Tony Elumelu Foundation $5000 grant in 2023

Closes: 31 March 2023

Applications for the 2023 TEF Entrepreneurship Program are now being accepted online at TEFConnect by the Tony Elumelu Foundation (TEF), the premier foundation promoting young African entrepreneurs throughout all 54 African countries. African businesspeople are encouraged to apply now for the 2023 Tony Elumelu Foundation Entrepreneurship Program for $5,000 in seed money, mentorship, business management training, and other benefits.

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With non-returnable seed capital of $5,000 each, twelve weeks of business management training, access to seasoned mentors, and membership in Africa’s largest entrepreneurial ecosystem, the TEF Entrepreneurship Programme, the only African-funded entrepreneurship catalyst of its kind, has empowered 15,847 African entrepreneurs since 2015.

Under its 2021 Entrepreneurship Project, the Tony Elumelu Foundation distributed USD$24.75 million to 5000 African business owners throughout Africa in 2021. Given the effects of the COVID19 pandemic across Africa, the Foundation’s Entrepreneurship Project continues to be one of the major private sector solutions to fostering the economic recovery of African youth, women, and SMEs. Beneficiaries of the Tony Elumelu Foundation Entrepreneurship Programme are launching and expanding ground-breaking firms all over Africa that have collectively produced over 400,000 direct and indirect jobs.

EmployerTony Elumelu Foundation
Host NationNigeria
Official Website
Closing Date31 March 2023
Candidate African Youths
TEF $5000 Grant Summary

Hauwa Liman, a female company owner and the founder of Afrik Abaya, said this about the Tony Elumelu Foundation Entrepreneurship Program in 2015: “I am always proud to mention that I am from the initial cohort. The location of my company is Kaduna, in northern Nigeria. In 2015, I benefited from this program, and it provided me with a lot of doors and opportunities.

What really interests me about the Programme is the knowledge, not just the seed money. I refer to it as a “mini-MBA program” since it teaches you how to truly describe your business from the ideation stage on, and it provided me my first business plan. Opportunities, visibility, and the network are limitless. I couldn’t have learned about entrepreneurship without the Tony Elumelu Foundation. Thanks to the Foundation, I will soon begin exporting to other nations. We currently have ten regular employees and another eight on a commission basis.

Ifeyinwa Ugochukwu, CEO of the Tony Elumelu Foundation, said in a statement about the start-up of the 2022 Tony Elumelu Foundation Entrepreneurship Program, “We are constantly blown away by the calibre of firms that emerge from Africa every year. This encourages us to grow up our initiatives to support additional entrepreneurs across the continent.

African entrepreneurs’ creativity, expertise, and tenacity are crucial for guiding the socioeconomic transition of the continent and achieving its development goals. We are also pleased with the rise in female enrollment in our program, particularly with the 2021 cohort, which had a record selection of 68% female entrepreneurs.

“With the Tony Elumelu Foundation Entrepreneurship Programme, we want to democratize luck,” said Dr. A. V. Elumelu, a founding trustee of the organization. While it is apparent that hard work is a key component of success, one must also take into account the luck that comes from someone being willing to take a chance on you or your company concept by investing in your education, mentoring, or funding.

The Tony Elumelu Foundation, the leading advocate for entrepreneurship in Africa, empowers both men and women on the continent of Africa through entrepreneurship to stimulate economic growth, promote the eradication of poverty, and guarantee job creation. The goal of the Foundation is based on the Africapitalism concept, which sees the private sector as the primary engine for generating economic and social riches in Africa. Almost 1.5 million Africans have benefited from capacity-building help, advice, and market connections thanks to the Foundation’s own digital platform, TEFConnect.

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