The Tony Elumelu Foundation (TEF) has announced a significant $6 million partnership with the UAE Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation to promote entrepreneurship throughout Africa.
This collaboration aims to empower 1,000 African entrepreneurs by offering each $5,000 in seed capital, along with business training, mentorship, and access to essential networks.
This strategic alliance highlights the growing cooperation between Africa and the Gulf Cooperation Council (GCC) region, reinforcing a shared vision of economic development and self-reliance.
Speaking on the partnership, TEF chief executive officer Somachi Chris-Asoluka emphasised the foundation’s dedication to fostering entrepreneurship as a driving force for Africa’s transformation.
“We are deeply committed to building a self-reliant and prosperous Africa, powered by its own entrepreneurial talent,” Chris-Asoluka said. “This partnership with the UAE Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation marks a significant step towards realising that vision.”
African entrepreneurs with innovative business ideas or growing ventures are encouraged to apply for the TEF Entrepreneurship Programme, which offers not only financial support but also business management training and mentorship from industry leaders.
Applications are open until March 1, and interested individuals can apply through the TEFConnect website.
This partnership represents a major boost for young innovators across the continent, reaffirming the Tony Elumelu Foundation’s mission to drive economic development through entrepreneurship.
