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 support 1,000 young African entrepreneurs. The initiative will provide business training, mentorship, access to networks, and a non-refundable $5,000 seed capital for selected entrepreneurs. The agreement was formalized at the World Governments Summit by TEF Founder, Tony O. Elumelu, and His Excellency Mohamed Haji Al Khoori, Director General of the Khalifa Bin Zayed Al Nahyan Foundation.
According to Moyo Awotile, TEF’s Head of Marketing & Corporate Communications, the collaboration underscores both organizations’ commitment to fostering economic empowerment and entrepreneurship in Africa.
Through this partnership, the Khalifa Bin Zayed Al Nahyan Foundation will leverage TEF’s expertise in business training and funding under the Tony Elumelu Entrepreneurship Programme, which has already supported thousands of African entrepreneurs.
Elumelu emphasized that empowering entrepreneurs is a strategic investment in Africa’s future, driving self-reliance, poverty eradication, and economic growth.
Since its inception in 2015, TEF has trained over 2.5 million young Africans through its digital hub, TEFConnect, and disbursed more than $100 million in direct funding to over 21,000 entrepreneurs, generating over 1.5 million jobs. The foundation is currently accepting applications for its latest cohort on TEFConnect.
