Tony Elumelu Foundation to Announce 12th Entrepreneurship Cohort on March 22
In a landmark event highlighting Africa's growing economic empowerment, the Tony Elumelu Foundation (TEF) is poised to reveal the 12th cohort of its flagship Entrepreneurship Programme on Sunday, March 22, 2026. This announcement comes after an unprecedented wave of interest, with a record-breaking surge of over 265,000 applications submitted from across all 54 African nations.
Record Applications Signal Continental Hunger for Change
The massive influx of applications underscores a deep-seated, continent-wide desire for transformation, particularly in high-impact sectors such as artificial intelligence, agriculture, and the green economy. This overwhelming response reflects the aspirations of millions seeking to drive innovation and sustainable development across Africa.
Substantial Funding and Support for Entrepreneurs
This year, the Foundation's impact reaches new heights, mobilizing $16 million in seed capital to empower 3,200 visionary entrepreneurs. This effort is bolstered by a formidable coalition of partners, including Heirs Holdings Group, the European Commission, IKEA Foundation, UNICEF, and the UNDP. Each selected innovator will benefit from:
- $5,000 in non-refundable funding
- World-class business training through TEFConnect
- Elite mentorship programs designed to catalyze growth
Rigorous Selection and Proven Track Record
The selection process has been rigorously audited by Ernst & Young, ensuring transparency and fairness. The new beneficiaries will join a legendary alumni network of 24,000 entrepreneurs who have already generated $4.2 billion in revenue and created 1.5 million jobs across the continent.
Founder's Vision for Economic Sovereignty
As Founder Tony O. Elumelu, CFR, emphasizes, empowering local creators is the most sustainable path to Africa's economic sovereignty. He believes that investing in homegrown talent is key to fostering long-term prosperity and reducing dependency on external aid.
Virtual Announcement to Showcase New Leaders
The world is invited to witness this milestone during the virtual announcement at 2:00 p.m. WAT. This event will spotlight a new generation of entrepreneurs stepping forward to lead Africa's industrial and social revolution, marking a pivotal moment in the continent's economic narrative.
