The Tony Elumelu Foundation (TEF) has sealed a $6 million partnership with the United Arab Emirates (UAE) Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation, reinforcing its mission to empower African entrepreneurs. This strategic collaboration will support 1,000 young African entrepreneurs with essential business training, mentorship, access to global networks, and a non-refundable $5,000 seed capital grant.
A Landmark Partnership for African Entrepreneurs
The agreement was formally signed at the World Governments Summit, with Tony Elumelu, Founder of TEF, and Mohamed Haji Al Khoori, Director General of the Khalifa Bin Zayed Al Nahyan Foundation, leading the discussions.
According to Moyo Awotile, Head of Marketing & Corporate Communications at TEF, this partnership highlights a shared vision to foster economic growth, job creation, and sustainable business development across Africa.
Tony Elumelu remarked:“Empowering entrepreneurs is not just a moral imperative but a strategic investment in Africa’s future. By providing access to capital, mentorship, and business resources, we are unlocking Africa’s entrepreneurial potential, driving economic self-sufficiency and reducing poverty.”
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Unlocking Africa’s Entrepreneurial Potential
TEF is currently accepting applications from young entrepreneurs across Africa who have innovative business ideas or existing businesses that are less than five years old. Selected participants will gain access to:
- Comprehensive Business Training
- Mentorship from Industry Experts
- Global Networking Opportunities
- $5,000 in Seed Funding
This initiative aligns with TEF’s mission to nurture the next generation of African business leaders, fostering long-term prosperity and economic transformation.
Driving Economic Growth and Job Creation in Africa
By leveraging TEF’s proven entrepreneurship development model, this partnership strengthens the foundation’s commitment to small business growth and innovation. It represents a major boost to Africa’s startup ecosystem, ensuring that young business owners can scale their ventures, create jobs, and contribute to economic development.
