The African business mogul tony elumelu and the Africapitalism idea was his quest to develop the continent through empowerment of young entrepreneurs in the African continent through empowering them to boost Africa economy .
The Africapitalism idea was borne with the idea of empowering about 10,000 young entrepreneurs with 0ne hundred million dollars seed capital for the period of ten years .
However the idea has yielded discoveries of talents in the continent where the tony elumelu foundation battles with thousand and thousand of application yearly in picking about one thousand entrepreneurs yearly for the five thousand dollars seed capital
Similarly the foundation has extended it empowerment gestures to 54 Africa countries.
The foundation has in no small measures also incorporated journalists to ensure wider coverage of the foundation by introducing the Africa journalism fellowship to the programme in 2017 where journos from about 54 Africa countries gathered to covered the yearly event.

This years selection took another dimension has

Tony Elumelu Foundation directly funds 1,000 entrepreneurs and an additional 2,050 beneficiaries supported by Foundation’s partners

With the announcement of the selected entreprenurs ,TEF Entrepreneurship Forum,Africa’s largest entrepreneurship convening will be held on July 26-27 in

This year, over 216,000 applications were received, an increase from last year’s 151,000. Nearly 90,000 were submitted by female entrepreneurs, an increase of 45%, illustrating the Foundation’s strategy to achieve greater gender balance.

The selected Entrepreneurs will receive non- refundable $5,000 of seed capital, access to mentors, and a 12-week business training programme, directly focused on the needs of African entrepreneurs.

TEF Founder, Tony O. Elumelu, CON, said: “Every year, we face an almost impossible task – to select 1,000 entrepreneurs, from the hundreds of thousands that apply. Our entrepreneurs are hungry to effect change. We know we are only scratching the surface, we see the depth of entrepreneurial talent, that all of us – government, business indeed African society, must harness to transform our economies and livelihoods.

In her speech at this year’s event which feature the wife of the president , Mrs. Aisha Buhari, the wife of the President, commended the Programme’s impact on the continent, charging the selected entrepreneurs to contribute to the advancement of the African continent.
“Indeed, I am confident that these Tony Elumelu entrepreneurs will inspire deep confidence and be of immense value not just to Nigeria but to the entire continent,” she said.

Speaking on the announcement,
the incoming CEO, Ifeyinwa Ugochukwu, said, “The Tony Elumelu Foundation Entrepreneurship Programme has successfully empowered 7,520 entrepreneurs in its first five years of the 10- year programme.
Marking the fifth anniversary of the 10-year programme, this year’s selection includes 2,050 entrepreneurs, supported by the Foundation’s partners in addition to the Foundation’s annual commitment of 1,000, bringing the total number of entrepreneurs empowered by the Foundation to date to 7,520.

Last year, we launched TEFConnect – the digital networking platform for African entrepreneurs and open to all – to further democratise the access to opportunities for the thousands of entrepreneurs that cannot directly benefit from our Entrepreneurship Programme. This further demonstrates our commitment to empowering our entrepreneurs and our belief that entrepreneurship holds the key to unleashing the true potential of the African continent”, she said.

The Foundation’s growing list of partners includes the International Committee of the Red Cross (ICRC), the United Nations Development Programme (UNDP), the Federal Republic of Benin (Seme City), the Anambra State Government, Indorama, the Government of Botswana and the African Development Bank (AfDB).
For a list of the selected 2018 Tony Elumelu Entrepreneurs and information on our applicants, please visit tefconnect.com. OLUFISOYE ADENITAN.

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