Since 2015, the TEF Entrepreneurship Programme was the only African-funded entrepreneurial catalyst of its kind and has empowered 4,470 African entrepreneurs, with seed capital of $5,000 each, twelve weeks of accelerated online business training, access to experienced mentors and membership of Africa’s largest entrepreneurial ecosystem.
Beneficiaries of the Programme have been profiled in global media, including the Forbes [Africa] Under 30 list and they have attracted the attention of investors, as well as have been recipients of awards, including the Google Impact Challenge and the Chivas.
The Entrepreneurship Programme has facilitated exchanges between African entrepreneurs and local and global public sector leaders, investors and development partners, raising their business profiles, scaling their opportunities, showcasing their innovation and identifying ways to further strengthen the business environment in Africa.
In June 2018, the Foundation convened a forum with President Emmanuel Macron of France and young African entrepreneurs and in October 2018, the Foundation was proud to have President Nana Akufo-Addo of Ghana and President Uhuru Kenyatta of Kenya address the gathering of young African entrepreneurs at the TEF Entrepreneurship Forum.
The Foundation’s investment, impact and commitment to advancing entrepreneurship is predicated on the belief that Africa’s entrepreneurs hold the key to unlocking the potential of the continent and facilitating the transformation of Africa.
With the above objective, the Tony Elumelu Foundation launched the TEF Entrepreneurship Programme, using $100 million flagship programme to identify over a period of 10 years, 10,000 African start-ups and entrepreneurs, with ideas that have the potential to transform the African continent.
The goal of the Foundation is to invest in businesses that together can generate at least 1,000,000 new jobs and contribute at least $10 billion in new annual revenues across Africa.
The TEF Entrepreneurship Programme is open to citizens and legal residents of all African countries, who run businesses based in Africa that are less than three years old. Business ideas that are yet to launch are also encouraged.
Over twelve Sierra Leoneans have benefited from the Tony Elumelu Foundation and in 2017 the selected Sierra Leoneans and their business ideas included Abdulsalam Kamara, Manufacturing Bockarie Sama Banya, Commercial and Retail Bridgetta Audrey Modupeh Amoateng, Agriculture (Agri-business, Farming), Dominic Andrew Boima, Agriculture (Agri-business, Farming), Henry Orlando Joseph Tucker, Agriculture (Agri-business, Farming) and Martin Kailie, Energy and Power respectively.
In 2018, six Sierra Leoneans included Al-Imam Mustapha Sanusi, who engaged in agri-business farming; Fadja Djiou Barry, commercial and retail; Martin Kallie, energy/power generation; Mary Kadie Lokoh, agri-business farming; Mohamed Barrie, fashion; and Sahr Emmanuel Joseph, waste management were also selected respectively.