The Tony Elumelu Foundation (TEF) has revealed the names of 3,200 entrepreneurs selected for its 2026 Entrepreneurship Programme, reinforcing its mission to empower young African business leaders and drive inclusive economic growth across the continent. Since its inception in 2015, TEF has disbursed over $100 million to more than 24,000 entrepreneurs, creating 1.5 million jobs and generating $4.2 billion in revenue.
Speaking at the official unveiling, Tony Elumelu, founder of the Foundation, described the initiative as a deliberate effort to “democratise luck and prosperity,” noting that entrepreneurship remains the most viable path to sustainable development in Africa. Out of more than 265,000 applications, the 2026 beneficiaries will be supported in four cohorts: 1,951 in March, 100 in May, 100 in August, and 1,049 in November.
The programme is driven by a sense of societal responsibility rather than surplus wealth. Elumelu emphasised that spreading prosperity is a collective benefit: “Poverty is a threat to all of us. The more prosperity we create, the better for everyone.” He urged young entrepreneurs to take ownership of Africa’s future, adding that government support is key to enabling small and medium enterprises (SMEs) to thrive.
Awele Elumelu, TEF co-founder, highlighted the need for broad collaboration to amplify impact, while Somachi Chris-Asoluka, TEF CEO, described the selection as a celebration of over 265,000 visions for a better Africa. International and corporate partners, including the European Union and UNICEF, commended TEF’s long-term commitment to entrepreneurship development, with emphasis on supporting women-led ventures.
Beneficiaries shared success stories demonstrating tangible growth. Nigerian entrepreneur Aisha Samira Abdullahi reported a 200 per cent business growth generating $40,000 annually while training young women in fashion. South African entrepreneur Kemiso Motholo cited impact on over 20,000 people and increased funding, while Kenyan agribusiness owner Aisha Langat disclosed revenue exceeding $500,000 and support for 12,000 smallholder farmers.
Since its launch, the TEF Entrepreneurship Programme has become one of Africa’s leading philanthropic initiatives for young entrepreneurs, addressing unemployment, fostering innovation, and reducing poverty. Elumelu concluded: “Your success will make the difference. The future of Africa is in your hands.”
