Elumelu Inspires 3,200 Entrepreneurs at TEF 2026 Launch

Toni Elumelu, founder of the Toni Elumelu Foundation (TEF), addressed 3,200 young entrepreneurs during the unveiling of the 2026 TEF cohort in Abuja. He encouraged these entrepreneurs, representing 54 African countries, to believe in their capacity to shape Africa's future through entrepreneurship.

The TEF program provides funding, mentorship, and access to the digital platform TEFConnect. Elumelu highlighted the importance of the private sector, particularly entrepreneurs, in driving economic and social transformation across Africa.

The foundation has positively impacted 4 million African households, lifted 2.1 million people out of poverty, and generated $4.2 billion in revenue, creating 1.5 million jobs. Somachi Chris-Asoluka, the CEO of TEF, noted the foundation's commitment to monitoring and evaluating the impact of its initiatives, emphasizing the need for policy advocacy to address infrastructure challenges faced by entrepreneurs.

The foundation aims to enable entrepreneurs to scale their businesses effectively in a challenging economic environment.