The Tony Elumelu Foundation (TEF) has signed a $6 million strategic partnership agreement with the UAE Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation (an affiliate of Erth Zayed) to provide business training, mentorship, access to networks, and a non-refundable $5,000 seed capital to an additional 1,000 young African entrepreneurs.
The agreement, signed at the World Government Summit by TEF Founder Tony O. Elumelu and the Director General of the Khalifa Bin Zayed Al Nahyan Foundation, His Excellency Mohamed Haji Al Khoori, highlights both organizations’ shared commitment to fostering economic empowerment and entrepreneurship across Africa.
Through this partnership, the Khalifa Bin Zayed Al Nahyan Foundation will leverage the Tony Elumelu Foundation’s expertise and execution capabilities in catalyzing entrepreneurship through the Tony Elumelu Entrepreneurship Programme. This programme has pioneered business management training, mentorship, and capital funding for African entrepreneurs. The Khalifa Bin Zayed Al Nahyan Foundation, a distinguished philanthropic organization affiliated with Erth Zayed, has a long-standing commitment to humanitarian and developmental projects, focusing on education, healthcare, economic empowerment, and enterprise development.
“Empowering entrepreneurs is not just a moral imperative but also a strategic investment in Africa’s future. By providing the necessary access to capital, mentorship, and resources, we are unlocking the potential of Africa’s entrepreneurial talent, eradicating poverty, driving self-reliance, and paving the way for inclusive growth and prosperity on the continent.
This partnership between the Tony Elumelu Foundation and the Khalifa Bin Zayed Al Nahyan Foundation not only reflects our shared vision of empowering Africa’s next generation of business leaders but will also create a ripple effect of economic transformation across the continent,” Tony Elumelu stated.
His Excellency Mohamed Haji Al Khoori added, “Erth Zayed’s mission is to foster impactful partnerships that drive humanitarian and developmental progress. Supporting young African entrepreneurs aligns with our goal of strengthening economies and building sustainable businesses that uplift communities.”
Since the launch of the TEF Entrepreneurship Programme in 2015, the Tony Elumelu Foundation has provided access to business training for up to 2.5 million young Africans through its digital hub, TEFConnect, and has disbursed over USD 100 million in direct funding to more than 21,000 African entrepreneurs. These entrepreneurs have collectively created over 1.5 million direct and indirect jobs, driving economic growth across the continent. Through its initiatives, the Foundation has lifted 2 million Africans out of poverty.
Notably, in Uganda, over 1,200 young entrepreneurs have directly benefited from the TEF Entrepreneurship Programme, fueling business growth, innovation, and job creation across the country. In addition to its self-funded programmes, TEF collaborates with international partners, including the EU, UNDP, ICRC, and the IKEA Foundation, to further expand its impact. The partnership with the Khalifa Bin Zayed Al Nahyan Foundation marks TEF’s first collaboration with a Gulf-based philanthropy, strengthening investment, diplomatic, and cultural ties between the GCC and Africa.
The Tony Elumelu Foundation is currently accepting applications from young entrepreneurs across Africa with innovative business ideas or existing businesses not older than five years on TEFConnect. African entrepreneurs are encouraged to apply to receive training, mentorship, access to networks, and funding. The application deadline is March 1, 2025.
Visit the TEF Impact Page and African Success Stories to learn more about the Tony Elumelu Foundation’s impact across the continent, as well as the initiatives being driven by past beneficiaries of the TEF Entrepreneurship Programme.
