embodied the boundless spirit of resilience, healthful living, and ambition. A medical doctor, entrepreneur, and co-founder of The Tony Elumelu Foundation, Dr. Elumelu doesn’t just run marathons; she meticulously crafts a legacy of wellness, mental balance, and determination.

Read the full article on her marathons and milestones ici.

À propos de la Fondation Tony Elumelu

The Tony Elumelu Foundation is the leading philanthropy empowering a new generation of African entrepreneurs, driving poverty eradication, catalysing job creation across all 54 African countries, and increasing women economic empowerment.

Founded in 2010, the Tony Elumelu Foundation is committed to empowering African entrepreneurs as a catalyst for the continent’s economic transformation. 

Since the launch of the TEF Entrepreneurship Programme in 2015, the Foundation has provided up to  2.5 million young Africans with access to training on its digital hub, TEFConnect, and disbursed over USD$100 million in direct funding to over 21,000 African women and men, who have collectively created over 800,000 direct and indirect jobs, and generated over USD$4.2 billion in revenue. The Foundation’s mission is rooted in Africapitalism, which positions the private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the African continent.

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Founder, The Tony Elumelu Foundation.

Chairman: Heirs Holdings Group, UBA Group, Transcorp Group.

At the 2024 Journée des anciens élèves de l'AFB.

Opening Remarks 

• Distinguished ladies and gentlemen. 

• The Lagos Business School has been a beacon of learning and thought leadership, equipping business leaders for success. A role model for business education in Nigeria, in Africa and globally. 

• I have great admiration for this institution, and I commend its leadership and my big brother Prof. Chris Ogbechie. 

• Congratulations to the new President of the LBS Alumni Association, Owen Omogiafo, the Group CEO of Transcorp Plc. 

• This gathering is yet another opportunity to engage in conversations that are relevant in today’s world. The theme of this conference “Naviguer dans les perturbations : Exploiter l'IA pour la réussite économique et commerciale» is so pertinent in these rapidly changing times. 

As business leaders, we all know that change is inevitable. But it is important how we approach change, manage change, master change. 

• I see change as an opportunity to reinvent ourselves, especially in Africa. We cannot be left behind. In this era of Artificial Intelligence, Africa must play a leading role, not as a bystander, but as an active contributor and a leader. 

• And how do we achieve this? It starts with us – all the leaders gathered here; this is our collective responsibility. This is why I am impressed by the topic and look forward to the thoughts that arise from this Forum. 

• We must ensure AI serves, not only our business goals, but also the broader good of our country and continent. I believe in Africapitalisme, that business should do good and do well.  With AI it is no different. 

• Our response to AI, will be based on the values we hold and those values that have been shown to be the foundations of success, that provide the capacity to thrive in times of enormous change. 

• Let me share the values that have helped us in Heirs Holdings achieve the phenomenal growth we have achieved in less than 15 years:  

1. Adaptability 

• As business leaders, we must have a mindset that is both forward-looking and flexible, armed with the knowledge that what is novel today may become outdated tomorrow. 

• There would always be disruptors – it is inevitable, but what makes the difference is how we position our businesses to adapt to changes. 

2. Excellence 

• Excellence is not just about meeting expectations, but surpassing them. Excellence is about setting new standards, exceeding them, and inspiring others. 

3. Commitment to Lifelong Learning 

• As leaders, this must be our predisposition. We must remain informed and open-minded, accepting that continuous learning is essential. 

In my experience, leaders who are more receptive to lifelong learning are best positioned to maximise new opportunities. This is why again I salute LBS. This is what we need in Nigeria – leaders who reinvent themselves, who drive transformation, never settle for the ordinary, and who are committed to the development of our great country.  

Conclusion 

• Today, I encourage everyone to adopt a mindset that is both curious and courageous.  

AI is a vast field, and while it might be intimidating, we must approach it with curiosity—exploring its possibilities, learning its intricacies, and seeking ways to implement it meaningfully. 

• Let us master change, rather than be mastered by it! 

• Let us embrace change, not shy away! 

• Be solution oriented. Instead of being overwhelmed by what AI might replace, think of what it might enable. 

