The Tony Elumelu Foundation (TEF) has entered a $6 million partnership with the UAE Office of Development Affairs to empower 1,000 African entrepreneurs.
In a statement released on Wednesday, Moyo Awotile, TEF’s Head of Marketing and Corporate Communications, announced that the partnership was formalized during the World Government Summit and includes collaboration with the Khalifa Bin Zayed Al Nahyan Foundation, an affiliate of Erth Zayed.
The initiative aims to provide African entrepreneurs with comprehensive support, including business training, mentorship, access to professional networks, and non-refundable seed capital of $5,000.
“The agreement, signed at the World Government Summit by TEF Founder, Tony O. Elumelu, and His Excellency Mohamed Haji Al Khoori, Director General of the Khalifa Bin Zayed Al Nahyan Foundation, underscores both organizations’ dedication to fostering entrepreneurship and economic empowerment across Africa,” the statement reads.
Through this collaboration, the Khalifa Bin Zayed Al Nahyan Foundation will leverage TEF’s expertise in implementing its flagship Tony Elumelu Entrepreneurship Programme, which focuses on equipping African entrepreneurs with business management skills, mentorship, and startup funding.
Described as a distinguished philanthropic organization, the Khalifa Bin Zayed Al Nahyan Foundation has a longstanding commitment to humanitarian and developmental projects, particularly in education, healthcare, economic empowerment, and enterprise development.
Empowering Entrepreneurs as Africa’s Future Investment
Tony Elumelu emphasized the strategic importance of investing in entrepreneurship to transform Africa’s future.
“Empowering entrepreneurs is not just a moral imperative; it is a strategic investment in Africa’s future,” Elumelu said. “By providing access to capital, mentorship, and resources, we are unlocking Africa’s entrepreneurial potential, eradicating poverty, fostering self-reliance, and driving inclusive growth and prosperity.”
Elumelu further highlighted that the partnership reflects a shared vision between TEF and the Khalifa Bin Zayed Al Nahyan Foundation to create a ripple effect of economic transformation across the continent.
The collaboration marks the first partnership between TEF and a Gulf-based philanthropic organization. TEF noted that this initiative exemplifies the growing investment, diplomatic, and cultural ties between the Gulf Cooperation Council (GCC) and Africa.
Applications are currently open on TEFConnect for young African entrepreneurs with innovative business ideas or businesses less than five years old. The deadline for submissions is March 1.
