Organization · Grant Maker
The Tony Elumelu Foundation
The Tony Elumelu Foundation (TEF) is a philanthropic organization based in Lagos, Nigeria, focused on empowering entrepreneurs across Africa. Established in 2010, it promotes economic development and job creation through its Africapitalism philosophy.
Overview
What The Tony Elumelu Foundation does
What The Tony Elumelu Foundation is
The Tony Elumelu Foundation (TEF) is a philanthropic organization based in Lagos, Nigeria, focused on empowering entrepreneurs across Africa. Established in 2010, it promotes economic development and job creation through its Africapitalism philosophy.
How it participates in the startup ecosystem
The current public profile supports funder and grantor and community and event host and publisher capabilities. Each capability below is shown separately so organization identity and role-specific information do not get conflated.
Operational profile
Organization status and context
Organization status describes the entity itself. Funding and program availability appear within the relevant capability profile.
- Operational status
- Active
- Organization type
- Grant Maker
- Founded
- Founded in 2010
- Approximate age
- About 16 years
- Structured capabilities
- Funder · Grantor · Community · Event host · Publisher
- Last reviewed
- March 16, 2026
Official channels
Find The Tony Elumelu Foundation elsewhere
Open the official website or a supported primary organization account.
Capability profile
The Tony Elumelu Foundation as a funder
Investment thesis
The Tony Elumelu Foundation focuses on empowering African entrepreneurs across all 54 African countries, emphasizing the role of the private sector in driving economic development through entrepreneurship.
Focus narrative
TEF invests in African entrepreneurs through its flagship TEF Entrepreneurship Programme, which provides training, mentorship, and funding. The foundation has disbursed over USD 100 million in direct funding to more than 24,000 entrepreneurs, who have collectively created over 1.5 million jobs. TEF particularly emphasizes supporting women entrepreneurs and businesses in fragile states.
Value beyond capital
TEF provides training, mentorship, and funding to entrepreneurs, helping them build sustainable businesses and create jobs. The foundation's initiatives also focus on empowering women entrepreneurs and supporting businesses in fragile states.
Terms and economics
- Typical check
- $10,000–$240,000
Focus and fit
- Regions
- Africa
Availability
- Currently deploying
- Yes
Portfolio and track record
- Recorded portfolio count
- 24,000
Portfolio context
TEF has supported a diverse range of entrepreneurs across Africa. Notable alumni include Mario Egie, who secured $240,000 in funding for his blockchain payment solution startup, and Njavwa Mutambo, founder of Musanga, a logistics platform that has expanded to include 1,500 drivers and partnerships with major brands like Unilever and Colgate.
Capability profile
The Tony Elumelu Foundation as a grantor
Grant thesis
The Tony Elumelu Foundation aims to empower a new generation of African entrepreneurs, drive poverty eradication, catalyze job creation across all 54 African countries, and promote women's economic empowerment.
Focus narrative
The Tony Elumelu Foundation invests in African entrepreneurs through its flagship TEF Entrepreneurship Programme, which provides training, mentorship, and funding. Since its launch in 2015, the foundation has disbursed over USD 100 million to more than 24,000 young African entrepreneurs, fostering job creation and economic growth across the continent.
Value and support
Beyond funding, the Tony Elumelu Foundation offers training, mentorship, and access to a network of successful entrepreneurs and professionals, enhancing the overall growth and sustainability of the businesses it supports.
Grant economics
- Dilutive
- No
- Nonprofit only
- No
Availability
- Application state
- Accepting
- Application cycle
- annual
Eligibility and fit
- Stages
- Pre-seed · Seed
- Audience
- Founders
- Inclusion focus
- women-founded
- Regions
- Africa
Process and recipient context
Application process
Entrepreneurs interested in the TEF Entrepreneurship Programme can apply through the TEF Connect platform. The application process includes access to training, mentorship, and direct funding for business development. Selected entrepreneurs will receive guidance from experienced professionals to help them succeed.
Recipient context
Notable past grantees include Andrew Etuket, who promotes healthy living through Timnath Health; Moses Mutabaganya, who produces nutritional foods to combat malnutrition; and Eliab Mayengo, who provides quality construction services.
