“TEF’s Africapitalism Initiative Empowers 1.5 Million Entrepreneurs Across Africa”

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Since its inception in 2015, The Tony Elumelu Foundation (TEF) has been at the forefront of empowering young African entrepreneurs from all 54 African countries. Through its flagship TEF Entrepreneurship Programme, the foundation has provided support to 1.5 million young Africans, offering them access to invaluable training resources available on its digital hub, TEFConnect.


With a commitment to fostering entrepreneurship as a key driver of social and economic development across the continent, TEF has disbursed over USD$100 million in direct funding to over 19,000 African women and men. These entrepreneurs, empowered by TEF’s resources and support, have collectively generated over 400,000 direct and indirect job opportunities, contributing significantly to the growth and prosperity of their communities.


Central to TEF’s mission is the concept of Africapitalism, championed by its founder Tony Elumelu. Africapitalism advocates for leveraging the dynamism of the private sector and the entrepreneurial spirit of Africans to drive sustainable development and create shared prosperity. By investing in and empowering entrepreneurs, TEF is not only fostering economic growth but also nurturing a new generation of leaders who are committed to driving positive change across the African continent.


Through its comprehensive approach to entrepreneurship development, TEF is not only providing financial support but also equipping entrepreneurs with the skills, knowledge, and networks they need to succeed in today’s competitive business landscape. By harnessing the power of technology through platforms like TEFConnect, the foundation is breaking down barriers to access and empowering aspiring entrepreneurs from diverse backgrounds to realize their full potential.


As TEF continues to expand its reach and impact, its commitment to empowering African entrepreneurs remains unwavering. With each success story and each new business launched, TEF is proving that entrepreneurship is not only a pathway to individual prosperity but also a catalyst for transforming communities and driving sustainable development across the African continent.

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