Business
Tony Elumelu Foundation Completes Empowerment of the 2026 Cohort Successfully
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.
Business
ISAT Group Rebrands, Partners Afro Mobile to Launch High-Speed Broadband Services in Nigeria by Q3 2026
New identity signals bold expansion as landmark investment accelerates affordable, high-speed connectivity for millions of Nigerians.
Nigeria’s digital economy is set for a major boost as ISAT Group unveiled a new corporate identity and announced a strategic alliance with Afro Mobile, ahead of its Q3 2026 commercial launch.
The partnership is underpinned by Afro Mobile’s acquisition of a 40% equity stake in ISAT Group and a US$3 billion financing package structured by Equiline Finance, positioning the alliance among the largest indigenous broadband investment initiatives in Nigeria’s telecommunications sector.
The rebranding marks ISAT Group’s evolution into a next-generation digital connectivity company focused on broadband, satellite communications and enterprise solutions. Together, the partners will expand affordable, high-speed internet access to homes, businesses, government institutions and underserved communities nationwide.
ISAT Group Chief Executive Officer, Dr. Adeyanju Binuyo, described the development as a transformational milestone.
“Our vision extends beyond connectivity. We are building the digital infrastructure that will power businesses, connect communities, stimulate innovation and accelerate Nigeria’s digital economy. This partnership demonstrates our commitment to making world-class broadband accessible to every Nigerian.”
Group Chairman, Mr. Ganiyou AFOLABI Moustapha, said the alliance reflects ISAT Group’s long-term confidence in Nigeria’s future.
“This investment is a strong vote of confidence in Nigeria’s digital economy. Together with Afro Mobile, we are building a resilient indigenous broadband platform that will create jobs, drive innovation and support inclusive national development.”
With operations commencing in Q3 2026, ISAT Group and Afro Mobile are poised to emerge as a leading indigenous broadband provider, delivering next-generation connectivity that will help bridge Nigeria’s digital divide and power the country’s next phase of economic growth.
Business
UBA Foundation Drives Environmental Awareness with Tree Planting in Lagos Schools for WED 2026
UBA Foundation tree planting initiative marks World Environment Day 2026 with sustainability drive across Lagos schools to promote climate action
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