Capability profile
The Tony Elumelu Foundation as a community
Community overview
The Tony Elumelu Foundation (TEF) was founded in 2010 by Tony O. Elumelu, an entrepreneur, investor, and philanthropist focused on Africa's economic development. The foundation aims to empower a new generation of African entrepreneurs, drive poverty eradication, catalyze job creation across all 54 African countries, and promote women's economic empowerment.
Community focus
TEF invests in African entrepreneurs through its flagship initiative, the TEF Entrepreneurship Programme, launched in 2015. This program provides training, mentorship, and funding to entrepreneurs across Africa, supporting their growth and development.
Member value
Members benefit from access to training via the digital hub, TEFConnect, direct funding for business development, and mentorship from experienced professionals. The foundation has disbursed over USD 100 million in funding to more than 24,000 young African entrepreneurs.
Membership
- Recorded members
- 24,000
- Pricing models
- free
Format and cadence
- Modality
- online
- Schedule
- rolling-admissions
- Commitment
- light
Availability
- Membership state
- Accepting
Audience and fit
- Audience
- Founders · Students
- Benefits
- mentorship and grant-funding
- Program types
- community
- Selection criteria
- open
- Regions
- Africa
Community activity
Notable members
Notable success stories include Andrew Etuket, promoting healthy living through Timnath Health; Moses Mutabaganya, producing nutritional foods to combat malnutrition; and Eliab Mayengo, providing quality construction services.
Capability profile
The Tony Elumelu Foundation as an event host
Event focus
The Tony Elumelu Foundation (TEF) invests in African entrepreneurs through its flagship initiative, the TEF Entrepreneurship Programme. Launched in 2015, this program provides training, mentorship, and funding to entrepreneurs across Africa, aiming to drive poverty eradication and job creation.
Format narrative
The TEF Entrepreneurship Programme includes access to training via the digital hub, TEFConnect, direct funding for business development, and mentorship from experienced professionals.
Participant value
TEF offers a comprehensive support system for African entrepreneurs, including funding, training, and mentorship, aimed at fostering sustainable business practices and economic empowerment.
Format and cadence
- Startups can present
- Yes
Availability
- Registration state
- Accepting
Audience and fit
- Selection criteria
- open
- Audience
- Founders
- Regions
- Africa
Speakers and past editions
Past editions
TEF has supported over 24,000 entrepreneurs across various sectors in Africa, collectively creating over 1.5 million jobs and generating over $4.2 billion in revenue.
Capability profile
The Tony Elumelu Foundation as a publisher
Editorial focus
The Tony Elumelu Foundation (TEF) focuses on empowering a new generation of African entrepreneurs through training, mentorship, and funding. Established in 2010, TEF aims to drive poverty eradication and job creation across all 54 African countries, with a strong emphasis on women's economic empowerment.
Audience value
TEF offers African entrepreneurs access to essential resources, including training, funding, and mentorship, to help them succeed in their business ventures and contribute to economic growth.
Format and cadence
- Content formats
- podcast, research-report, and blog
- Primary platform
- TEF Connect
Availability
- Guest pitch state
- Not currently accepting
Audience and focus
- Audience
- Founders
- Regions
- Africa
Flagship work and coverage
Flagship properties
The TEF Entrepreneurship Programme is the foundation's flagship initiative, providing comprehensive support to entrepreneurs, including training, mentorship, and funding.
Notable coverage
TEF has disbursed over USD 100 million in funding to more than 24,000 young African entrepreneurs, who have collectively created over 1.5 million jobs and generated over $4.2 billion in revenue.
Common questions
What to know about The Tony Elumelu Foundation
Upseed classifies The Tony Elumelu Foundation under the Grant Maker organization type. Its current public profile includes funder, grantor, community, event host, and publisher capabilities.
Source and update disclosure
Know what this page is based on
Source basis
Public organization and program material, official websites, and structured Upseed records.
Last reviewed
March 16, 2026
Known limits
Capability profiles appear only when a structured public profile also contains decision-useful role evidence. Terms and availability can change.
Upseed is an independent guide. It is not affiliated with or endorsed by the organization described on this page.