The Tony Elumelu Foundation (TEF) has opened applications for the 2026 edition of its flagship entrepreneurship programme, positioning early-stage African businesses as a lever for job creation and private-sector growth. Project promoters from all 54 African countries can apply between 1 January and 1 March 2026 via the TEF Connect digital platform. The programme targets new and existing ventures across multiple sectors, focusing on translating entrepreneurial activity into measurable economic output.
The 2026 intake represents the foundation’s 12th cohort. Selected entrepreneurs will receive non-refundable seed capital of US$5,000 (around FCFA 3 million), alongside structured business training, personalised mentoring and access to a pan-African network of founders, investors and industry partners. According to the Tony Elumelu Foundation, the support package is designed to move small enterprises from idea stage to operational scale, strengthening business survival rates and local value chains.
TEF operates as a philanthropic organisation with an explicit economic mandate: poverty reduction through enterprise, job creation and inclusive growth. The foundation identifies the private sector as a primary driver of long-term development, particularly in economies where small and medium-sized enterprises account for the majority of employment. Since its launch in 2015, the programme has expanded its reach through a digital delivery model, allowing entrepreneurs in fragile and remote markets to participate.
Elumelu Reaffirms Investment-Led Model
At the launch of the 2026 edition, TEF founder Tony Elumelu reiterated the programme’s core principle, linking human capital investment to macro-economic outcomes. He said Africa’s “greatest wealth is its people” and stressed that the continent “does not need aid but investment, especially in its youth.” He further stated that empowered entrepreneurs generate jobs, stimulate growth, and transform communities. Elumelu is also chairman of Heirs Holdings, an Africa-focused investment group.
Economic Impact and Cameroon’s Share
TEF data show the scale of the programme’s economic footprint. As of its latest impact reporting, the foundation has funded more than 24,000 entrepreneurs and trained over 2.5 million people through its digital platforms, with women accounting for 46% of beneficiaries. The supported businesses have contributed to the creation of approximately 1.5 million direct and indirect jobs and generated an estimated US$4.2 billion in revenues across African markets since 2015. These figures are published by the Tony Elumelu Foundation in its annual impact reports and programme disclosures.
Cameroon remains a consistent participant in the initiative. In 2025, 56 Cameroonians were selected for the programme, bringing the total number of national beneficiaries to 866 over a ten-year period, according to TEF records. The beneficiaries operate in sectors including agribusiness, manufacturing, digital services and renewable energy, aligning with priority areas for economic diversification.
Mercy Fosoh
