Tony Elumelu Foundation says it has supported more than 27,000 entrepreneurs in Africa — Premium Times Nigeria
In Nigeria, the Tony Elumelu Foundation (TEF) said that since launching its flagship programme in 2015, it has supported more than 27,000 young entrepreneurs in 54 African countries. According to Premium Times Nigeria, the programme provides training, mentoring and seed capital for business development.
Programme indicators
TEF says that more than 2.5 million Africans have gained access to business management training through the TEFConnect platform. Selected programme participants have collectively received more than $100 million in seed capital.
According to the foundation’s latest data, the supported businesses have collectively generated more than $4.2 billion in revenue and created over 1.5 million direct and indirect jobs. TEF also reports that its programme has helped more than 2.1 million people move out of poverty and has positively affected more than four million African households.
In 2026, the foundation received more than 265,000 applications from young Africans and selected 3,200 participants, 51% of whom were women. At the start of the programme, one thousand participants received support.
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Small business example
The author of the publication, Ehi Braimah, who was a programme mentor, told the story of Theresa, a 23-year-old Nigerian entrepreneur who produces liquid soap called Boom Liquid Wash. In January 2026, she received a $5,000 grant from TEF, as well as access to a training programme and mentoring.
According to Braimah, before receiving the grant, the entrepreneur could not fulfil some orders due to limited production capacity. With the grant funds, she purchased basic equipment, and her customer base expanded from students and lecturers to restaurants, office owners, other companies and individual consumers.
The entrepreneur also reported that the cost of chemical components for production had risen by more than 60%. She plans to develop Boom Liquid Wash into a company that meets international standards, gain internship experience at other companies and study in an MBA programme.
