In about a decade and a half, the Tony Elumelu Foundation (TEF) has lifted over 2. 1 million Africans out of poverty.
Our Founder, Tony O. Elumelu, CFR, and Co-Founder, Dr. Awele V. Elumelu, OFR, launched TEF in 2010 with a singular mission, to transform Africa through entrepreneurship.
TEF took a bold chance on African entrepreneurs and has committed millions of dollars in entrepreneurship seed funding to democratise access to wealth.
In 2015, TEF went on to make a bold $100 million commitment to empower Africa’s next generation of entrepreneurs with non-refundable seed capital, business training, mentorship, and access to powerful networks, through the flagship TEF Entrepreneurship Programme.
Today, the impact as contained in its 2024 annual report showed that TEF has:
21,000+ entrepreneurs funded across all 54 African countries
1.5 million jobs created
$4.2 billion in revenue generated
2.1 million Africans lifted out of poverty, through the TEF Entrepreneurship Programme
Gender parity achieved with 45% women beneficiaries
Green and creative entrepreneurship pioneered at scale
“We have built to last, and we have built for impact. These past years are the clearest evidence that Africapitalism works.” said Tony O. Elumelu, CFR.
