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The Tony Elumelu Foundation (TEF) has reportedly signed a US$6 million strategic partnership with the UAE’s Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation to support young African entrepreneurs through business training, mentorship, networking opportunities, and non-refundable US$5,000 seed capital.
The initiative is expected to benefit some 1,000 young entrepreneurs across Africa.
Last year, 35 Zambian entrepreneurs reportedly received a total of US$175,000 under the programme—the highest amount allocated to Zambia since the grant’s inception.
The application period ran from January to March 2025.
The agreement was signed during the World Governments Summit by TEF founder, Tony Elumelu and Khalifa Bin Zayed Al Nahyan, Foundation Director General Mohamed Haji Al Khoori.
“Through this partnership, the Khalifa Bin Zayed Al Nahyan Foundation will leverage the Tony Elumelu Foundation’s expertise and execution ability in catalysing entrepreneurship through the Tony Elumelu Entrepreneurship Programme, which has pioneered business management training, mentorship, and capital funding for African entrepreneurs,” a joint statement read.
The statement added that the Khalifa Bin Zayed Al Nahyan Foundation, affiliated with Erth Zayed, has a longstanding commitment to humanitarian and development projects focused on education, healthcare, economic empowerment, and enterprise development.
Elumelu claimed that the partnership was a strategic investment in Africa’s future.
“Empowering entrepreneurs is not just a moral imperative but a strategic investment. By providing access to capital, mentorship, and resources, we unlock the potential of Africa’s entrepreneurial talent, eradicate poverty, drive self-reliance, and pave the way for inclusive growth and prosperity,” he said.
Haji Al Khoori claimed the foundation’s mission was to foster impactful partnerships that drive humanitarian and developmental progress.
“Supporting young African entrepreneurs aligns with our goal of strengthening economies and building sustainable businesses that uplift communities,” he said.
Since launching the TEF Entrepreneurship Programme in 2015, the Tony Elumelu Foundation has reportedly provided training to 2.5 million young Africans through its digital hub, TEFConnect, and disbursed over US$100 million in direct funding to more than 21,000 entrepreneurs.
These businesses have reportedly created over 1.5 million direct and indirect jobs, lifting two million Africans out of poverty.
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