#Article (Archive)

Tony Elumelu Foundation empowering next generation of African entrepreneurs

Aug 21, 2016, 5:08 PM | Article By: Njie Baldeh

(Issue, Monday, August 22, 2016)
The Tony Elumelu Foundation Entrepreneurship Programme, popularly known as TEEP, is an act of faith in our entrepreneurs to transform our continent.

In TEEP’s first year we spent over $8 million of our $100 million commitment - with $5 million going directly to entrepreneurs as seed capital. We have funded entrepreneurs, established pan-African networks and helped extraordinary people take control of their destinies.

At the end of our 10-year commitment, Tony Elumelu Entrepreneurs will become a generation of dynamic African business owners, who will prove that local business growth will drive Africa’s economic and social transformation.

I believe that by the end of this “Decade of African Entrepreneurship,” thousands of businesses will grow and flourish, driving sustainable prosperity across Africa. Furthermore, they will create ripples and waves of economic transformation across the continent.

This is my vision. As you’ll see in the following pages, the Foundation’s flagship programme has outpaced my wildest dreams and is showing signs of becoming a juggernaut in the global entrepreneurial ecosystem.

It has truly gone glob al and I invite you to learn more about the p r o g r a m me  a n d j o i n u s i n e m p o w e r i n g t h e n e at generation of African entrepreneurs.

The foundation was established in 2010, The Tony Elumelu Foundation (TEF) is the leading philanthropic organization in Africa with the aim of promoting entrepreneurship as the catalyst for the socio-economic development of the continent. The Foundation has set itself apart from grant-making bodies, by operationalizing integrated programmes to support entrepreneurship in Africa and by enhancing the competitiveness of the African private sector. We have built a reputation for successfully implementing diverse programmes to achieve this, including:

• Promoting entrepreneurship: Elumelu Professionals’ Programme (EPP), Nigeria 50, Impact Investments, grant to Co-Creation Hub and now the flagship - The Tony Elumelu Entrepreneurship Programme (TEEP); • Enhancing competitiveness: National Competitiveness Council of Nigeria (NCCN), Blair-Elumelu Fellows Programme; • Selective grant making: to other bodies pursuing aligned and strategic causes e.g. Tony Blair African Governance Initiative, Kofi Annan Foundation, John Kufor Foundation, One Org, Rothschild Foundation; • Leadership development: Recognition of excellence through The Tony & Awele Elumelu Prize (TAEP) & The Fellows Programme; and • Policy development: research and advocacy through the research arm (formerly the Africa capitalism Institute).