TEF unveils 3,200 entrepreneurs for 2026 programme

The Tony Elumelu Foundation (TEF) has selected 3,200 young entrepreneurs from across Africa for its 2026 Entrepreneurship Programme, reaffirming its commitment to driving inclusive economic growth on the continent.

Founder of the foundation, Tony Elumelu, said the initiative is designed to “democratise luck and prosperity,” stressing that entrepreneurship remains Africa’s most viable path to sustainable development.

From over 265,000 applications received, the beneficiaries will be funded in four cohorts throughout the year, reflecting what the foundation described as a structured approach to impact delivery.

Elumelu emphasised that the programme is rooted in responsibility rather than abundance. “What we do is not because we have so much, but because we see it as enlightened self-interest. Poverty is a threat to all of us. The more prosperity we spread, the better for everyone,” he said, urging young Africans to take ownership of the continent’s future.

He also commended President Bola Ahmed Tinubu for supporting small and medium-scale enterprises, noting, “Each time I interact with our President, I see his passion for young entrepreneurs. I encourage him to continue empowering us so we can do more.”

Co-Founder of TEF, Awele Elumelu, highlighted the scale of interest in the programme and called for greater collaboration. “We received over 265,000 applications, but only 3,200 could be selected. We call on partners to join us in supporting these entrepreneurs because the future of Africa is in their hands,” she said.

Chief Executive Officer of the foundation, Somachi Chris-Asoluka, described the unveiling as a celebration of innovation and resilience. “Today is not just an announcement; it is an affirmation of over 265,000 visions for a better future,” she said.

Since its launch in 2015, the foundation has disbursed over $100m to more than 24,000 entrepreneurs, creating about 1.5 million jobs and generating $4.2bn in revenue across Africa.

Stakeholders at the event noted that the programme continues to play a key role in tackling unemployment, reducing poverty and promoting innovation across the continent, as the new cohort begins its entrepreneurial journey.