Tony Elumelu Foundation 2026 cohort empowerment sees 3,200 young Africans selected for funding, mentorship and training support

The Tony O. Elumelu Foundation (TEF), a leading African philanthropy based in Lagos, Nigeria, on Sunday, March 22, 2026, announced the selection of its 12th cohort under the flagship entrepreneurship programme, confirming plans to empower 3,200 young entrepreneurs across the continent under the Tony Elumelu Foundation 2026 cohort empowerment initiative.

Also read: Again, Billionaire Businessman, Tony Elumelu, Expands His Coast

The announcement marks a significant milestone in the Foundation’s long-running intervention aimed at supporting African-led enterprise through funding, training and mentorship. The 2026 cohort was drawn from a highly competitive pool of more than 265,000 applicants across all 54 African countries, reflecting both the scale of demand and the growing urgency for economic opportunity among young people.

The Foundation, established by Tony O. Elumelu, C.F.R., has continued to position entrepreneurship as a central pillar of Africa’s economic transformation. According to programme details, the selected entrepreneurs will receive seed capital of $5,000 each, alongside structured business training via TEFConnect, personalised mentorship, and access to a global investor network.

A spokesperson for the Foundation described the selection process as rigorous and independently conducted by Ernst & Young, underscoring its commitment to transparency and credibility. The Tony Elumelu Foundation 2026 cohort empowerment scheme also extends beyond the flagship programme, with additional beneficiaries supported through partnerships with international development organisations and private sector institutions.

Collectively, the initiative is expected to reinforce job creation and business expansion across multiple sectors, with the Foundation maintaining that entrepreneurship remains a powerful and sustainable route to tackling unemployment and poverty on the continent.

Tony O. Elumelu, speaking ahead of the announcement, reaffirmed the Foundation’s vision of a self-reliant Africa driven by innovative entrepreneurs, stressing that the impact of the programme continues to grow year after year.

Also read: Tony Elumelu Demands Action to Unlock Africa’s Economic Potential

The latest cohort will join an alumni network of more than 24,000 entrepreneurs who have benefited from the programme since inception, further strengthening what has become one of Africa’s most recognised private-sector-led empowerment platforms.