Tony Elumelu Reflects on a Decade of Empowerment as TEF Unveils 11th Cohort

This milestone marks 15 years since the Foundation’s inception and a decade since the launch of its flagship initiative, which has now empowered over 24,000 young Africans—far surpassing its original goal.

The journey began in 2010, when Elumelu and his wife, Dr. Awele Elumelu, envisioned a self-sustaining Africa driven by the creativity, resilience, and ambition of its youth. “As an entrepreneur, I knew the opportunities that Africa offers and the transformative power of entrepreneurship,” Elumelu shared in a recent reflection. “As an African, I was keenly aware of the challenges facing our next generation, their resilience, and their ambition.” That vision led to the creation of the Tony Elumelu Foundation (@TonyElumeluFDN), a platform dedicated to catalyzing Africa’s next generation of leaders.

The Foundation’s mission crystallized in 2015 with the launch of the TEF Entrepreneurship Programme, backed by a $100 million commitment to empower 10,000 entrepreneurs over 10 years. What started as an ambitious pledge has since grown into a continent-wide movement. With the addition of this year’s cohort—3,000 young men and women—the Foundation has now supported more than double its initial target, reaching over 24,000 beneficiaries by 2025.

The impact of TEF’s work is staggering. Since 2015, the programme has disbursed over $100 million in direct funding, resulting in 5 million jobs created and $4.2 billion in revenue generated. Beyond economics, its ripple effects are deeply human: 2 million Africans have been lifted from poverty, and 4 million households have felt the benefits. Notably, 45% of TEF entrepreneurs are women, underscoring the Foundation’s commitment to inclusion.

“We are humbled by the impact achieved,” Elumelu said, “but also acutely conscious of the many we have not been able to help.” For every success story—a tech innovator in Lagos, an agribusiness pioneer in rural Uganda—there are countless others still waiting for their chance. This awareness drives TEF as it enters its second decade, with Elumelu vowing to “create even more impact.”

The announcement of the 11th cohort is more than a celebration—it’s a rallying cry. Elumelu extended gratitude to the TEF team, global partners, and stakeholders who have fueled this journey, while urging continued collaboration. “Let us keep writing Africa’s transformation story,” he urged, framing investment in African entrepreneurship as a strategic necessity for the continent’s future.

With Africa boasting the world’s youngest and fastest-growing population, the stakes are high. TEF’s model—seed funding, mentorship, and networks—has proven its power to unlock this demographic dividend. From lifting communities out of poverty to building resilient economies, the Foundation’s entrepreneurs are rewriting Africa’s narrative, one venture at a time.

As TEF celebrates 15 years of impact, Elumelu’s reflection is both a look back and a bold step forward. What began as a shared dream with Dr. Awele Elumelu has evolved into a legacy of empowerment, with over 24,000 entrepreneurs now carrying the torch. “We rejoice with the success of entrepreneurs and are emboldened to do more,” he concluded.

For stakeholders, the message is clear: the Tony Elumelu Foundation is not just a success story—it’s an invitation. As the 11th cohort steps into the spotlight, the call to join this movement grows louder. Together, they aim to build an Africa where every young dreamer can thrive, proving that the continent’s greatest asset is, and always will be, its people.