The Tony Elumelu Foundation (TEF) will announce the 2025 cohort of its flagship TEF Entrepreneurship Programme on Saturday, March 22, a statement from the charity organization has said.
Since inception, TEF has provided over $100 million in direct funding to African entrepreneurs, creating 1.5 million jobs and generating $4.2 billion in revenue, lifting over two million Africans out of poverty.
Grantees are selected through an independent assessment process managed by Ernst & Young. Each selected entrepreneurs will receive $5,000 in non-refundable seed capital, world-class business training on TEFConnect, one-on-one mentorship, and access to global networks and investment opportunities.
Ahead of the announcement, TEF Founder and Heirs Holdings Chairman, Tony Elumelu, reaffirmed his belief in entrepreneurship as Africa’s path to prosperity.
He said: “Africa’s transformation will not be driven by aid but by empowering the next generation of entrepreneurs—with funding, training, and networks to build sustainable businesses that create jobs and economic growth”.
Success Stories from TEF Alumni
Over the past decade, TEF has nurtured entrepreneurs from inception to success, scaling its impact across all 54 African countries. The organisation has has provided capital and also developed a robust monitoring and evaluation framework that allows them to track the progress of entrepreneurs and measure their contributions to their communities and economies.
And the TEF entrepreneurs have amazing stories.
“The programme helped me refine my mission, vision, and financial management. Since then, I have created jobs and launched an accelerator programme to train young girls in vocational skills,” said Mechi Amaah, 2019 Alumna from Cameroon.
“My job search platform now has 46,000 users, impacting 8,000 young people and helping 600+ find jobs across Cameroon and Central Africa,” said Angele, 2018 Alumna, Cameroon.
Over FCFA 1.6 provided to Cameroonians
The 2025 announcement comes at a crucial time as Africa’s entrepreneurship ecosystem faces funding challenges amid global economic uncertainty.
Between 2015 and 2024, the Tony Elumelu Foundation (TEF) provided financial aid to 689 young Cameroonian entrepreneurs through its Entrepreneurship Program (TEEP), disbursing a total of over $2.73 million (or over CFA1.6 billion).
