This archive report was first published on 13 January 2020.
On January 13, 2020, the Tony Elumelu Foundation announced the opening of its application portal for African entrepreneurs, offering a chance to apply for mentorship and seed capital opportunities.
Run by Nigerian philanthropist Tony Elumelu, the foundation has a 10-year commitment to identify, train, mentor, and fund 10,000 African entrepreneurs by 2024, with a $100 million investment.
Selected entrepreneurs will receive a 12-week online training on managing enterprises, mentorship on transforming business at its early stages, a seed capital of Sh500,000 ($5,000), and networking opportunities.
Applicants must be above 18 years, operate businesses between idea stage and three years, have enterprises that are for profit and based in Africa.
Since its establishment in 2015, the TEF has supported more than 200 entrepreneurs in Kenya.
According to Ifeyinwa Ugochukwu, the TEF chief executive, "The transformation of Africa begins with empowering our young African entrepreneurs."
The programme is part of TEF's plan to empower 10,000 entrepreneurs in 10 years, with the goal of creating millions of jobs and new revenue on the continent.
