TEF targets more than 3000 SMEs – Focuses in 2021 on women entrepreneurs

Press releases of Monday, January 4, 2021

Source: Tony Elumelu Foundation

01/04/2021

The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy dedicated to empowering African entrepreneurs, is opening applications on its TEFConnect digital platform (www.tefconnect.com) today, January 1, 2021.

This year’s intervention prioritizes the economic recovery of small and medium-sized enterprises (SMEs) and young African entrepreneurs, following the disruption of economic activities from Covid-19.

To address the unique challenges of the pandemic, lift millions of people out of poverty and create sustainable jobs across the continent, the Foundation’s entrepreneurship program will empower 1,000 young African entrepreneurs, selected from the 2020 cohort. will also open applications to 2,400 additional young entrepreneurs in 2021, in collaboration with global partners.

The Tony Elumelu Foundation, which celebrated ten years of impact in 2020, empowers a new generation of African entrepreneurs, through the TEF Entrepreneurship Program. Successful applicants receive world-class business training, mentorship, non-refundable start-up capital of up to $ 5,000 and global networking opportunities. The program is open to entrepreneurs from across Africa, whether they are new start-ups or existing start-ups, operating in all sectors.

Tony Elumelu Foundation CEO Ifeyinwa Ugochukwu said: “The Tony Elumelu Foundation demonstrates more than ever 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 proven Tony Elumelu Foundation program, we can execute the largest Covid-19 economic stimulus plan for African SMEs and break the cycle of poverty in Africa.

The Tony Elumelu Foundation’s $ 100 million entrepreneurship program, launched in 2015 to empower 10,000 entrepreneurs over 10 years, is now entering its 7th year and has so far empowered more than 9,000 young African entrepreneurs from 54 African countries.

Potential applicants should apply on the digital networking hub for African entrepreneurs, www.tefconnect.com.