Nigerian Billionaire Set to Announce 2025 Cohort for Entrepreneurship Programme, $5,000 Grant

• On Saturday, March 22, 2025, the Tony Elumelu Foundation (TEF) will unveil the 11th batch of its Entrepreneurship Programme
• This year’s announcement comes amid challenges around financial constraints and global economic headwinds
• The catalytic TEF Entrepreneurship Programme is changing lives and shaping Africa's future, evidenced by remarks of its beneficiaries

Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

The 11th cohort of the Tony Elumelu Foundation's (TEF) Entrepreneurship Programme will be announced on Saturday, March 22, 2025. TEF is Africa's premier charitable organisation that empowers businesses.

The announcement for 2025 comes at a pivotal time, as Africa's entrepreneurial landscape faces challenges from global economic headwinds and financial constraints.

Tony Elumelu Entrepreneurs have collectively created about 1.5 million jobs and generated $4.2 billion in revenue, while over two million Africans have been lifted out of poverty.

TEF has continued to provide much-needed support, empowering African entrepreneurs to transform their ideas into sustainable businesses and engines of economic growth.

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A $5,000 non-refundable startup grant, top-notch business training on TEFConnect, one-on-one mentoring, and access to international networks and investment opportunities are all provided to each chosen Tony Elumelu entrepreneur.

Ernst & Young will be conducting the selection process to guarantee impartial evaluation.

The Tony Elumelu Foundation's influence goes beyond just providing funds. The recipients of the catalytic TEF Entrepreneurship Program attest to the fact that it is transforming lives and influencing Africa's destiny.

Tony O. Elumelu, the founder of TEF and group chairman of Heirs Holdings, affirms his steadfast faith in the potential of African businesspeople ahead of the impending announcement.

“I believe that Africa’s transformation will not be led by aid, but by empowering the next generation of African entrepreneurs—giving them the tools, the funding, the training, and the networks to build sustainable businesses that create jobs and drive economic growth.

“Over the past decade, we have nurtured entrepreneurs from inception to success, scaling our impact across all 54 African countries.

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“We have provided capital and also developed a robust monitoring and evaluation framework that allows us to track the progress of our entrepreneurs and measure their contributions to their communities and economies,” Elumelu said.

He also pointed out that no other organisation is implementing entrepreneurship development at this scale across Africa, emphasising that “We have learned, we have refined, and we continue to improve, ensuring that African entrepreneurs—women and men—are at the forefront of solving our continent’s challenges and creating wealth for themselves and their communities.”

In addition to wishing the 2025 cohort luck, the top African philanthropist pointed out that the continent's prosperity depends on entrepreneurship.

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Elumelu shared this at the Legacy Builders Palm Beach Conference held in Florida, United States, on the theme: “Democratising Luck”.

He observed that Africa is a continent of opportunity, and Nigeria has huge resources to plug into this opportunity but power remains a challenge to be surmounted.

Proofreading by James Ojo, copy editor at Legit.ng.

Source: Legit.ng