TEF targets more than 3,000 SMEs: focusing on women entrepreneurs in 2021

Press releases for Monday, January 4, 2021

Source: Tony Elumelu Foundation

2021-01-04

The Tony Elumelu Foundation (TEF), Africa’s leading philanthropic organization dedicated to empowering African entrepreneurs, opens applications on its TEFConnect digital platform (www.tefconnect.com) today, January 1, 2021.

This year’s intervention prioritizes the economic recovery of small and medium-sized enterprises (SMEs) and young African entrepreneurs, following the disruption of Covid-19 in economic activities.

To address the unique challenges arising from the pandemic, lifting millions out of poverty and creating sustainable employment across the continent, the Foundation’s Entrepreneurship Program will empower 1,000 young African entrepreneurs, selected from the 2020 cohort. The Foundation will also will open applications to 2,400 additional young entrepreneurs in 2021, in collaboration with global partners.

The Tony Elumelu Foundation, which celebrated ten years of impact in 2020, is empowering a new generation of African entrepreneurs, through the TEF Entrepreneurship Program. Successful applicants receive world-class business training, mentorship, non-refundable start-up capital of up to $ 5,000, and global networking opportunities. The program is open to entrepreneurs from all over Africa, both new start-ups and existing young companies, operating in any sector.

Tony Elumelu Foundation Executive Director Ifeyinwa Ugochukwu stated: “The Tony Elumelu Foundation is now more than ever demonstrating our commitment to unleashing the potential of young African entrepreneurs, the key to Africa’s long-term economic transformation. The pandemic has created challenges across the continent, but we know that with the Tony Elumelu Foundation’s proven program, we can execute the largest Covid-19 economic recovery plan for African SMEs and break the cycle of poverty in Africa. “

The Tony Elumelu Foundation’s $ 100 million Entrepreneurship Program, launched in 2015 to empower 10,000 entrepreneurs over 10 years, is now entering its seventh year and has empowered more than 9,000 young African entrepreneurs from 54 African countries to date. .

Prospective applicants should apply at the Digital Networking Center for African Entrepreneurs, www.tefconnect.com.