1,000 entrepreneurs selected for the 2nd round of the Tony Elumelu Entrepreneurship Programme


1,000 entrepreneurs in Africa have been selected for the 2nd round of the Tony Elumelu Entrepreneurship Programme (TEEP), a 2015 Tony Elumelu Foundation (TEF) launched initiative to empower over 10,000 entrepreneurs in Africa, create a million jobs and add $10 billion in revenues to Africa’s economy.

The 10-year, $100 million commitment saw over 45,000 entrepreneurs from 54 African countries apply, more than doubling the number of applications received in 2015.

In a statement, founder, Tony O. Elumelu, CON, said: “In TEEP’s first year we spent over $8 million of our $100 million commitment – with $5 million going directly to entrepreneurs as seed capital — and the results have far exceeded our expectations. We have funded entrepreneurs, established networks and helped extraordinary people take control of their destinies. The 2016 Tony Elumelu Entrepreneurs will become a generation of newly empowered African business owners, who are the clearest evidence yet, that indigenous business growth will drive Africa’s economic and social transformation.”

This year’s cohort will for over the next nine months receive intensive online training, networking and mentoring, that provide a tool kit for success and sustainability and later in the year, they will participate in a three-day Elumelu Entrepreneurship Forum.

See a full list of the selected Tony Elumelu Entrepreneurs for TEEP 2016, please visit www.tonyelumelufoundation.org/teep