In his keynote address, Founder Tony Elumelu reiterated the Foundation’s commitment to eradicating poverty in Africa by empowering entrepreneurs. He emphasized entrepreneurship as a more sustainable development model compared to foreign aid.

Highlighting TEF’s Impact

Since its inception in 2010, TEF has empowered over 1.5 million young Africans through its digital platform, TEFConnect. The TEF Entrepreneurship Programme, launched in 2015, has directly funded over 20,000 African entrepreneurs with nearly $100 million. These entrepreneurs have created over 400,000 jobs across the continent.

Announcing the 2024 Beneficiaries

EY Partner, Damilola Aloba, presented the selection process and introduced the 1,104 beneficiaries chosen from 54 African countries. Each beneficiary will receive $5,000 in seed capital.

Celebrating a Shared Vision

Dr. Awele Elumelu, TEF co-founder, expressed her delight at the Foundation’s progress and urged the new cohort to leverage this opportunity to shape Africa’s future. A 2015 TEF beneficiary, Nkem Okocha, founder of Mama Moni, shared her experience and underscored the Foundation’s transformative impact.

The event served as a day of celebration, reflection, and recommitment to empowering African entrepreneurs for a more prosperous future.