Transcorp Invests $2 Million in Nigerian and Niger Delta Entrepreneurs via TEF Partnership
Transnational Corporation Plc, known as Transcorp Group, has significantly expanded its strategic collaboration with the Tony Elumelu Foundation (TEF) as the foundation unveiled 3,200 beneficiaries for its 2026 Entrepreneurship Programme. Each selected participant will receive a substantial $5,000 in seed funding to establish and scale businesses across the African continent.
Substantial Investment and Entrepreneurial Support
In this year's edition, Transcorp Group sponsored an impressive 625 entrepreneurs, bringing the total number supported under this impactful partnership to 1,250. Since the initiative's inception, the corporation has invested more than $2 million directly into these entrepreneurial ventures, demonstrating a robust commitment to fostering economic growth.
Founder of TEF, Tony O. Elumelu, CFR, emphasized that the programme reflects a deep-seated commitment to building Africa through entrepreneurship. "The future of Africa will be built by Africans who create businesses, generate jobs and solve the challenges of our continent. Empowering entrepreneurs remains the most sustainable path to economic transformation," he stated.
Focus on Host Communities and Socio-Economic Impact
President and Group Chief Executive Officer of Transcorp Group, Owen D. Omogiafo, OON, highlighted that the company's investment underscores its strategic focus on host communities, particularly in Delta State, where its power subsidiary operates. She explained that supporting 625 entrepreneurs in a single year was an intentional and deliberate effort.
"Enabling individuals to create value helps address broader socio-economic challenges," she added, noting that the partnership has now reached 1,250 entrepreneurs with approximately $2 million in funding. This initiative places a strong emphasis on host communities in the Niger Delta region, where Transcorp Power Plc in Ughelli and Trans Afam Power Limited in Rivers State are operational.
Regional Distribution and Corporate Commitment
Of the total beneficiaries, more than 430 are from Niger Delta states, including:
- Delta
- Rivers
- Abia
- Akwa Ibom
- Bayelsa
- Cross River
- Edo
- Imo
- Ondo
In Delta State alone, 254 entrepreneurs have been supported, with 240 funded specifically in 2026. Transcorp Group stated that its involvement in the programme reflects its role as a corporate organisation with a clearly stated purpose. The company boasts a combined market capitalisation of about ₦5 trillion across its listed subsidiaries and serves more than 300,000 shareholders.
