The Tony Elumelu Foundation (TEF) stands as Africa’s largest philanthropic initiative committed to empowering young entrepreneurs across the continent.
Founded in 2010 by visionary investor and philanthropist Tony O. Elumelu, the foundation was built on the philosophy of Africapitalism the belief that the private sector, led by entrepreneurs, is the key driver of Africa’s social and economic transformation.
In 2015, TEF launched its flagship Entrepreneurship Programme, committing $100 million over 10 years to identify, train, mentor, and fund 10,000 African entrepreneurs.
Nearly a decade later, the foundation has far exceeded its initial vision, directly supporting over 20,000 entrepreneurs from all 54 African countries, while its digital platform, TEFConnect, has connected more than a million aspiring business leaders.
This year, TEF expanded its partnerships with global institutions such as the United Nations Development Programme (UNDP) and the European Union to scale its impact, providing seed capital and capacity-building resources to thousands of women and youth-led enterprises across Africa.
These ventures cut across critical sectors like agriculture, healthcare, renewable energy, and technology—driving both profit and social good.
As a nominee for Social Enterprise of the Year, the Tony Elumelu Foundation exemplifies the power of structured philanthropy that empowers people to build sustainable businesses.
It continues to set the benchmark for how social enterprise can create long-term economic empowerment while fostering inclusive growth across Africa.
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