The Tony Elumelu Foundation Entrepreneurship Programme has announced the commencement of its 10th cohort. Representing over 50 business sectors ranging from farming to technology, this milestone embraces entrepreneurs from all 54 African countries.
With the selection of this new cohort, the Foundation celebrates a significant achievement, having supported a total of 20,000 entrepreneurs, doubling its initial target. Directly disbursing US$100,000,000, the Tony Elumelu Foundation has facilitated the creation of over 400,000 direct and indirect jobs, thereby contributing substantially to Africa’s economic growth and development. Notably, 45% of the beneficiaries are women, underscoring the Foundation’s commitment to gender inclusion.
Among the notable entrepreneurs from past cohorts is Stella Sigana, founder of Alternative Waste Technologies in Kenya, who has created 12 jobs and generated over $79,000 in revenue by producing fuel briquettes while addressing social issues. Additionally, Vital Sounouvou from Benin established Exportunity, an e-commerce platform connecting African producers with traders, employing 32 individuals and engaging over 750 clients. Nora Chaynane from Morocco founded Shine Space, an initiative that has upskilled and capacitated over 2,500 young Moroccans, guiding them toward fulfilling careers.
Since its establishment in 2010, the Tony Elumelu Foundation has adopted an innovative approach to support and connect young entrepreneurs across Africa. Rooted in the philosophy of Africapitalism, championed by its founder Tony O. Elumelu, the Foundation aims to democratize opportunities for entrepreneurs across all sectors.
According to the Tony Elumelu Foundation: “Our entrepreneurs represent the driving force behind Africa’s economic transformation, and their resilience, determination, and innovation continue to inspire us all”
Its partnerships with various organizations including the European Union, UNDP, and Google have enabled tailored programs addressing areas such as female empowerment and economic growth in fragile states.
Looking ahead, the Tony Elumelu Foundation remains committed to supporting young Africans through ongoing initiatives such as the Women Entrepreneurship For Africa (WE4A) and the Aguka Entrepreneurship Programme. These programs offer training, mentorship, networking opportunities, and funding to aspiring entrepreneurs across the continent.
