Tony Elumelu Foundation to Announce 12th Entrepreneurship Cohort Sunday
The Tony Elumelu Foundation (TEF) is set to announce the 12th cohort of its flagship Entrepreneurship Programme this Sunday, March 22, 2026, following a “record-shattering” surge in interest from across the continent.
The foundation confirmed in a statement on Friday that it received over 265,000 applications from entrepreneurs in all 54 African nations. This massive influx highlights a growing continent-wide focus on high-impact sectors, including Artificial Intelligence (AI), agriculture, and the green economy.
$16 Million Seed Capital for 3,200 Innovators
For the 2026 cycle, the foundation will deploy $16 million in seed funding to empower 3,200 selected entrepreneurs. Each beneficiary is set to receive:
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$5,000 in non-refundable seed capital.
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World-class business training via the TEFConnect platform.
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Mentorship and access to an elite networking circle.
The virtual unveiling ceremony is scheduled for 2:00 p.m. West African Time (WAT).
Strategic Partnerships and Transparency
The 2026 programme is being implemented through a formidable coalition of global partners, including:
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Heirs Holdings Group
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The European Commission
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IKEA Foundation
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UNICEF
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United Nations Development Programme (UNDP)
To ensure merit-based selection and transparency, the foundation noted that the entire process was independently audited by Ernst & Young (EY).
Driving Africa’s Economic Sovereignty
Since its inception, the TEF network has grown to include approximately 24,000 entrepreneurs. This group has collectively generated $4.2 billion in revenue and created roughly 1.5 million jobs across Africa.
“Empowering these local creators is the most sustainable path to Africa’s economic sovereignty,” said Founder Tony O. Elumelu, CFR, reiterating his commitment to local innovation as the primary engine for continental growth.
