The 2024 Tony Elumelu Foundation Entrepreneurship Competition for Africans is now open for applications (Non-refundable seed funding of USD 5,000)

Finance January 2, 2024

0 2 minutes read

The 2024 Tony Elumelu Foundation Entrepreneurship Competition for Africans is now open for applications

African entrepreneurs with business ideas or existing businesses under 5 years, are encouraged to apply now for $5000 seed capital, mentorship, business management training and more on the 2024 Tony Elumelu Foundation Entrepreneurship Programme.

The 2024 Tony Elumelu Foundation Entrepreneurship Competition for Africans is now open for applications

The Tony Elumelu Foundation is the leading philanthropy empowering a new generation of African entrepreneurs, driving poverty eradication, catalysing job creation across all 54 African countries, and ensuring inclusive economic empowerment. Since the launch of the TEF Entrepreneurship Programme in 2015, the Foundation has trained over 1.5 million young Africans on its digital hub, TEFConnect, and disbursed nearly USD$100 million in direct funding to 18,000 African women and men, who have collectively created over 400,000 direct and indirect jobs. The Foundation’s mission is rooted in Africapitalism, which positions the private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the African continent.

The Foundation’s ability to fund, train, mentor, and network young African entrepreneurs, has created a unique platform for catalysing growth across the African continent. The robust ability of the Foundation to reach entrepreneurs across geographies and sectors, has enabled it to conduct innovative partnerships with the European Union,United Nations Development Programme, the International Committee of the Red Cross, the United States Government via the United States African Development Foundation (USADF), The Organisation of African, Caribbean and Pacific States (OACPS), The French Development Agency (AFD), The German Development Finance Institution (DEG), The German Agency for International Cooperation (GIZ), The African Development Bank (AfDB), and Google, with bespoke programmes including targeting female empowerment and growth in fragile states.

Benefits

Non-refundable seed funding of USD 5,000
A world-class business training
Access to TEF Alumni network of entrepreneurs across Africa
Mentoring and networking opportunities via Africa’s largest digital platform for Entrepreneurs, TEFConnect.net