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-Asolula, 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 e Impact Report and explore how Tony Elumelu Empreendedores 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.

Sobre a Fundação 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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رأس مال تأسيسي غير قابل للاسترداد بقيمة 5,000 دولار أمريكي، وتدريب عالمي المستوى، وإرشاد لأجرأ المؤسسين في أفريقيا

أكثر من 24,000 رائد أعمال ممولين، و2.5 مليون شخص تم تدريبهم، و1.5 مليون وظيفة تم خلقها، وإيرادات بلغت 4.2 مليار دولار أمريكي منذ عام 2015

لاغوس، نيجيريا – 1 يناير 2026 – أعلنت مؤسسة توني إلوميلو (TEF) فتح باب التقديم لبرنامج TEF لريادة الأعمال لعام 2026، داعيةً روّاد الأعمال الطموحين من جميع الدول الأفريقية الـ54 إلى التقديم الآن عبر منصة TEFConnect.

يحصل المتقدمون الناجحون على رأس مال تأسيسي غير قابل للاسترداد بقيمة 5,000 دولار أمريكي، إلى جانب تدريب مكثف في مجال الأعمال، وإرشاد، ووصول مباشر إلى أكبر شبكة لريادة الأعمال في أفريقيا.

منذ عام 2015، قام البرنامج بتمويل أكثر من 24,000 رائد أعمال، وتدريب 2.5 مليون أفريقي، وخلق أكثر من 1.5 مليون وظيفة، وتوليد إيرادات تجاوزت 4.2 مليار دولار أمريكي، مما يثبت أن روّاد الأعمال الأفارقة قادرون على تحويل القارة.

كما يدفع البرنامج عجلة النمو الشامل، حيث تشكل النساء الآن 46% من روّاد أعمال TEF، وهي أعلى نسبة مشاركة نسائية يسجلها برنامج بهذا الحجم.

وفي حديثه عن إطلاق برنامج 2026، قال مؤسس مؤسسة توني إلوميلو ورئيس مجلس إدارة مجموعة Heirs Holdings، توني أو. إلوميلو، CFR:

> «أعظم أصول أفريقيا هم شعبها. أفريقيا لا تحتاج إلى مساعدات؛ أفريقيا تحتاج إلى استثمار، في البنية التحتية، وفي المؤسسات، ولكن الأهم من ذلك في شبابنا.

من خلال مؤسسة توني إلوميلو، نُظهر أنه عندما يتم تمكين روّاد الأعمال، فإنهم يخلقون فرص عمل، ويدفعون النمو، ويحوّلون المجتمعات.

روّاد الأعمال هم مستقبل أفريقيا».

باب التقديم لبرنامج TEF لريادة الأعمال لعام 2026 مفتوح من 1 يناير إلى 1 مارس 2026 عبر الموقع www.TEFConnect.com.

—

أثر TEF

اضغط هنا للاطلاع على بيانات على مستوى الدول حول روّاد الأعمال الشباب الذين تم دعمهم من خلال تمويل وتدريب وإرشاد TEF في كل دولة أفريقية. ولمعرفة الأثر التحويلي للمؤسسة في جميع أنحاء القارة، يُرجى زيارة صفحة الأثر والتقارير السنوية للمؤسسة. وللاستماع مباشرة إلى تجارب روّاد الأعمال أنفسهم، تفضل بزيارة صفحة قصص النجاح الخاصة بـ TEF.

—

نبذة عن مؤسسة توني إلوميلو

مؤسسة توني إلوميلو (TEF) هي المؤسسة الخيرية الرائدة في تمكين جيل جديد من روّاد الأعمال الأفارقة، ودفع القضاء على الفقر، وتحفيز خلق فرص العمل، وتعزيز النمو الاقتصادي الشامل في جميع الدول الأفريقية الـ54. ويستند عمل المؤسسة إلى مفهوم «الأفريقية الرأسمالية» (Africapitalism)، وهو الإيمان بأن القطاع الخاص الأفريقي هو المحرّك الأكثر فاعلية للتنمية طويلة الأجل.

