TechInAfrica – The Tony Elumelu Foundation (TEF) has just announced African entrepreneurs who will join its entrepreneurship program. There are 3,050 entrepreneurs who are selected the fifth cohort of the Tony Elumelu Foundation Entrepreneurship Program.
On this edition, there were a total of 216,000 applicants submitted to the TEF Entrepreneurship Program. Compared to last year, there was an increase of 65,000 applicants. Among those numbers, 90,000 applications were submitted by female entrepreneurs.
On the program, the selected applicants will receive $5,000 of seed funding, mentorship, and 12-week business training program that will be focusing more on the need of African entrepreneurs.
Tony O. Elumelu, Founder of TEF, remarked: “Every year, we face an almost impossible task – to select 1,000 entrepreneurs, from the hundreds of thousands that apply. Our entrepreneurs are hungry to effect change. We know we are only scratching the surface, we see the depth of entrepreneurial talent, that all of us. We must rally together to empower them and accelerate the change we want on the continent.”
The Tony Elumelu Foundation is committed to empowering African entrepreneurs through its entrepreneurship program. By far, there are 7,520 entrepreneurs empowered by the TEF Foundation.
“Last year, we launched TEFConnect – the digital networking platform for African entrepreneurs and open to all – to further democratize the access to opportunities for the thousands of entrepreneurs that cannot directly benefit from our Entrepreneurship Programme. This further demonstrates our commitment to empowering our entrepreneurs and our belief that entrepreneurship holds the key to unleashing the true potential of the African continent.”
The TEF Foundation is supported by partners, including the International Committee of the Red Cross (ICRC), the United Nations Development Program (UNDP), the Federal Republic of Benin, the Anambra State Government, Indorama, the Government of Botswana, as well as the African Development Bank (AfDB).