The Tony Elumelu Foundation has said its interventions in 2021 will give priority to economic recovery of small and medium-scale enterprises and young African entrepreneurs, following the COVID-19 disruption to economic activities.
The foundation, which is dedicated to empowering African entrepreneurs, said it has opened this years’ applications on its TEFConnect digital platform.
It said this in a statement titled ‘Tony Elumelu Foundation 2021 TEF entrepreneurship programme application opens on January 1, 2021.
TEF said to address the unique challenges arising from the pandemic, lift millions out of poverty and create sustainable employment across the continent, its entrepreneurship programme would empower 1,000 young African entrepreneurs, selected from the 2020 cohort.
It said it would also open applications to an additional 2,400 young entrepreneurs in 2021, in collaboration with global partners.
According to the statement, the foundation, which celebrated 10 years of impact in 2020, is empowering a new generation of African entrepreneurs, through the TEF Entrepreneurship Programme.
It said successful applicants received a world-class business training, mentorship, non-refundable seed capital up to $5,000, and global networking opportunities.
It said the programme was opened to entrepreneurs across Africa, both new start-ups and existing young businesses, operating in any sector.
The Chief Executive Officer, Tony Elumelu Foundation, Ifeyinwa Ugochukwu, said, “The Tony Elumelu Foundation now more than ever is demonstrating our commitment to unleashing the potential of young African entrepreneurs, the key to Africa’s long-term economic transformation.