The Tony Elumelu Foundation (TEF) has entered a $6 million partnership with the United Arab Emirates Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation (an affiliate of Erth Zayed) to provide business training, mentorship, networking opportunities, and $5,000 in non-refundable seed capital to 1,000 additional young African entrepreneurs.
In a statement released recently by TEF’s Head of Marketing & Corporate Communications, Moyo Awotile, the agreement underscores the partners’ shared commitment to driving economic empowerment and entrepreneurship across Africa.
The partnership was formalized at the World Governments Summit, with TEF Founder Tony Elumelu and Khalifa Bin Zayed Al Nahyan Foundation Director General Mohamed Haji Al Khoori signing the agreement.
TEF is a philanthropic organization dedicated to empowering young entrepreneurs across all 54 African countries, while the Khalifa Bin Zayed Al Nahyan Foundation focuses on humanitarian and developmental initiatives, including education, healthcare, economic empowerment, and enterprise development.
According to the statement, the Khalifa Bin Zayed Al Nahyan Foundation will leverage TEF’s expertise in fostering entrepreneurship through the Tony Elumelu Entrepreneurship Programme, which has been instrumental in providing business management training, mentorship, and capital funding for African entrepreneurs.
“Empowering entrepreneurs is not just a moral duty but a strategic investment in Africa’s future. By ensuring access to capital, mentorship, and resources, we are unlocking the continent’s entrepreneurial potential, reducing poverty, fostering self-reliance, and driving inclusive growth,” Elumelu stated.
The Tony Elumelu Foundation is currently accepting applications from African entrepreneurs with innovative business ideas or existing businesses not older than five years. Successful applicants will receive training, mentorship, networking opportunities, and funding.
The application deadline is March 1, 2025.
