The Tony Elumelu Foundation (TEF) is set to announce the 2026 cohort of its flagship Entrepreneurship Programme on March 22, marking the 12th edition of the initiative aimed at empowering young African entrepreneurs.
The foundation disclosed that it received over 265,000 applications from all 54 African countries, highlighting both the vibrancy of the continent’s entrepreneurial ecosystem and the growing demand for early-stage funding.
For 2026, TEF plans to empower a total of 3,200 entrepreneurs through its various programmes and partnerships.
These include collaborations with institutions such as the European Commission, OACPS, BMZ, GIZ, UNDP, and others, alongside support from Heirs Holdings Group companies.
According to the foundation, key sectors attracting the highest number of applications include agriculture, artificial intelligence, healthcare, and the green economy—areas seen as critical to Africa’s future growth and sustainability.
Selected entrepreneurs will each receive $5,000 in non-refundable seed capital, alongside access to business training via TEFConnect, mentorship, and entry into a global network of investors and partners.
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The selection process is independently conducted by Ernst & Young to ensure transparency and rigor.
TEF also revealed plans to disburse a total of $16 million in funding throughout 2026 across its programmes, reinforcing its commitment to supporting early-stage businesses on the continent.
Since inception, the foundation has trained over 2.5 million young Africans through its digital platform and disbursed more than $100 million to over 24,000 entrepreneurs.
These beneficiaries have collectively generated over $4.2 billion in revenue and created more than 1.5 million jobs, both directly and indirectly.
Founder Tony Elumelu reaffirmed his commitment to Africa’s entrepreneurial future, stating that empowering entrepreneurs remains the most sustainable pathway to economic transformation across the continent.
The new cohort will join a growing TEF alumni network of more than 24,000 entrepreneurs, further strengthening the foundation’s impact across Africa.
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