The Tony Elumelu Foundation (TEF) said it has opened applications for the 2022 TEF Entrepreneurship Programme where African entrepreneurs from the 54 countries with business ideas or existing businesses under five years can apply for $5,000 seed capital.
They can also get mentorship, business management training and more on the 2022 edition of the programme, a statement from the foundation said.
Since 2015, the TEF Entrepreneurship Programme – the only African-funded entrepreneurship – has empowered 15,847 African entrepreneurs with a non-returnable seed capital of $5,000 each; 12 weeks of business management training; access to experienced mentors; and membership to Africa’s largest entrepreneurial ecosystem.
Last year, TEF disbursed $24.75 million to 5,000 African entrepreneurs across Africa for its 2021 edition of the programme.
A beneficiary of the programme in 2015 and founder of Afrik Abaya, Hauwa Liman, said: “I am always proud to say that I am from the inaugural cohort of the Tony Elumelu Foundation Entrepreneurship Programme.
“My business is located in Kaduna, in northern Nigeria. I benefited from this programme in 2015, and it opened up lots of doors and opportunities. It is not just about the seed capital, but what really fascinates me about the programme is the knowledge.”
She has grown her business and now employs 10 permanent staff and an additional eight staff on a commission basis.
In her comment, the CEO of TEF, Ifeyinwa Ugochukwu, said: “We are constantly blown away by the quality of businesses that come from Africa every year. This motivates us to scale our efforts to empower even more entrepreneurs on the continent.”
Founding Trustee of TEF, Dr Awele V. Elumelu stated: “Our hope is that, through the Tony Elumelu Foundation Entrepreneurship Programme, we would help the next business leader or captain of industry be who they are meant to be.”