وقد مكّنت القدرة القوية لـ TEF على الوصول إلى روّاد الأعمال عبر مختلف المناطق والقطاعات من إقامة شراكات مبتكرة مع الاتحاد الأوروبي (EU)، وبرنامج الأمم المتحدة الإنمائي (UNDP)، واللجنة الدولية للصليب الأحمر (ICRC)، وحكومة الولايات المتحدة عبر مؤسسة التنمية الأفريقية الأمريكية (USADF)، ومنظمة دول أفريقيا والكاريبي والمحيط الهادئ (OACPS)، ووكالة التنمية الفرنسية (AFD)، ومؤسسة التمويل الإنمائي الألمانية (DEG)، والوكالة الألمانية للتعاون الدولي (GIZ)، والبنك الأفريقي للتنمية (AfDB)، وشركة جوجل، ومنظمة الأمم المتحدة للطفولة (اليونيسف) – مبادرة جيل بلا حدود (GenU)، ومؤسسة خليفة بن زايد آل نهيان (KBZF).

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Capital de amortização não reembolsável de 5 000 USD, formação de classe a nível mundial e mentorato para os fundadores mais audaciosos de África

Mais de 24 000 empresários financiados, 2,5 milhões formados, 1,5 milhões de postos de trabalho criados, 4,2 milhões de dólares de receitas geradas desde 2015

Lagos, Nigéria - 1er janvier 2026 - A Fondation Tony Elumelu (TEF) abriu as candidaturas para o Programa de Empreendedorismo TEF 2026, apelando aos jovens fundadores ambiciosos de 54 países africanos para postarem dès maintenant no TEFConnect.

Os candidatos retidos recebem 5 000 $ US em capital de amortização não reembolsável, uma formação intensiva em negócios, um mentor e um acesso direto à maior rede de empreendedorismo de África.

Depuis 2015, le programme a financé plus de 24 000 entrepreneurs, formé 2,5 millions d'Africains, créé plus de 1,5 million d'emplois et généré plus de 4,2 milliards de dollars de revenus, prouvant que les entrepreneurs africains peuvent transformer le continent.

O programa estimula igualmente um crescimento inclusivo, com as mulheres a representarem mais de 46 % dos empresários do TEF - a taxa de participação feminina mais elevada registada por um programa desta envergadura.

Ao falar sobre o lançamento de 2026, Tony O. Elumelu, CFR, fundador da TEF e Presidente do grupo Heirs Holdings, declarou: :

“O maior desafio de África é o nosso povo. L'Afrique n'a pas besoin d'aide; l'Afrique a besoin d'investissements, dans les infrastructures, dans les institutions, mais surtout dans notre jeunesse.

Através da Fundação Tony Elumelu, demonstramos que, quando os empresários são responsabilizados, criam empregos, estimulam o crescimento e transformam as comunidades.

Os empresários são o futuro de África.

As candidaturas ao Programa Entrepreneuriat TEF 2026 estão abertas de 1 de janeiro a 1 de março de 2026 em www.TEFConnect.com.

Impacto do TEF

Clique aqui para consultar os dados nacionais sobre os jovens empreendedores apoiados pelo financiamento, a formação e a mentoria do TEF em cada país africano. Para explorar o impacto transformador do TEF em todo o continente, visite a página de impacto e os relatórios anuais da Fundação. Para conhecer diretamente os empreendedores, visite a página Histórias de Sucesso do TEF.

A propósito da Fundação Tony Elumelu

A Fundação Tony Elumelu (TEF) é a principal organização filantrópica que dá o poder a uma nova geração de empresários africanos, favorece a erradicação da pobreza, catalisa a criação de empregos e faz progredir um crescimento económico inclusivo nos 54 países africanos. O trabalho do TEF está enraizado no Africapitalismo; a convicção de que o sector privado africano é o motor mais eficaz do desenvolvimento a longo prazo.

