THE TONY ELUMELU FOUNDATION
The Tony Elumelu Foundation (TEF) headquartered in Lagos, Nigeria vibrantly promotes entrepreneurship in Africa. As a non-profit organization, the foundation’s mission is to empower individuals across the African continent to drive economic growth and create jobs. The foundation’s objective is implemented through a 7-pillar model which includes Entrepreneurship and Leadership Development, Access to Finance, Research and Policy Advocacy, Group CSR, Competitiveness, and Business Leadership Training.
TEF is unique in its approach and does not act merely as a grant-awarding organization but provides a wholistic system of support to entrepreneurs through its 7-pillar model. The foundation leverages its strong relationships in the public, private, and development sectors to drive its mission of creating prosperity for all. TEF is a pioneer member of the Global Impact Investment Rating System (GIIRS).
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TEF was founded in 2010 by Tony Elumelu, a visionary leader, African investor, and philanthropist, who strongly believes that with the appropriate support, African entrepreneurs can be empowered to contribute greatly to Africa’s economic growth and social development. The foundation represents his personal commitment to producing a generation of entrepreneurs, through his investment company, Heirs Holdings.
TEF operates on the concept of Africapitalism, an economic concept coined by the founder and chief executive officer, Tony Elumelu. Africapitalism is predicated on the belief that Africa’s private sector can and must play a leading role in the continent’s development. Africapitalism is a call-to-action for businesses to make decisions that will increase economic & social wealth and promote development in the nations in which they operate. This approach will help businesses become more successful as the communities they serve become well-off consumers, healthy and better-educated employees, and even entrepreneurs who go on to become suppliers and service providers.
In 2015, the foundation launched the TEF Entrepreneurship Program, a $100 million commitment by Tony Elumelu to empower 10,000 African entrepreneurs over 10 years in 2015.
Over time, the foundation has partnered with the United Nations on their Development Program, the African Development Bank, the International Committee of the Red Cross, GIZ, and United Bank for Africa, to create meaningful and permanent impact across Africa.
For information on the processes involved in participating in the TEF entrepreneurship programs, visit https://www.tonyelumelufoundation.org/