The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy supporting young entrepreneurs, has secured a $6 million strategic partnership with the UAE Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation (an affiliate of Erth Zayed). Announced at the World Government Summit, this collaboration will provide business training, mentorship, access to networks, and $5,000 in non-refundable seed capital to 1,000 additional African entrepreneurs.
The agreement was signed by Tony O. Elumelu, TEF Founder, and His Excellency Mohamed Haji Al Khoori, Director General of the Khalifa Bin Zayed Al Nahyan Foundation, marking a significant step in strengthening economic and entrepreneurial ties between Africa and the UAE.
Why This $6 Million UAE Partnership Matters
- Since 2015, the TEF Entrepreneurship Programme has been at the forefront of empowering young African entrepreneurs by:
- Training over 2.5 million entrepreneurs via its digital platform, TEFConnect.
- Disbursing over $100 million in direct funding to 21,000 businesses.
- Creating over 1.5 million jobs, lifting 2 million people out of poverty.
With this new $6 million investment from the UAE, the program’s reach will expand further, enabling 1,000 more African entrepreneurs to access critical business support and funding.
The Khalifa Bin Zayed Al Nahyan Foundation, a leading UAE philanthropic organization, has a strong track record of supporting education, healthcare, economic empowerment, and enterprise development. By collaborating with TEF, the foundation is investing in Africa’s future, reinforcing the UAE’s commitment to global economic development and youth empowerment.
Tony Elumelu: “Entrepreneurship is the Key to Africa’s Future”
Speaking on the partnership, Tony Elumelu highlighted that investing in African entrepreneurs is a strategic move toward sustainable development:
“Empowering entrepreneurs is not just a moral imperative, but also a strategic investment in Africa’s future. By providing the necessary access to capital, mentorship, and resources, we are unlocking the potential of Africa’s entrepreneurial talent, eradicating poverty, driving self-reliance, and paving the way for inclusive growth and prosperity on the continent.”
This partnership is also a testament to the growing economic and diplomatic collaboration between Africa and the UAE, demonstrating how cross-continental investments can drive impactful change.
How to Apply for the TEF Entrepreneurship Programme
Applications are now open for the TEF Entrepreneurship Programme 2025, offering training, mentorship, and $5,000 in non-refundable seed capital.
Eligibility Criteria:
- Have a business idea or an existing business (not older than five years).
- Be based in Africa.
- Apply through TEFConnect, TEF’s digital entrepreneurship hub.
📅 Application Deadline: March 1, 2025
This $6 million UAE-backed investment provides a transformative opportunity for 1,000 African entrepreneurs, helping them scale their businesses and contribute to economic growth across the continent.
If you or someone you know has an innovative business idea, this is the moment to apply and take a bold step toward entrepreneurial success!
