One of the largest African philanthropic initiative devoted to supporting entrepreneurs and entrepreneurship, Tony Elumelu Foundation (TEF), will on Tuesday, January 1, 2019, begin to accept applications for the fifth cycle of its Entrepreneurship Programme.
For the fifth cycle of the programme by TEF, 1,000 selected applicants will join the current 4,470 beneficiaries of the Programme.
‘‘Beneficiaries of the Programme have been profiled in global media, including the Forbes [Africa] 30 Under 30 list. They have attracted the attention of investors, as well as have been recipients of awards,’’ the statement read in part.
Since 2015, the TEF Entrepreneurship Programme – the only African-funded entrepreneurial catalyst of its kind – has empowered 4,470 African entrepreneurs, with seed capital of $5,000 each; twelve weeks of accelerated online business training; access to experienced mentors; and membership of Africa’s largest entrepreneurial ecosystem.
The Tony Elumelu Foundation Entrepreneurship Programme is an entrepreneurial initiative run by the Tony Elumelu Foundation, based in Nigeria, spanning across Africa. The programme’s founder is billionaire businessman and philanthropist, Tony O. Elumelu and the CEO of the Tony Elumelu Foundation is Parminder Vir, OBE.
The programme gives training, mentorship and seed capital to entrepreneurs with start-up business ideas they want to execute in Africa. By doing so, The Programme embodies Africapitalism, the economic philosophy that Elumelu coined.
The Tony Elumelu Foundation is an African non-profit organization founded in 2010 by Elumelu and headquartered in Lagos, Nigeria, based on his belief that, with the right support, entrepreneurs can be empowered to contribute meaningfully to Africa’s prosperity and social development.
The Foundation is intent on charting a new course for African philanthropy and does not operate merely as a grant-awarding organisation. It is a pioneer member of the Global Impact Investment Rating System (GIIRS).
TEF is positioned as a 21st-century catalytic philanthropy. As a primary driver of Africapitalism, the Foundation is committed to the economic transformation of Africa by enhancing the competitiveness and growth of the African private sector, through a push for entrepreneurship.