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Over a decade ago, the Tony Elumelu Foundation (TEF — pronounced "Tee-Ee-Ef") took a bold chance on African entrepreneurs. A decade and a half later, the results speak for themselves.
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.
In 2015, they 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 is undeniable:
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." ~ Tony O. Elumelu, CFR
Click here to read our 2024 Annual Report, and see how our entrepreneurs are transforming Africa, one business at a time.
Explore our entire Annual Report collection to see more stories and numbers behind the movement.