A sólida capacidade do TEF para chegar aos empresários de todas as zonas geográficas e de todos os sectores permitiu-lhe estabelecer parcerias inovadoras com a União Europeia (UE), o Programa das Nações Unidas para o Desenvolvimento (PNUD), o Comité Internacional da Cruz Vermelha (CICR), o governo americano através da Fundação dos Estados Unidos para o Desenvolvimento de África (USADF) a Organização dos Estados de África, dos Caraíbas e do Pacífico (OEACP), a Agência Francesa de Desenvolvimento (AFD), a Instituição Alemã de Financiamento do Desenvolvimento (DEG) l'Agence allemande de coopération internationale (GIZ), la Banque Africaine de Développement (BAD), Google, le Fonds des Nations Unies pour l'enfance (UNICEF), Generation Unlimited (GenU) et la Fondation Khalifa Bin Zayed Al Nahyan (KBZF).

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Capital inicial não reembolsável de US$ 5.000, capacitação de classe mundial e mentoria para os fundadores mais ousados da África

24.000+ empreendedores financiados, 2,5 milhões capacitados, 1,5 milhão de empregos criados, US$4,2 bilhões em receita gerada desde 2015

Lagos, Nigéria – 1 de Janeiro de 2026 – A Fundação Tony Elumelu (TEF) abriu as inscrições para o Programa de  Empreendedorismo TEF 2026, chamando jovens fundadores ambiciosos de todos os 54 países Africanos para se candidatarem agora no TEFConnect.

Os candidatos aprovados recebem US$ 5.000 em capital inicial não reembolsável, capacitação intensiva em negócios, mentoria e acesso direto à maior rede de empreendedorismo da África.

Desde 2015, o Programa financiou mais de 24.000 empreendedores, capacitou 2,5 milhões de Africanos e criou mais de 1,5 milhões de empregos e geraram mais de US$ 4,2 bilhões em receita, provando que empreendedores Africanos podem transformar o continente.

O Programa também está impulsionando o crescimento inclusivo, com as mulheres agora representando 46% dos empreendedores TEF – o maior número de mulheres taxa de participação registrada por um programa dessa escala.

Falando sobre o lançamento em 2026, o fundador da TEF e presidente do Heirs Holdings Group, Tony O. Elumelu, CFR, disse:

“O maior patrimônio da África é nosso povo. A África não precisa de ajuda; A África precisa de investimentos, em infraestrutura, em instituições, mas mais criticamente em nossos jovens.

Por meio da Fundação Tony Elumelu, mostramos que, quando empreendedores são empoderados, eles criam empregos, impulsionam o crescimento, e transformar comunidades.

Empreendedores são o futuro da África.”

As inscrições para o Programa de Empreendedorismo TEF 2026 estão abertas de 1 de Janeiro a 1 de Março de 2026 no dia www.TEFConnect.com.

Impacto TEF

Clique aqui para dados em nível nacional sobre jovens empreendedores apoiados pelo financiamento, capacitação e mentoria do TEF em cada país Africano. Para explorar o impacto transformador do TEF em todo o continente, visite a Página de Impacto e os Relatórios Anuais da Fundação. Para ouvir diretamente os próprios empreendedores, visite a página de Histórias de Sucesso do TEF.

Sobre a Fundação Tony Elumelu

A Fundação Tony Elumelu (TEF) é a principal instituição filantrópica que capacita uma nova geração de empreendedores Africanos, impulsionando a erradicação da pobreza, catalisando a criação de empregos e promovendo o crescimento econômico inclusivo em todos os 54 países Africanos. O trabalho da TEF está enraizado no Africapitalismo; a crença de que o setor privado da África é o motor mais eficaz para o desenvolvimento de longo prazo.

