Home Startup All you need to know about the Tony Elumelu Foundation(TEF)

All you need to know about the Tony Elumelu Foundation(TEF)

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Tony Elumelu Foundation

The Tony Elumelu Foundation(TEF) is one of the most renowned African philanthropic organisations activating entrepreneurs across the continent of Africa. Founded in the year 2015 by the Nigeria Banking Mogul, Tony Elumelu, CON, and his wife, Dr. Elumelu.


Founded in the year 2010 by the Nigerian economist, philanthropist, Banking Mogul, and Africapitalist, Tony O. Elumelu, CON.  The foundation has a mission of leading a private-sector driven exercise to unlock Africa’s Economic Potential through different programmes, research, communities, and advocacy, including their very popular annual TEF Forum – the largest gathering of entrepreneurs in Africa, and TEFConnect, Africa’s digital hub for entrepreneurs.

In 2020, Mr. Elumelu was named on the list of Time’s 100 most influential people in the world.

No one will develop Africa but us.

Tony O. Elumelu, CON.

Important Achievements of the Foundation

  • The TEF is headquartered in Lagos, Nigeria. This is also where the founder resides.
  • In 2015, the Foundation launched the TEF Entrepreneurship Programme, a $100 million commitment to empower 10,000 African entrepreneurs across 54 African countries over 10 years.
  • The TEF Entrepreneurship programme invests $5,000 each in 1,000 young African entrepreneurs per year.
  • The TEF Connect digital platform – with over a million subscribers and mentors – connects businesses with money, market, and required tools for success.
  • The Tony Elumelu Foundation empowered 20 tech businesses with a seed funding of $100,000 through Nigerian Accelerator, CCHub.
  • The TEF Entrepreneurship Forum is the largest gathering of African young entrepreneurship community. The yearly event host more than 50k audience both physically and virtually, with over 60 speakers.
  • From 2017, TEF opened it’s door to partners across the globe. As at today, it partners with several global organisations thus expanding the scope and impact of their work across Africa. More info on partnership here.

TEF Co-founders with the TEF Entrepreneurship Programme beneficiaries.

The 7 Pillars that TEF Entrepreneurs Enjoy

  • Seed Capital Funding of $5000 for each business
  • 12 Weeks business management training
  • Access to their global mentorship programme for entrepreneurs
  • Knowledge Resources on TEFConnect.net
  • Regular Meet-ups within the different communities in each country.
  • Annual TEF Entrepreneurship Forum
  • TEF Entrepreneurship Programme Alumni Network

Nobody should decide for Africa. Africa must decide for herself. It is time to take responsibility for the legacy we leave behind.

President Emmanuel Macron, President of France

We believe this foundation is doing a significant work with tangible impacts across our beautiful African continent. You can get more information on this foundation by visiting their website here.

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