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The Tony Elumelu Foundation

The Tony Elumelu Foundation (TEF) is a philanthropic organization based in Lagos, Nigeria, focused on empowering entrepreneurs across Africa. Established in 2010, it promotes economic development and job creation through its Africapitalism philosophy.

Founded
2010
Recorded stages
Pre Seed, Seed, Seed Plus
Focus sectors
AI, Climate, Healthcare, Fintech
Recorded regions
Africa

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Overview

The Tony Elumelu Foundation (TEF) was founded in 2010 by Tony O. Elumelu, a Nigerian entrepreneur, investor, and philanthropist. The foundation is based in Nigeria and focuses on empowering African entrepreneurs across all 54 African countries. Its mission is rooted in the concept of Africapitalism, which emphasizes the role of the private sector and entrepreneurs in driving economic development on the continent. TEF invests in African entrepreneurs through its flagship TEF Entrepreneurship Programme, which provides training, mentorship, and funding. The foundation has disbursed over USD 100 million in direct funding to more than 24,000 entrepreneurs, who have collectively created over 1.5 million jobs.

Focus

TEF invests in African entrepreneurs through its TEF Entrepreneurship Programme, which offers training, mentorship, and seed capital. The foundation has disbursed over $135 million in direct funding to more than 27,000 entrepreneurs, who have collectively created over 1.5 million jobs. TEF particularly emphasizes support for women entrepreneurs and businesses in fragile states, targeting various sectors and stages of business development.

Support

The Tony Elumelu Foundation provides significant value to its portfolio companies through comprehensive training, mentorship, and access to a vast network of entrepreneurs and investors. The foundation's programs are designed to enhance business skills, improve investment readiness, and facilitate connections that can lead to growth and sustainability.

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