The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy dedicated to empowering African entrepreneurs, has disclosed that it would close applications for the Tony Elumelu Entrepreneurship Programme on its TEFConnect digital platform (www.tefconnect.com) on March 31.
The Tony Elumelu Foundation announced this in a statement made available to NPOreports Tuesday.
"There might be somebody out there with an idea or two that needs support, in a bid to take flight.
"Kindly spread the word so someone’s dream could become a reality," it said.
The application is open to all African entrepreneurs with business ideas from across all 54 African countries.
In the statement, the foundation said that this year’s intervention prioritises the economic recovery of small and medium scale enterprises (SMEs) and young African entrepreneurs, following the COVID-19 disruption to economic activities.
It also stated that the foundation would empower over 3,500 young African entrepreneurs, added that the entrepreneurs programme was aimed at rebuilding the loss the pandemic has caused individual and lifting millions out of poverty.
The Tony Elumelu Foundation, which celebrated ten years of an impact last year is empowering a new generation of African entrepreneurs, through the TEF Entrepreneurship Programme.
The foundation would disburse non-refundable seed capital up to $5,000, added that successful applicants would as well receive world-class business training, mentorship, and global networking opportunities.
According to the Director of Partnerships & Communications at the Tony Elumelu Foundation, Somachi Chris-Asoluka, “Africa’s growing, and active youth population must take advantage of this opportunity and apply for the programme before the 31st of March, as their full participation will create a pathway to economic prosperity. This year, we have the capacity to empower more African entrepreneurs than ever, further ensuring that they have adequate training, funding and mentorship to boost their performance. It is time for young African entrepreneurs to embrace this much-needed support system to enable thriving and sustainable economic activity. We believe we will continue to see exponential change in sectors across the continent.”
The Tony Elumelu Foundation’s $100million Entrepreneurship Programme, launched in 2015 to empower 10,000 entrepreneurs over 10 years, is now entering its 7th year and has empowered to date, over 9,000 young African entrepreneurs from 54 African countries.
The Tony Elumelu Foundation, however, advised Prospective applicants to apply on the digital networking hub for African entrepreneurs before the deadline.