Thousand African entrepreneurs selected for $100M programme


The Tony Elumelu Foundation (TEF) has announced the selection of the first 1,000 African entrepreneurs for the Tony Elumelu Entrepreneurship Programme (TEEP).

A statement from the Foundation said over 20,000 African entrepreneurs from 52 countries applied to the programme.

“The selection of these 1000 entrepreneurs brings us closer to our ultimate goal – to drive Africa’s economic and social transformation from within and to radically intensify job creation in Africa, Founder Tony O. Elumelu said.

The top five countrie s in terms of numbers of winners are Nigeria, Kenya, Uganda, Ghana and South Africa. 

The Tony Elumelu Foundation appointed Accenture as an independent review consultant to thoroughly evaluate each application based on selection criteria approved by the TEEP Selection Committee. 

The 1,000 selected entrepreneurs will continue through the programme cycle over the next nine months. This cycle includes an intensive online training curriculum, mentoring, and participation in a two-day entrepreneurship boot-camp and the Elumelu Entrepreneurship Forum. 

The over 19,000 entrepreneurs who were not selected will be invited to join the Tony Elumelu Entrepreneurship Network where they will be able to further hone their entrepreneurial knowledge and skills.

TEEP is a $100 million initiative to discover and support 10,000 African entrepreneurs over the next decade, with a target of creating one million new jobs and $10 billion in additional revenues in the process.


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