Tony Elumelu Foundation to Open Applications for the 2020 TEF Entrepreneurship Programme on January 1, 2020


The TEF Entrepreneurship Programme is receptive entrepreneurs from across continent, either with new startup concepts or existing businesses of but three years existence, in operation in any sector. Successful candidates can be a part of the over 9,000 current beneficiaries, from fifty four African countries.

Tony Elumelu Foundation (TEF) — Africa’s leading financial aid dedicated to empowering African entrepreneurs — can begin acceptive applications for the 2020 cohort of the TEF Entrepreneurship Programme, on January 1, 2020.

 

 

Tony Elumelu Foundation (TEF) — Africa’s leading financial aid dedicated to empowering African entrepreneurs — can begin acceptive applications for the 2020 cohort of the TEF Entrepreneurship Programme, on January 1, 2020.

Applications are created through TEFConnect, the digital networking hub for the African entrepreneurship ecosystem, created by the Foundation.

The TEF Entrepreneurship Programme is accepting entrepreneurs from across Africa, either with new startup ideas or existing businesses of but 3 years existence, operative in any sector. Successful candidates are a locality of the over 9,000 current beneficiaries, from fifty four(54) African countries, and receive business coaching, mentoring, a non-refundable $5,000 of seed capital and international networking opportunities.

Last year, the foundation received up to 216,000 applications, with 42% coming from women entrepreneurs, from every country on the continent.

The Programme is a 10-year, $100 million commitment to identify, train, mentor and fund 10,000 young African entrepreneurs. The goal is to create many jobs and also the revenue needed for the property development of the continent, implementing the philosophy of Africapitalism, which positions the private sector as the growth engine for Africa and emphasises the importance of making social and economic wealth.

According to the Foundation’s 2018 Impact Report, 70% of the whole range of companies in its alumni network were still operational 2 years once benefitting from the Programme. The report conjointly known a rise of 189% revenue generated and 197% increase within the range of further jobs created by beneficiaries post-graduation from the Programme, as well as a 100% commitment to the Sustainable Development Goals.