The Tony Elumelu Foundation(TEF) has opened its portal for applications of the 2021 entrepreneurship programme effective January 1st to March 31st 2021.
TEF foundation which is focused on empowering talented and innovative African entrepreneurs with viable business ideas across the African continent.
According to a message from Tony on his Twitter handle, He calls on all African entrepreneurs to seize the opportunity to build the business of their dreams as successful applicants will join over 9,000 current beneficiaries from 54 African countries to receive a non-refundable $5,000 of seed capital, business training, mentoring and global networking opportunities.
This year’s entrepreneurship programme focuses on the economic recovery of small and medium-sized enterprises (SMEs) following the unusual challenges of the COVID-19 pandemic and to lift millions out of poverty and create sustainable employment across the continent.
TEF which celebrated its ten years of impact in 2020 will empower 1,000 young Africans selected from the 2020 cohort, and applications will be open to additional 2,400 young entrepreneurs in 2021.
The Chief Executive Officer, TEF, Ifeyinwa Ugochukwu added that “The Tony Elumelu Foundation, now more than ever, is demonstrating our commitment to unleashing the potential of young African entrepreneurs, the key to Africa’s long-term economic transformation.
“The pandemic has created challenges across the continent, but we know that with the Tony Elumelu Foundation’s tried and tested programme, we can execute the largest COVID-19 economic recovery plan for African SMEs and break the cycle of poverty in Africa.”
The TEF’s $100 million entrepreneurship programme, launched in 2015 to empower 10,000 entrepreneurs over 10 years, is now entering its seventh year and has empowered over 9,000 young entrepreneurs from 54 African countries.
