The Tony Elumelu Foundation Announces 12th Cohort
Analysis based on 13 articles · First reported Mar 19, 2026 · Last updated Mar 21, 2026
The announcement by the The Tony Elumelu Foundation highlights the growing entrepreneurial landscape in Africa and the significant investment in its development. This initiative, supported by various international partners, is expected to foster job creation and economic growth across the continent, particularly in sectors like agriculture, AI, healthcare, and the green economy.
The The Tony Elumelu Foundation (TEF) is set to announce the 12th cohort of its flagship Entrepreneurship Programme on March 22, 2026. The program will empower 3,200 young African entrepreneurs selected from over 265,000 applicants across all 54 African countries. Each selected entrepreneur will receive $5,000 in non-refundable seed capital, business management training on TEFConnect, one-on-one mentorship, and access to a network of investors and partners. The total disbursement for 2026 is US$16 million. Key partners include Heirs Holdings Group, International===European Commission, OACPS, BMZ, GIZ, Benin===Sèmè City Development Agency, DEG, IKEA Foundation, UNICEF's Generation Unlimited, the Dutch Government, UNDP, and the Rwandan Ministry of Youth and Arts. The selection process is independently conducted by Ernst & Young. Since its inception, TEF has trained over 2.5 million young Africans and disbursed over US$100 million in seed capital, leading to $4.2 billion in revenue and 1.5 million jobs created, lifting 2.1 million Africans above the poverty line.
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