Promoting Entrepreneurship : 1200 Entrepreneurs selected across Africa

The Tony Elumelu Foundation has announced the 2024 cohort of its Flagship Entrepreneurship Programme. This was during a hybrid event that took place on the 22 March 2024. The Tony Elumelu Foundation (TEF), the leading philanthropy empowering African entrepreneurs, has selected 1,200 African entrepreneurs across 54 African countries as beneficiaries of its flagship Entrepreneurship Programme. The 1,200 entrepreneurs will make up the 10th cohort of the TEF Programme. It is on record that the Foundation has disbursed over CFA 60 billion directly into the hands of young African entrepreneurs, who have, in turn, created over 400,000 direct and indirect jobs, contributing significantly to Africa's economic growth and development. The Foundation has also provided capacity-building support, advisory services, and market linkages to over 1.5 million Africans through its digital entrepreneurship-support platform, TEFConnect.
While announcing the fellows of cohort 10, the founder of TEF Tony Elumelu disclosed that each fellow will receive a non-refundable seed capital of over CFA three million (USD 5000) that will enable them to start a business or support their existing business.
He said they believe in spreading luck and prosperity in Africa. He acknowledged that the poverty level in Africa is still very high thus the best way to help Africa out of poverty is to encourage the younger generation to start their businesses  He sounded off that 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 over USD$100 million in direct funding to 20,000 young African women and men, who have collectively created over 400,...