How to Apply for Tony Elumelu Foundation Entrepreneurship Programme 2023

Tony Elumelu Foundation Entrepreneurship is a program established to empower youths in 54 countries in Africa on a yearly bases.

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The objective of the program is to implement the Africapitalism philosophy, which sees the private sector as the growth engine for Africa and emphasizes the significance of creating social and economic wealth, to generate millions of jobs and the necessary revenue for the sustainable development of the continent.

The Applications for the 2023 TEF Entrepreneurship Programme are now available on the Foundation website, according to the Tony Elumelu Foundation (TEF), the foremost foundation promoting young African entrepreneurs throughout all 54 African countries.

Applying for the 2023 Tony Elumelu Foundation Entrepreneurship Program is encouraged for African entrepreneurs with new ventures or established companies that haven’t been around for more than five years. Selected applicants will receive $5,000 in seed money, mentorship, business management training, and other benefits.

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Since its inception in 2015, the TEF Entrepreneurship Programme has given 15,847 African entrepreneurs access to Africa’s largest entrepreneurial ecosystem, non-returnable seed funding of $5,000 each, twelve weeks of business management training, and mentorship.

The Tony Elumelu Foundation’s 2021 Entrepreneurship Programme awarded 5000 African businesses USD$24.75 million throughout Africa in 2021. With the repercussions of the COVID-19 pandemic spreading throughout Africa, the Foundation’s Entrepreneurship Programme continues to be one of the major private sector solutions to fostering the economic recovery of African youth, women, and SMEs.

Beneficiaries of the Tony Elumelu Foundation Entrepreneurship Program are launching and expanding ground-breaking companies all over Africa that have collectively produced over 400,000 direct and indirect jobs.

Benefits of the Program

There are many things to be a successful Applicant aside from the Non- refundable $5,000, here are other things that beneficiaries gain in the program.

12 weeks of top-notch business training
Access to the TEF Alumni network, which includes over 15,000 African entrepreneurs
Networking and mentoring possibilities through Africa’s largest digital platform for entrepreneurs,
A non-refundable $5,000 start-up loan

All Africans operating enterprises in Africa who are 18 years of age or older and who are not regarded as minors in their country of residence are eligible for the program.

Applicants must be able to work legally in the African nation where their company is based.
To apply for the Programme, candidates must register for an account on the TEF Hub and fill out an online entry form.
The planned firm must be based in Africa, and the applicants must be citizens of one of the 54 nations that make up the continent.
Within the first three years of operations, all enterprises must be Business Ideas or early-stage registered entities.
Business Ideas submitted must be profitable, specific to one industry, and the submitter’s original creation.

The registration and account opening is in progress at TEFConnect, the digital networking center for the African entrepreneurship ecosystem that the Foundation built, where applications are accepted.

The deadline for account opening and registration is March 31, 2023.