A robusta capacidade do TEF de alcançar empreendedores de diferentes geografias e setores permitiu que realizasse atividades inovadoras parcerias com a União Europeia (UE), o Programa das Nações Unidas para o Desenvolvimento (PNUD), o Comitê Internacional da Cruz Vermelha (CICV), o Governo dos EUA por meio da Fundação dos Estados Unidos para o Desenvolvimento Africano (USADF), a Organização da África e do Caribe e Estados do Pacífico (OACPS), a Agência Francesa de Desenvolvimento (AFD), a Instituição Alemã de Financiamento ao Desenvolvimento (DEG), a Agência Alemã de Cooperação Internacional (GIZ), o Banco Africano de Desenvolvimento (BAD), Google, o Fundo das Nações Unidas para a Infância (UNICEF) Geração Ilimitada (GenU) e a Fundação Khalifa bin Zayed Al Nahyan (KBZF).

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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 

The post Our Founder, Tony O. Elumelu CFR’s Full Remarks on CNN’s Global Perspective on Africa in London appeared first on The Tony Elumelu Foundation.

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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Monday, November 17, 2025

Opening

• Distinguished Ladies and Gentlemen,

• Leaders of government, of business, young entrepreneurs gathered here, all who are responsible for tomorrow’s possibilities — good morning.

• It is an honour to be here.

• Let me be blunt:

• The future of Nigeria is not going to be written in some far-off boardroom.

• It is being shaped, right now, by you, by us, by every passionate entrepreneur, who refuses to settle for average, who beats the odds and dares to dream big in this great country.

Nigeria is Entrepreneurial — But We Must Build to Last

• Too many of our businesses never get past the struggle.

• Too many great ideas fail because the system, the support, the ecosystem—wasn’t there for them.

• This must change. Starting businesses is good. But, sustaining them? This is critical. And that’s how we transform this economy.

• I started out just like many of you — restless, ambitious, ready to prove myself.

• But experience taught me: success isn’t about today. It’s about what remains when you’re gone.

• If you are chasing profit and nothing else — your journey will be short.

• If you’re driven by purpose and a vision to make lives better — your legacy will endure.

Private Sector: The Engine of Nigeria’s Renewal

• Here’s the bottom line:

• Nigeria will not be built by government handouts or foreign aid. Government’s role is critical, but:

• Nigeria will be built by entrepreneurs — by you, building businesses that create jobs, hope, and prosperity from the ground up.

• But you cannot do it alone.

• You need frameworks — clear governance, succession planning, and relentless focus on value.

• This is why at the Tony Elumelu Foundation, yes we give each beneficiary a non-refundable seed capital of USD5,000.00.

• But to us, our greatest catalytic impact is the 12-week business education class we organise for young African entrepreneurs.

• We do this to enlarge our private sector. Because we believe that the private sector is the engine of Nigeria’s renewal.

• That’s Africapitalism that drives us at Heirs Holdings — using business to build Africa, to build Nigeria, to do well and do good at the same time.

We Need the Right Environment

• We need a Nigeria where:

• Policies are predictable (investors love predictability—let’s give it to them).

• Infrastructure works.

• Financing is truly accessible.

• Our best brains aren’t stuck solving the same old problems— or leaving the country

• We know this can be done – we have done it!

• At the Tony Elumelu Foundation, we put our money where our mouth is.

• Over 24,000 young Africans — 9,229 from Nigeria — have received capital, mentorship, training, not just to start up, but to scale up.

• They are building businesses, creating jobs, exporting to new markets.

• That is the future.

Public and Private Sectors: Collaboration is Key

• Let me speak directly to Government, the private sector, institutions like SMEDAN — our work must be connected, not siloed.

• Let me commend Charles Odii – SMEDAN CEO/Director General for this and what he has been doing since his appointment.

• Let me also commend His Excellency, President Bola Ahmed Tinubu, GCFR, for believing in and appointing young Nigerians to steer critical national agencies and for all he does to support youth entrepreneurship in Nigeria.

• Let us cut the bureaucracy. Make finance and opportunity real, not theoretical.

• Design policies that spark innovation.

• Let’s help Nigeria’s entrepreneurs move from surviving – to winning.

• Every job we create fights insecurity.

• Every thriving business increases our tax base and accelerates prosperity for ALL.

