Tony Elumelu Foundation signs a $6m partnership with UAE’s Khalifa Bin Zayed Al Nahyan Foundation to support 1,000 young African entrepreneurs
The Tony Elumelu Foundation (TEF) has secured a $6 million strategic partnership with the UAE Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation an affiliate of Erth Zayed, to empower 1,000 young African entrepreneurs. .
The agreement, signed at the World Governments Summit by Tony Elumelu, TEF’s founder, and Mohamed Haji Al Khoori, Director General of the Khalifa Bin Zayed Al Nahyan Foundation, reinforces a shared commitment to economic development in Africa.
The collaboration will provide selected entrepreneurs with business training, mentorship, access to networks and **non-refundable $5,000 seed capital.
The Khalifa Bin Zayed Al Nahyan Foundation will leverage TEF’s expertise in business management training and funding, which has already transformed thousands of African startups through the Tony Elumelu Entrepreneurship Programme.
Elumelu emphasised that empowering entrepreneurs is not just a moral obligation but a strategic investment in Africa’s economic future.
He stated, “By providing access to capital, mentorship, and resources, we are unlocking Africa’s entrepreneurial potential, eradicating poverty, driving self-reliance, and paving the way for inclusive growth.”
Al Khoori echoed this sentiment, highlighting that the partnership aligns with Erth Zayed’s missionto drive humanitarian and economic progress by supporting sustainable business growth in Africa.
Since its inception in 2015, TEF’s Entrepreneurship Programme** has provided over 2.5 million young Africans with training through its digital hub, TEFConnect, and disbursed over $100 million in funding to 21,000 entrepreneurs, resulting in 1.5 million direct and indirect jobs.
The foundation has also partnered with global organisations, including the EU, UNDP, ICRC, and the IKEA Foundation.
This new partnership marks TEF’s first collaboration with a Gulf-based philanthropy, strengthening economic, diplomatic, and cultural ties between the GCC and Africa.
Applications for the TEF Entrepreneurship Programme are open until 1 March 2025, inviting young African entrepreneurs with innovative business ideas or existing startups under five years old to apply for training, mentorship, funding, and networking opportunities via TEFConnect.
