Tony Elumelu Foundation Secures $6M Partnership to Empower 1,000 African Entrepreneurs

The Tony Elumelu Foundation (TEF) has signed a US$6 million partnership with the UAE’s Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation (an affiliate of Erth Zayed) to support 1,000 young African entrepreneurs. The initiative will provide business training, mentorship, networking opportunities, and a non-refundable US$5,000 seed capital to each participant.

Announced at the World Governments Summit, the agreement was signed by TEF Founder Tony Elumelu and Mohamed Haji Al Khoori, Director General of the Khalifa Bin Zayed Al Nahyan Foundation. This collaboration underscores a shared commitment to fostering entrepreneurship and economic empowerment across Africa.

TEF, a leading philanthropic organization, has pioneered entrepreneurship development across all 54 African countries. Meanwhile, the Khalifa Bin Zayed Al Nahyan Foundation focuses on humanitarian initiatives, including education, healthcare, and enterprise development.

By leveraging TEF’s expertise, this partnership aims to unlock Africa’s entrepreneurial potential, drive self-reliance, and promote inclusive growth.

“Eliminating poverty and fostering self-reliance starts with empowering entrepreneurs,” said Elumelu. “This partnership will create a ripple effect of economic transformation across Africa.”

TEF is currently accepting applications from African entrepreneurs with innovative ideas or businesses under five years old. The deadline to apply is March 1, 2025.