TEF to Announce 2026 Entrepreneurship Programme Cohort March 22

The Tony Elumelu Foundation (TEF) will on Sunday, March 22, 2026, announce the 12th cohort of its flagship Entrepreneurship Programme, following the receipt of over 265,000 applications from all 54 African countries.

In a statement issued in Lagos, the Foundation said the applications highlight Africa’s vibrant entrepreneurial landscape and the growing need for early-stage funding, with key sectors including agriculture, artificial intelligence, healthcare and the green economy dominating submissions.

The Foundation disclosed that a total of 3,200 entrepreneurs will be empowered across its various programmes in 2026. This includes 1,751 entrepreneurs supported through Heirs Holdings Group companies such as Heirs Energies, Transcorp Power, Transcorp Hotels and United Capital, as well as 1,049 entrepreneurs in partnership with international organisations including the European Commission, OACPS, BMZ and GIZ.

Others are 100 entrepreneurs each in collaboration with Sèmè City Development Agency, DEG, the IKEA Foundation, UNICEF’s Generation Unlimited, the Dutch Government, as well as UNDP in partnership with the Rwandan Ministry of Youth and Arts.

According to the Foundation, each selected entrepreneur will receive a non-refundable seed capital of 5,000 dollars, access to business management training on TEFConnect, mentorship and entry into a network of investors and partners.
The selection process is being conducted by Ernst & Young to ensure transparency and rigorous assessment.

The Foundation also revealed that it plans to disburse a total of 16 million dollars in funding throughout 2026, including programmes executed with global partners.

It noted that since inception, TEF has trained over 2.5 million young Africans through its digital platform and disbursed more than 100 million dollars in seed capital to over 24,000 entrepreneurs.
The statement added that beneficiaries of the programme have collectively generated 4.2 billion dollars in revenue and created more than 1.5 million direct and indirect jobs, lifting about 2.1 million Africans out of poverty and impacting over 4 million households.

Founder of the Foundation, Tony O. Elumelu, reaffirmed his commitment to empowering African entrepreneurs, stating that the continent’s future depends on individuals who build businesses, create jobs and address local challenges.

He expressed optimism about the impact of the 2026 cohort and urged stakeholders to join the virtual announcement event scheduled for March 22.