The Tony Elumelu Foundation (TEF) has officially opened its digital portal for the latest cohort of the Tony Elumelu Entrepreneurship Programme (TEEP). This initiative represents a cornerstone of African private-sector development, offering a structured pathway for early-stage startups to move from ideation to sustainable operations through a combination of capital, education, and networking.
The program is the centerpiece of a $100 million, 10-year commitment by Nigerian philanthropist Tony Elumelu to identify, train, mentor, and fund 10,000 entrepreneurs across all 54 African nations.
The Program Roadmap: More Than Just a Check
Successful applicants undergo a rigorous transformation process designed to institutionalize their business models before capital is deployed. The program includes:
- Intensive Training: A 12-week online business management course focused on the fundamentals of scaling a business in the African context.
- Mentorship: Direct access to a world-class network of experienced professionals who provide localized guidance and strategic oversight.
- Seed Capital: A non-refundable $5,000 grant intended to help entrepreneurs prove their business concept and achieve early-stage milestones.
- The TEF Network: Lifetime access to “TEFConnect,” a massive digital hub of African entrepreneurs, investors, and corporate partners.
Selection and Deadlines
The foundation is seeking innovative, scalable business ideas that address local challenges.
- Application Deadline: March 1, 2026.
- Eligibility: Open to all African entrepreneurs over the age of 18, regardless of their sector.
- Future Opportunities: Beyond the initial $5,000, alumni of the program are frequently positioned for follow-on funding and global partnership opportunities.
The “Africapitalism” Philosophy
The program is rooted in Tony Elumelu’s philosophy of Africapitalism, which posits that the African private sector, and specifically its youth, must lead the continent’s economic transformation.
Tony Elumelu stated:
Africa’s greatest asset is our people. Africa does not need aid; Africa needs investment, in infrastructure, in institutions, but most critically in our young.
By focusing on “empowerment over charity,” TEF seeks to create a self-sustaining ecosystem where small businesses grow into large corporations that create jobs and drive regional wealth.
Since its inception, the program has produced thousands of success stories in sectors ranging from agriculture and healthcare to high-tech and renewable energy. For the 2026 cycle, there is an increased emphasis on digital transformation and green energy solutions, reflecting the global shift toward sustainable and tech-enabled development.