• I encourage you to leverage the opportunities in this conference for the exchange of ideas, learning from one another, and creating a roadmap that launches our businesses, and by extension, the economy of Nigeria, forward. 

• I am confident that soon, with all our contributions and all our resilience, Africa will be the continent we know it can be. 

• Merci. 

DOIGT DE PIED 

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Comprendre l'ère de la rupture

• Nous vivons en effet à une époque perturbatrice, caractérisée par des avancées technologiques rapides, des normes sociétales changeantes et une prise de conscience accrue de nos responsabilités en matière d'environnement.
• Nous n'avons jamais connu un tel rythme de changement. Il est sans précédent et il remodèle les industries, les économies et le tissu même de notre société.
• Mais aussi difficile que cette perturbation puisse paraître, nous devons l'accueillir, non pas comme une menace, mais comme un catalyseur de l'innovation et de la croissance.
• Nous sommes tous d'accord pour dire qu'au cours des dernières décennies, des progrès ont été réalisés en ce qui concerne les femmes.
• Les femmes ne sont plus de simples participantes à la révolution technologique, mais des pionnières, des innovatrices et des chefs de file qui font évoluer les secteurs d'activité.
• Cette nouvelle ère nous offre la possibilité de pénétrer dans des espaces qui étaient auparavant inaccessibles - les plafonds de verre.
• Nous connaissons les défis, mais nous menons une vision inclusive, équitable et durable.
• Mais qu'est-ce que cela signifie vraiment lorsque nous disons que nous voulons diriger dans une ère de rupture ?
• Il s'agit d'anticiper les changements et de s'y préparer.
• Il s'agit de tirer parti des outils et des technologies à notre disposition pour non seulement survivre, mais aussi prospérer dans un monde en constante évolution.
• Il s'agit d'être agile et innovant.
• Pour les femmes, en particulier, cela signifie également qu'il faut briser les barrières traditionnelles et accéder aux fonctions de direction avec confiance et détermination.
• Cette révolution numérique a donné naissance à une nouvelle vague de technologies émergentes - de l'utilisation de l'IA pour améliorer nos processus de prise de décision et la façon dont nous analysons les données, à l'emploi de la blockchain pour une plus grande transparence dans les opérations, les possibilités sont infinies.
• Ces technologies ne se contentent pas de transformer les industries, elles remodèlent notre mode de vie, notre façon de travailler et notre façon d'interagir avec le monde qui nous entoure.
• Il est essentiel que nous soyons bien positionnés pour défendre leur utilisation.

Embrasser la diversité, l'équité et l'inclusion (DEI) :

• En tant que femme africaine-nigériane, je suis très consciente des défis auxquels nous sommes confrontées, qu'il s'agisse des préjugés sexistes ou de l'accès limité aux opportunités.
• Cependant, je suis également conscient de l'immense force qui réside dans notre diversité.
• Il y a 13 ans, mon mari et moi avons créé la Fondation Tony Elumelu.
• En tant que cofondatrice de la Fondation Tony Elumelu (TEF), j'ai pu constater de visu l'impact de l'équipement des femmes.
• La Fondation s'est engagée à soutenir les jeunes entrepreneurs africains de tous les pays d'Afrique - hommes et femmes - et à leur donner les moyens d'agir.
• Lorsque nous avons entamé la première série de candidatures, nous avions très peu de femmes. Moins d'un tiers d'entre elles étaient des femmes.
• Mais nous comprenons l'importance de l'autonomisation et de l'intégration des femmes et nous nous sommes donc assurés de faire tout ce qui était en notre pouvoir pour que davantage de femmes postulent et soient financées.
• La Fondation identifie les jeunes Africains qui ont des idées commerciales, les forme, les encadre et leur verse un montant non remboursable de $5 000 pour leur entreprise.
• Je suis heureuse de dire que dix ans plus tard, nous avons financé plus de 8 000 entreprises dirigées par des femmes dans les 54 pays africains.
• Cela représente un nombre impressionnant de 46% du nombre total d'entrepreneurs que nous avons financés sur notre continent.
• Nous avons constaté que lorsque l'on donne du pouvoir à une femme, on donne du pouvoir à la nation.