Digital is the Game Changer

• Let’s talk digital.

• Today, a woman in Lekki or Oshodi can run a global operation right from her smartphone.

• Technology has levelled the playing field — opportunity is before us – if we build the infrastructure, if digital skills reach EVERY community, if no entrepreneur is left behind.

• We need the power that is so vital to the digital economy.

• Last month in Washington, at the IMF meetings, my message was straightforward.

• We Africans must be included in the AI revolution.

• My message in Nigeria is the same – without infrastructure, without power, Africa will be left behind once again. We need to act and now, for Nigeria, for Africa.

• We need a Nigeria that is built to last and built to succeed.

Call to Action: Build for Generations

• We — leaders, policymakers, business owners — must forge partnerships that set our entrepreneurs free to focus on GROWTH.

• We must turn pain into progress, hustle into history.

• Our entrepreneurs are tough, resilient — but hardship shouldn’t be our default strategy!

• Resilience must lead to innovation, not just survival.

• So, let me challenge every one of you:

• Don’t just start, SCALE.

• Don’t just build for profit, BUILD FOR PURPOSE.

• Don’t just think of today — think generations.

• Nigeria, it’s time to move from start-ups to scale-ups, from individuals to institutions, from small ventures to lasting legacies.

• That’s how we create a future where everyone

• That’s how we build a Nigeria that works — for ALL.

• I repeat, we need a Nigeria that is built to last and built to succeed.

• Thank

DEDO DO PÉ

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A Partnership of the Tony Elumelu Foundation, the UNDP, the European Union, and the Rwandan Ministry of Youth and Arts

Lagos, Nigeria AND KIGALI, RWANDA – November 03, 2025 – The Tony Elumelu Foundation (TEF), in partnership with the United Nations Development Programme (UNDP), the European Union (EU), and the Rwandan Ministry of Youth and Arts (MoYA), launches the fourth Aguka Ideation Entrepreneurship Programme, which will support for 100 young Rwandan entrepreneurs.

This follows the success of previous cohorts, empowering 300 young Rwandans, with USD $900,000 in total seed capital and business training.

Derived from the Kinyarwanda word “Aguka,” meaning “Arise”, the Programme reflects a shared mission to empower Rwanda’s youth to build sustainable businesses that transform communities. The 2026 Aguka Ideation Programme prioritises youth-led ventures in technology, agriculture, health, education, and renewable energy—key sectors driving Rwanda’s sustainable development agenda.

“At the Tony Elumelu Foundation, we remain deeply committed to empowering Africa’s next generation of changemakers,” said Somachi Chris-Asoluka, CEO of the Tony Elumelu Foundation. “Aguka demonstrates how public-private partnerships can deliver real impact. Every young Rwandan with an idea holds the power to transform their community, create jobs, and contribute to Rwanda’s economic transformation.”

Programme Benefits include:

• Entrepreneurship training on TEFConnect covering business management, financial literacy, and sustainability.

• Expert mentorship from African business leaders and professionals.

• Seed capital of USD $3,000 to launch or scale ventures.

• Networking access to TEF’s continental entrepreneurship ecosystem.

Selected beneficiaries of previous Aguka cohorts have launched innovative businesses that are already making an impact across Rwanda:

• Naomi Iradukunda, founder of Ira EcoSolutions, who developed affordable biodegradable packaging, using banana fibres, reducing plastic waste, while creating jobs for women in Musanze District.

• Jean Bosco Hirwa, through AgriSmart Rwanda, introduced solar-powered irrigation systems to smallholder farmers, increasing yields and improving food security.

• Keza Umutoni, a Kigali-based entrepreneur, expanded her youth-led digital literacy start-up Tech4Teens, training over 500 secondary school students in coding and digital skills.

Applications for the 2026 Aguka Cohort open November 1, 2025, and close January 11, 2026, via www.TEFConnect.com. Selected entrepreneurs will undergo six weeks of intensive business training, followed by mentorship, business development support, and a national pitching competition. Each selected entrepreneur will receive USD $3,000 in non-refundable seed funding and lifetime access to TEF’s pan-African entrepreneurship network.

