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Reading: TEF Entrepreneurship 2020 programme opens for applications January 1

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TEF Entrepreneurship 2020 programme opens for applications January 1

Last updated: 2019/12/01 at 11:09 PM

starconnect Published 1 December 2019

Tony Elumelu Foundation to open portal for applications

Chairman Heirs Holdings, Mr. Tony Elumelu speaking at one of the TEF Entrepreneurship Programme

Admin l Sunday, December 01, 2019

LAGOS, Nigeria – The Tony Elumelu Foundation (TEF) — Africa’s leading philanthropy dedicated to empowering African entrepreneurs will begin accepting applications for the 2020 cohort of the TEF Entrepreneurship Programme, on January 1, 2020.

Empowering Young African Entrepreneurs — L-r: Prime Minister of Uganda, H.E. (Dr.) Ruhakana Rugunda; President of Democratic Republic of Congo, H.E. Felix Tshisekedi; President of Senegal, H.E. Macky Sall; The Founder, The Tony Elumelu Foundation, Mr. Tony Elumelu; Vice President of Nigeria, H.E. (Prof) Yemi Osibanjo; Wife of the Founder, The Tony Elumelu Foundation, Dr Awele Elumelu; President of Rwanda, H.E. Paul Kagame; Moderator and Host Fareed Zakaria GPS, CNN Presenter, Mr. Fareed Zakaria, during the Founder’s Presidential Dialogue held at the Tony Elumelu Foundation Entrepreneurship Forum 2019, the largest gathering of African entrepreneurs, held in Abuja on Saturday

Applications are made through TEFConnect, the digital networking hub for the African entrepreneurship ecosystem, created by the Foundation.

The TEF Entrepreneurship Programme is open to entrepreneurs from across Africa, either with new startup ideas or existing businesses of less than 3 years existence, operating in any sector.

Successful applicants will join the over 9,000 current beneficiaries, from 54 African countries, and receive business training, mentoring, a non-refundable $5,000 of seed capital and global networking opportunities.

Last year, the Foundation received about 216,000 applications, with 42% coming from women entrepreneurs, from every country on the continent.

The Programme is a 10-year, $100 million commitment to identify, train, mentor and fund 10,000 young African entrepreneurs.

The goal of the TEF Entrepreneurship Programmeis to create millions of jobs and the revenue required for the sustainable development of the continent, implementing the philosophy of Africapitalism, which positions the private sector as the growth engine for Africa and emphasises the importance of creating social and economic wealth.

According to the Foundation’s 2018 Impact Report, 70% of the total number of businesses in its alumni network were still operational two years after benefitting from the Programme.

The report also identified an increase of 189% revenue generated and 197% increase in the number of additional jobs created by beneficiaries post-graduation from the Programme, as well as a 100% commitment to the Sustainable Development Goals.