Apply! Nigerian billionaire to open entrepreneurship programme

• On Saturday, March 22, 2025, the Tony Elumelu Foundation (TEF) volition unveil the 11th batch of its Entrepreneurship Program
• This year’s announcement comes amid challenges astir fiscal constraints and planetary economical headwinds
• The catalytic TEF Entrepreneurship Program is changing lives and shaping Africa's future, arsenic the program's beneficiaries confirm

Legit.ng writer Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

The 11th cohort of the Tony Elumelu Foundation's (TEF) Entrepreneurship Program volition beryllium announced connected Saturday, March 22, 2025. TEF is Africa's premier charitable enactment that empowers businesses.

TEF has persisted successful offering much-needed assistance, enabling African concern owners to crook their concepts into viable ventures. Photo Credit: Tony Elumelu Foundation
Source: Instagram

The announcement for 2025 comes astatine a important moment, arsenic planetary economical headwinds and fiscal limitations face Africa's entrepreneurship environment.

Tony Elumelu Entrepreneurs person collectively created astir 1.5 cardinal jobs and generated $4.2 cardinal successful revenue, portion implicit 2 cardinal Africans person been lifted retired of poverty, Daily Sun reported.

TEF has continued to supply much-needed support, empowering African entrepreneurs to alteration their ideas into sustainable businesses and engines of economic growth.

A $5,000 non-refundable startup grant, top-notch concern grooming connected TEFConnect, one-on-one mentoring, and entree to planetary networks and concern opportunities are each provided to each chosen Tony Elumelu entrepreneur.

Ernst & Young volition beryllium conducting the enactment process successful bid to warrant impartial evaluation.

The Tony Elumelu Foundation's power goes beyond conscionable providing funds. The recipients of the catalytic TEF Entrepreneurship Program attest to the information that it is transforming lives and influencing Africa's destiny.

Tony O. Elumelu, the laminitis of TEF and radical president of Heirs Holdings, affirms his steadfast religion successful the imaginable of African businesspeople up of the impending announcement.

“I judge that Africa’s translation volition not beryllium led by aid, but by empowering the adjacent procreation of African entrepreneurs—giving them the tools, the funding, the training, and the networks to physique sustainable businesses that make jobs and thrust economical growth.“Over the past decade, we person nurtured entrepreneurs from inception to success, scaling our interaction crossed each 54 African countries.“We person provided superior and besides developed a robust monitoring and valuation model that allows america to way the advancement of our entrepreneurs and measurement their contributions to their communities and economies,” Elumelu said.

Tony Elumelu stated that entrepreneurship is indispensable to the continent's prosperity. Photo Credit: Contributor
Source: Getty Images

He besides pointed retired that nary different organisation is implementing entrepreneurship improvement astatine this standard crossed Africa, emphasising that “We person learned, we person refined, and we proceed to improve, ensuring that African entrepreneurs—women and men—are astatine the forefront of solving our continent’s challenges and creating wealthiness for themselves and their communities.”

In summation to wishing the 2025 cohort luck, the apical African philanthropist pointed retired that the continent's prosperity depends connected entrepreneurship.

Nigerian billionaire Tony Elumelu shares wherefore helium diversified

Legit.ng reported that Nigerian billionaire, and president of the United Bank for Africa (UBA) Group Tony Elumelu, has shared his reasons for diversifying into the lipid and state sector.

Elumelu shared this astatine the Legacy Builders Palm Beach Conference held successful Florida, United States, connected the theme: “Democratising Luck”.

He observed that Africa is simply a continent of opportunity, and Nigeria has immense resources to plug into this accidental but powerfulness remains a situation to beryllium surmounted.

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Source: Legit.ng