Over a decade ago, the Tony Elumelu Foundation (TEF) took a bold chance on African entrepreneurs. A decade and a half later, the results speak for themselves.
Our Founder, Tony O. Elumelu, CFR, and Co-Founder, Dr. Awele V. Elumelu, OFR, launched TEF in 2010 with a singular mission: to transform Africa through entrepreneurship.
In 2015, they went on to make a bold $100 million commitment to empower Africa’s next generation of entrepreneurs with non-refundable seed capital, business training, mentorship, and access to powerful networks, through the flagship TEF Entrepreneurship Programme.
Today, the impact is undeniable:
- 21,000+ entrepreneurs funded across all 54 African countries
- 1.5 million jobs created
- $4.2 billion in revenue generated
- 2.1 million Africans lifted out of poverty through the TEF Entrepreneurship Programme
- Gender parity achieved with 45% women beneficiaries
- Green and creative entrepreneurship pioneered at scale
“We have built to last, and we have built for impact. These past years are the clearest evidence that Africapitalism works.” ~ Tony O. Elumelu, CFR
Click here to read our 2024 Annual Report and see how our entrepreneurs are transforming Africa, one business at a time.