The Tony Elumelu Foundation (TEF) has announced a $15 million grant to support 3,000 budding entrepreneurs from 52 African countries.

TEF Founder, Mr Tony Elumelu, made this known in Abuja during the unveiling of the 2025 cohort of the foundation’s Entrepreneurship Programme, said each beneficiary would receive a $5,000 seed grant to kick-start their businesses.

Elumelu, who is also the Chairman of Heirs Holdings, Transcorp, and United Bank for Africa (UBA), reaffirmed his commitment to empowering African entrepreneurs and transforming the continent’s economic landscape, while adding that the foundation aims to democratise opportunity across the continent, fostering economic growth and providing young Africans with access to funding and mentorship.

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