Ifeyinwa Ugochukwu - Afrikan Heroes

Tony Elumelu Foundation’s 2022 TEF Programme Opens

December 31, 2021

Since 2015, the TEF Entrepreneurship Programme — Africa’s only African-funded entrepreneurship catalyst — has provided non-returnable seed capital of $5,000, 12 weeks of business management training, access to experienced mentors, and membership in Africa’s largest entrepreneurial ecosystem to 15,847 African entrepreneurs.

For its 2021 Entrepreneurship Programme, the Tony Elumelu Foundation distributed $24.75 million to 5,000 African businesses across Africa in 2021.

CEO of the Tony Elumelu Foundation, Ifeyinwa Ugochukwu

“We are constantly blown away by the quality of businesses that come from Africa every year. This motivates us to scale our efforts to empower even more entrepreneurs on the continent. The innovation, knowledge and resilience of African entrepreneurs are central to charting Africa’s socio-economic transformation and meeting the continent’s development objectives. We are also proud of the increase in female participation on our programme, especially with the 2021 cohort where we witnessed a record 68 per cent selection of women entrepreneurs,” CEO of the Tony Elumelu Foundation, Ifeyinwa Ugochukwu, said commenting on the launch of the 2022 TEF Entrepreneurship Programme.

Given the consequences of the COVID-19 pandemic across Africa, the Foundation’s Entrepreneurship Program remains one of the largest private sector solutions to supporting the economic recovery of African youth, women, and SMEs.

Beneficiaries of the Tony Elumelu Foundation Entrepreneurship Program are founding and growing groundbreaking enterprises that have produced over 400,000 direct and indirect jobs across Africa.

“Through the Tony Elumelu Foundation Entrepreneurship Programme, we seek to democratise luck. Hard work plays an important and undeniable part in success, but one must not discount the role of luck — someone being willing to take a chance on you or business idea by empowering you through training, mentorship or funding. Our hope is that, through the Tony Elumelu Foundation Entrepreneurship Programme, we would help the next business leader or captain of industry be whom they are meant to be,” Founding Trustee of the Tony Elumelu Foundation, Dr A V. Elumelu, stated.

Applications are open from January 1, 2022 on TEFConnect digital platform (www.tefconnect.com).

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Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer

Tony Elumelu Foundation 2021 TEF Entrepreneurship Programme Application Opens on January 1, 2021

January 2, 2021

The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy dedicated to empowering African entrepreneurs, opens applications on its TEFConnect digital platform (www.tefconnect.com) today, January 1, 2021.

This year’s intervention prioritises the economic recovery of small and medium scale enterprises (SMEs) and young African entrepreneurs, following the Covid-19 disruption to economic activities.

To address the unique challenges arising from the pandemic, lift millions out of poverty and create sustainable employment across the continent, the Foundation’s Entrepreneurship Programme will empower 1,000 young African entrepreneurs, selected from the 2020 cohort. The Foundation will also open applications to an additional 2,400 young entrepreneurs in 2021, in collaboration with global partners.

The Tony Elumelu Foundation, which celebrated ten years of impact in 2020, is empowering a new generation of African entrepreneurs, through the TEF Entrepreneurship Programme. Successful applicants receive a world-class business training, mentorship, non-refundable seed capital up to $5,000, and global networking opportunities. The Programme is open to entrepreneurs across Africa, both new start-ups and existing young businesses, operating in any sector.

CEO of the Tony Elumelu Foundation, Ifeyinwa Ugochukwu stated, “The Tony Elumelu Foundation now more than ever is demonstrating our commitment to unleashing the potential of young African entrepreneurs, the key to Africa’s long-term economic transformation. The pandemic has created challenges across the continent, but we know that with the Tony Elumelu Foundation’s tried and tested Programme, we can execute the largest Covid-19 economic recovery plan for African SMEs and break the cycle of poverty in Africa.”

The Tony Elumelu Foundation’s $100million Entrepreneurship Programme, launched in 2015 to empower 10,000 entrepreneurs over 10 years, is now entering its 7th year and has empowered to date, over 9,000 young African entrepreneurs from 54 African countries.

Prospective applicants should apply on the digital networking hub for African entrepreneurs, www.tefconnect.com.