Tony Elumelu Foundation to Support 3,200 African SMEs with Over $16 Million
The Tony Elumelu Foundation (TEF) has announced plans to disburse over $16 million to support 3,200 young entrepreneurs across Africa in 2026.
The foundation said the initiative will reach beneficiaries in all 54 African countries as it continues to expand partnerships and scale up its flagship entrepreneurship programme.
According to TEF, the funding forms part of its ongoing commitment to empowering small and medium-sized enterprises (SMEs), promoting innovation, and driving economic growth across the continent.
Selected entrepreneurs will receive not only financial support but also business training, mentorship, and access to valuable networks to help grow and sustain their ventures.
The foundation added that the expansion aligns with its broader goal of creating lasting opportunities for young Africans and strengthening the continent’s entrepreneurial ecosystem.
Interested applicants can apply via the official TEF portal: https://tefconnect.net/
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