• Nous croyons en la capacité des femmes à multiplier, nourrir et transformer leurs nations.
• En 2021, nous nous sommes associés à Google et à Women Entrepreneurs for Africa (WE4A) pour fournir un financement exclusivement destiné aux femmes entrepreneurs, car nous sommes convaincus que nous pouvons faire plus.
• Nous savons que nous devrions en faire plus.
• Il est intéressant de noter qu'en moyenne, les femmes bénéficiaires de la Fondation ont déclaré avoir tiré un peu plus de bénéfices de leur entreprise que les hommes bénéficiaires au cours d'un mois type de l'année écoulée.
• Nous savons que les femmes apportent des perspectives, des expériences et des idées uniques.
• Au fil des ans, nous en sommes venus à considérer notre douceur et nos faiblesses perçues comme des forces.
• Nous sommes plus susceptibles d'investir nos revenus dans la santé, l'éducation et le bien-être de nos familles, ce qui permet à des communautés entières de sortir de la pauvreté.
• Il va sans dire que l'autonomisation des femmes a un effet d'entraînement qui va bien au-delà des avantages individuels.
• Lorsque les femmes s'épanouissent, elles deviennent des modèles et des agents de changement dans leurs communautés, inspirant les autres et catalysant un changement social positif.
• Prenons, par exemple, les histoires de réussite de certaines femmes entrepreneurs qui ont été habilitées par TEF, l'impact qu'elles ont eu et la technologie innovante qu'elles ont utilisée pour conduire le changement :

1. Olamide Ayeni, bénéficiaire en 2016 du programme d'entrepreneuriat du TEF, tire parti de la technologie pour innover en matière de gestion des déchets.

• Contexte : Olamide est un entrepreneur nigérian et le fondateur de Hopcyku (anciennement Pear Recycling), une entreprise qui transforme les déchets en produits de valeur et promeut la durabilité environnementale.
• Impact : Sous la direction d'Olamide, Hopcyku est devenu un pionnier de la gestion innovante des déchets, créant des produits de haute qualité à partir de déchets textiles et de caoutchouc, tout en promouvant l'éducation climatique.
• Son entreprise utilise l'IA et l'analyse prédictive pour optimiser les processus de transformation des déchets et anticiper les préférences des consommateurs, améliorant ainsi considérablement leur efficacité opérationnelle et le développement de produits.
• Innovation: En matière d'innovation, elle a démontré comment la technologie peut être utilisée pour révolutionner la gestion des déchets, en veillant à ce qu'elle soit à la fois rentable et respectueuse de l'environnement.
• Ils utilisent également des logiciels libres pour réduire les coûts tout en améliorant l'efficacité.

2. Nana Amoako-Anin - Tirer parti de la technologie pour transformer le yoga au Ghana

• Contexte : Nana Amoako-Anin, bénéficiaire en 2016 du programme d'entrepreneuriat TEF, est la fondatrice de Bliss Yoga Accra, l'un des rares studios de yoga à service complet en Afrique de l'Ouest.
• Après avoir quitté New York pour retourner au Ghana, elle a créé son entreprise pour rendre le yoga plus accessible et plus populaire au Ghana.
• Impact : Bliss Yoga Accra a contribué à populariser le yoga au Ghana, en proposant des cours collectifs et privés, des certifications de professeurs de yoga et des programmes de soulagement du stress.
• Il s'agit de l'un des rares studios africains appartenant à une femme, qui change la donne en matière d'accessibilité et d'image du yoga dans la région.
• Innovation: Nana tire parti de la technologie dans plusieurs domaines clés pour assurer la réussite de son entreprise : Elle utilise une application et une base de données personnalisées pour suivre les préférences des clients et la popularité des cours, ce qui permet de prendre des décisions fondées sur des données et de maintenir le studio à l'écoute des besoins des clients. 
• Confrontée à des restrictions liées à la pandémie, Nana a rapidement pivoté pour proposer une formation de professeur de yoga entièrement en ligne, ce qui a ouvert de nouvelles possibilités d'extension des activités et attiré une clientèle diversifiée et mondiale.

