The Tony Elumelu Foundation (TEF), has opened applications for its 2020 cohort of the TEF Entrepreneurship Programme, from January 1, 2020.
The Tony Elumelu Foundation Entrepreneurship Programme is open to entrepreneurs from across Africa, either with new startup ideas or existing businesses of less than 3 years existence, operating in any sector.
To apply, one should go through TEFConnect, its digital networking hub for the African entrepreneurship ecosystem. The 2020 cohort will join the 9,000 plus current beneficiaries, from across Africa.
TEF gives entrepreneurs business training, mentoring, a non-refundable $5,000 of seed capital and global networking opportunities. Last year, TEF received about 216,000 applications, with 42 percent of them women entrepreneurs.
The TEF Entrepreneurship Programme, is a 10-year, $100 million commitment to identify, train, mentor and fund 10,000 young African entrepreneurs. TEF’s goal is to create millions of jobs and the revenue required for the sustainable development of the continent, implementing the philosophy of Africapitalism, which positions the private sector as the growth engine for Africa and emphasises the importance of creating social and economic wealth.
Early this year, the African Development Bank said it would support 1000 additional youth entrepreneurs into the Tony Elumelu Foundation. With the deal, a total of 3,050, young entrepreneurs across 54 African countries over the next year will receive support under this partnership as the Bank will enable an additional 1,000 entrepreneurs to join the Tony Elumelu Entrepreneurship Program (TEEP)
“Youth are not Africa’s future, but our present. When youth have the chance to succeed, economies across Africa will grow, job opportunities will increase and the quality of life for the people of Africa will improve,” said Dibba-Wadda.
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