Tony Elumelu Empowers 3, 200 Africans with $16 Million

Dayo Thomas

The Tony Elumelu Foundation is making a significant impact in Africa’s entrepreneurial landscape, committing $16 million in seed funding to support 3,200 young entrepreneurs across the continent under its 2026 entrepreneurship programme. This initiative is a key part of the foundation’s mission to drive economic transformation through entrepreneurship, with a focus on empowering local creators and promoting Africapitalism.

The selected entrepreneurs will receive non-refundable seed grants of $5,000 each, as well as comprehensive business training, mentorship, and access to the foundation’s extensive pan-African network. This support system is designed to equip young entrepreneurs with the tools and expertise needed to succeed in today’s competitive business environment.

Since its inception in 2015, the Tony Elumelu Foundation has disbursed over $100 million to 24,000 entrepreneurs, generating an impressive $4.2 billion in revenue and creating 1.5 million jobs. This remarkable achievement is a testament to the foundation’s commitment to empowering Africa’s youth and driving economic growth.