The Tony Elumelu Foundation (TEF), will as from January 1, 2020 begin accepting applications for the 2020 cohort of its entrepreneurship programme.
In a statement from the foundation, the applications would be made to go through TEFConnect, the digital networking hub for the African entrepreneurship ecosystem, created by the foundation.
It said successful applicants would join the over 9,000 current beneficiaries from 54 African countries and receive business training, mentoring, a non-refundable $5,000 of seed capital and global networking opportunities.
“Last year, the foundation received about 216,000 applications, with 42 per cent coming from women entrepreneurs from every country on the continent,” it said.
Tony Elumelu Foundation is Africa’s leading philanthropy, dedicated to empowering the continent’s entrepreneurs. The programme is a 10-year, $100 million commitment to identify, train, mentor and fund 10,000 young African entrepreneurs.
The TEF Programme is open to entrepreneurs from across Africa either with new start-up ideas or existing businesses of less than three years existence, operating in any sector.
The goal is to create millions of jobs and the revenue required for the sustainable development of the continent, implementing the philosophy of Africapitalism which positions the private sector as the growth engine for Africa and emphasises the importance of creating social and economic wealth.