Read more about the programme’s impact aqui.

Sobre a Fundação Tony Elumelu

The Tony Elumelu Foundation (TEF) is the leading philanthropy empowering African entrepreneurs. Through the TEF Entrepreneurship Programme, the Foundation has disbursed over USD $100 million in direct seed capital to 24,000 entrepreneurs across all 54 African countries, who have collectively created over 1.5 million jobs and generated over USD $4.2 billion in revenue. TEF’s mission is rooted in Africapitalism — the belief that Africa’s private sector and entrepreneurs must drive the continent’s social and economic transformation.

Sobre o PNUD

The United Nations Development Programme (UNDP) works in nearly 170 countries to eradicate poverty and reduce inequalities through sustainable development. In Rwanda, UNDP partners with government, private sector, and civil society to promote youth innovation, entrepreneurship, and inclusive growth aligned with the Sustainable Development Goals (SDGs).

About the European Union

The European Union (EU) is a strategic partner supporting youth empowerment, entrepreneurship, and sustainable development across Africa. In Rwanda, the EU collaborates with UNDP, TEF, and MoYA under the Aguka Programme to advance youth employment and innovation.

About the Ministry of Youth and Arts (MoYA), Rwanda

The Ministry of Youth and Arts (MoYA) leads national efforts to empower young people, promote creativity, and strengthen Rwanda’s entrepreneurial ecosystem. Through programmes like Aguka, MoYA supports a generation of innovative and self-reliant youth.

For media enquiries:

Moyo Awotile

moyo.awotile@tonyelumelufoundation.org

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5 November 2025, Dubai, UAE, – His Excellency Badr Jafar, Special Envoy of the UAE Minister of Foreign Affairs for Business and Philanthropy, and CEO of Crescent Enterprises has been appointed to the Advisory Board of the Tony Elumelu Foundation (TEF), the leading philanthropy empowering young African entrepreneurs. The appointment signifies TEF’s commitment to fostering cross-regional collaboration, that drives inclusive economic growth, scale innovation and youth entrepreneurship, unlocking economic opportunities for the next generation.

HE 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).

The Tony Elumelu Foundation is the leading philanthropy committed to championing youth entrepreneurship across Africa, catalysing job creation, eradicating poverty, and driving inclusive economic empowerment across all 54 African countries. Since 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 21,000 entrepreneurs on the TEF Entrepreneurship Programme, with an additional 3.000 young African entrepreneurs to be funded at the end of 2025. 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 people out of poverty, with 45% of supported entrepreneurs being African women.

The appointment of H.E. Badr Jafar further reflects the Foundation’s growing strategic engagement with the UAE and broader Gulf region. This deepening relationship is exemplified by TEF’s recent partnership with the UAE Office of Development Affairs and Khalifa Bin Zayed Al Nahyan Foundation, an affiliate of Erth Zayed. Existing partners of the Foundation include the Europe Union, the United Nations Development Programme, the International Committee of the Red Cross and the Ikea Foundation.

Tony O. Elumelu, Founder of the Tony Elumelu Foundation, commented: “At the Tony Elumelu Foundation, we believe that entrepreneurship is the most sustainable solution to youth unemployment and economic transformation in Africa. We welcome H.E. Badr Jafar to our Advisory Board – his 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”.

H.E. Badr Jafar joins the Board at a time of growing recognition of Africa’s entrepreneurial potential, and amid the UAE’s increasing role as a hub for capital, innovation, and expertise across emerging markets. 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.”

With a rising focus on strategic philanthropy in the Gulf region, the opportunity to align capital with purpose has never been more urgent. The appointment underscores a shared commitment to advancing youth opportunity, innovation, and inclusive prosperity, not only within Africa, but globally.

To learn more about our #TEFImpact, please read the 2024 TEF Annual Report and the latest TEF Impact Report to see how Tony Elumelu Entrepreneurs are transforming Africa.

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