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The Tony Elumelu Foundation (TEF) — Africa’s leading
philanthropy dedicated to empowering African entrepreneurs — will begin
accepting applications for the 2020 cohort of the TEF Entrepreneurship
Programme, on January 1, 2020.
Applications are made
through TEFConnect, the digital networking hub for the African entrepreneurship
ecosystem, created by the Foundation.
The TEF
Entrepreneurship Programme is open to entrepreneurs from across Africa, either
with new startup ideas or existing businesses of less than 3 years existence,
operating in any sector. Successful applicants will join the over 9,000 current
beneficiaries, from 54 African countries, and receive business training,
mentoring, a non-refundable $5,000 of seed capital and global networking
opportunities.
Last year, the Foundation received about 216,000
applications, with 42% coming from women entrepreneurs, from every country on
the continent.
The Programme is a
10-year, $100 million commitment to identify, train, mentor and fund 10,000
young African entrepreneurs. The goal is
to create millions of jobs and the revenue required for the sustainable
development of the continent, implementing the philosophy of Africapitalism,
which positions the private sector as the growth engine for Africa and
emphasises the importance of creating social and economic wealth.
According to the
Foundation’s 2018 Impact Report, 70% of the total number of businesses in its
alumni network were still operational two years after benefitting from the
Programme. The report also identified an
increase of 189% revenue generated and 197% increase in the number of
additional jobs created by beneficiaries post-graduation from the Programme, as
well as a 100% commitment to the Sustainable Development Goals.
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