Ces exemples témoignent de ce qu'il est possible de faire lorsque l'on adopte la technologie et qu'on l'utilise comme un outil d'autonomisation et de leadership.

- Toutefois, pour que ces technologies soient réellement transformatrices, nous devons veiller à ce que leur adoption soit inclusive et qu'elles offrent aux femmes des chances égales de participer, d'innover et de diriger dans cette ère numérique.

- En tant que présidente d'Avon Healthcare et d'Avon Medical Practice, j'ai été témoin du pouvoir de transformation de ces technologies dans le secteur des soins de santé.

- Chez Avon HMO, nous sommes à la pointe de l'utilisation d'analyses de données avancées et de solutions numériques pour révolutionner la prestation de soins de santé.

- En exploitant les capacités du big data et de l'apprentissage automatique, nous pouvons obtenir des informations plus approfondies sur les besoins des patients, prédire avec précision les tendances en matière de santé et personnaliser les plans de soins de santé de manière plus efficace et efficiente.

- Le suivi de ces paramètres nous permet d'identifier les domaines à améliorer, de mettre en œuvre les meilleures pratiques et, en fin de compte, d'améliorer la qualité du service.

- Il convient également de noter que cette transformation dynamique est menée par une équipe dirigée par des femmes, sous la direction avisée de la directrice générale, Adesimbo Ukiri, et de son équipe.

- Cela souligne une fois de plus les contributions significatives des femmes.

- On ne saurait trop insister sur tous ces points.

- Si nous nous concentrons sur l'autonomisation des femmes, il est tout aussi important de reconnaître le rôle que jouent les hommes dans ce parcours.

- Les hommes doivent être des alliés dans la poursuite de l'inclusion et de l'autonomisation des femmes, en comprenant qu'une véritable équité profite à tous.

- Dans le domaine médical, les soins infirmiers ont longtemps été perçus comme une profession dominée par les femmes, et cette idée était profondément ancrée dans la vision traditionnelle des femmes en tant que soignantes.

- Toutefois, ce parti pris a commencé à changer sous l'effet de plusieurs facteurs.

- Les attitudes sociétales à l'égard des rôles de genre ont commencé à évoluer, reconnaissant que la prise en charge des personnes dépendantes n'est pas intrinsèquement féminine, mais un trait de caractère humain.

- Au fil du temps, les infirmiers sont devenus plus visibles et plus respectés, ce qui a contribué à démanteler le stéréotype selon lequel les soins infirmiers sont un "travail de femme".

- Aujourd'hui, les hommes sont de plus en plus reconnus comme des membres à part entière de la profession d'infirmier, contribuant à la diversité des perspectives et des approches en matière de soins aux patients.

- Il ne s'agit plus seulement d'un impératif moral, mais d'un avantage stratégique.

- Il s'agit de créer un environnement où chaque individu, quel que soit son sexe, peut apporter ses perspectives et ses talents uniques.

- Les équipes diversifiées sont plus innovantes, plus résistantes et mieux équipées pour relever les défis complexes que nous connaissons.

- Des études ont montré que les entreprises où la diversité des genres est la plus forte sont plus susceptibles d'obtenir de meilleurs résultats que leurs homologues.

- Mais nous devons être prêts. Nous devons être prêts à apporter notre contribution.

Conclusion

• Pour conclure, je tiens à souligner que cette ère de rupture nous offre une occasion sans précédent de prendre les devants.
• En tirant parti des technologies émergentes, en adoptant et en favorisant l'inclusion, nous sommes sur le point de surmonter les obstacles qui ont historiquement freiné les femmes et de saisir les opportunités de leadership qui s'offrent à nous.
• En tant que femmes réalisatrices, nous ne sommes pas seulement des participantes à cette transformation, nous sommes des leaders.
• Nous avons le pouvoir de façonner l'avenir, de créer des organisations qui reflètent nos valeurs et d'inspirer la prochaine génération de femmes dirigeantes.
• Je voudrais demander à chacun de rester engagé dans l'apprentissage continu.
• Nous devons toujours chercher à apprendre et à nous améliorer.
• Je trouve que se tenir au courant des technologies émergentes n'est pas seulement une nécessité professionnelle, c'est aussi une nécessité personnelle.
• En tant que mère de cinq jeunes filles, je continue à apprendre d'elles et à grandir.
• Ces filles sont très au fait des technologies numériques et parlent toujours des nouvelles tendances. Je me retrouve souvent en train d'apprendre de nouvelles choses juste pour suivre leur rythme !
• Cet apprentissage permanent n'est pas seulement vital pour rester pertinent dans nos carrières, mais aussi dans nos vies quotidiennes.
• J'encourage chacun d'entre vous à profiter de ce moment, à diriger avec courage et à user de son influence pour susciter des changements positifs.
• Ensemble, nous pouvons créer un monde où les femmes sont à la pointe de l'innovation et du changement.

