Tony Elumelu Foundation To Unveil 2026 Cohort Of Entrepreneurship Programme On March 22

The Tony Elumelu Foundation (TEF) has announced plans to unveil the 12th cohort of its flagship Entrepreneurship Programme on Sunday, March 22, 2026.

The announcement follows an overwhelming response to this year’s call for applications, with more than 265,000 entries submitted by young entrepreneurs across all 54 African countries. The figures reflect both the dynamism of Africa’s entrepreneurial landscape and the persistent demand for early-stage funding.

For 2026, the Foundation will support 3,200 entrepreneurs through a mix of its core programme and strategic partnerships. Beneficiaries include 1,751 entrepreneurs backed by Heirs Holdings Group companies—Heirs Energies, Transcorp Power, Transcorp Hotels, and United Capital—alongside 1,049 entrepreneurs supported in collaboration with international partners such as the European Commission, OACPS, BMZ, and GIZ. Additional cohorts will be funded through partnerships with Sèmè City Development Agency, DEG, the IKEA Foundation, UNICEF’s Generation Unlimited, the Dutch Government, as well as UNDP and Rwanda’s Ministry of Youth and Arts.

Applicants this year were largely drawn from key sectors shaping the continent’s future, including agriculture, artificial intelligence, healthcare, and the green economy.

The selection process is being handled independently by Ernst & Young, ensuring a transparent and rigorous evaluation of submissions.

Successful entrepreneurs will receive a non-refundable seed grant of $5,000, alongside access to business training on TEFConnect, mentorship, and a network of investors and partners.

Since its inception, the Foundation has trained over 2.5 million young Africans through its digital platform and disbursed more than $100 million in seed capital to over 24,000 entrepreneurs. These businesses have collectively generated $4.2 billion in revenue and created more than 1.5 million jobs, while lifting over 2.1 million Africans out of poverty and impacting more than 4 million households. Notably, women account for 46 per cent of supported entrepreneurs.

Founder Tony O. Elumelu reaffirmed his belief in the power of entrepreneurship to transform the continent.

“The future of Africa will be shaped by Africans who build businesses, create jobs, and solve local challenges. At the Foundation, we remain convinced that empowering entrepreneurs is the most sustainable route to economic transformation,” he said.

He added that he looks forward to announcing and celebrating the 2026 cohort, whose ventures are expected to drive impact across the continent.

The Foundation has invited stakeholders and the public to join the announcement virtually.