Tony Elumelu Launches 2026 Entrepreneurship Cohort

On his birthday, Tony Elumelu, billionaire philanthropist and chairman of the Tony Elumelu Foundation, unveiled the 2026 cohort of the foundation's Entrepreneurship Programme. This initiative aims to support 3,200 young African entrepreneurs across 54 African countries.

The announcement was made on a Sunday, with Elumelu emphasizing the importance of resilience and determination among the selected entrepreneurs, who are chosen from a pool of 265,000 applicants. Each entrepreneur will receive a non-refundable seed grant of $5,000, totaling $16 million in direct funding, alongside comprehensive business training and mentorship through the foundation's pan-African network.

The application process for the cohort closed on March 1, following an open call that began on January 1. Elumelu's wife, Awel Elumelu, co-founder of the foundation, officiated the unveiling of the new cohort.