Merci

Dr. Awele V. Elumelu, OFR
Président, Avon Healthcare Limited
Cabinet médical d'Avon
&
Cofondateur de la Fondation Tony Elumelu

The post Keynote Speech Delivered By Dr. Awele V. Elumelu, OFR At The 2024 Women Directors’ Conference Of The Chartered Institute Of Directors Nigeria appeared first on The Tony Elumelu Foundation.

L'intégralité de l'étude peut être consultée ici

L'évaluation utilise une méthodologie d'essai contrôlé randomisé pour comparer des candidats par ailleurs similaires qui se sont engagés dans notre programme phare et ceux qui ne l'ont pas fait. Il s'agit d'une étape importante, car la Fondation redouble d'efforts pour se concentrer sur les résultats de l'impact : en mesurant les résultats clés et en communiquant ces résultats.

L'étude est en train de suivre les résultats des entrepreneurs tels que la réussite de la création d'une entreprise, les revenus, le nombre d'employés et les ventes de l'entreprise. La Fondation attend les résultats finaux pour la fin de l'année 2024, ce qui permettra de mieux montrer comment elle s'attaque aux problèmes les plus difficiles tels que la pauvreté, le changement climatique, la fragilité et l'insécurité alimentaire. Ces résultats seront également présentés de manière à permettre à nos publics de ventiler les résultats par sexe, par jeune, par région, par pays et par d'autres paramètres.

Dans le cadre d'une seconde expérience, la Fondation Tony Elumelu a étudié l'impact des messages sur les ambitions entrepreneuriales. L'étude révèle notamment une résilience remarquable chez les entrepreneurs africains, qui sont nombreux à faire preuve d'un grand optimisme malgré les échecs initiaux.

Cliquez sur ici pour lire le rapport complet.

The post The Tony Elumelu Foundation Launches Research Study with MIT, Columbia and University of Chicago appeared first on The Tony Elumelu Foundation.

Seeing the struggles of children who couldn’t access quality education due to overcrowded public schools and unaffordable private options, Ogechi Benyeogor took action. With a Master’s degree in education and four years of teaching experience, Ogechi decided to make a difference. She established a low-cost nursery and primary school in her rural community in Asaba, Delta State.

Initially hesitant to start her own venture, Ogechi’s breakthrough came when she joined the Tony Elumelu Foundation (TEF). Through their twelve-week training and mentorship program, she gained a clearer understanding of business and felt empowered to launch Fidema’s Children Academy.

Today, Fidema’s Children Academy serves over 200 pupils and employs 15 staff members, generating $7,000 annually. This achievement supports the United Nations Sustainable Development Goal of providing accessible and affordable education for all.

Beyond education, Fidema’s Children Academy has also created job opportunities for local residents, offering them a chance to contribute to the community and use their skills to educate the next generation.

Reflecting on her journey, Ogechi shares;

“The foundation helped me discover my potential. After joining the 2016 TEF class, my path to entrepreneurship began. The seed capital allowed me to rent space and buy equipment. Since then, with support from family and business savings, I’ve acquired land and built a suitable school. Despite fierce competition, the mentorship and business education from TEF have been crucial to our success.”

Sector: Education/Training

Full Name: Ogechi Benyeogor

Business Name: Fidema’s Children Academy

Pays : Nigéria

Year of funding: 2016

Impact area: Available and affordable education services.

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