Kenya ranks second in Africa with 235 entrepreneurs in the 2025 Tony Elumelu Foundation's cohort

Each of them will receive the USD 5,000 seed capital, training and be integrated into the PanAfrican support network that continues to foster innovation and job creation across the continent.

In 2010, visionary African leaders Tony O. Elumelu, CFR and Dr. Awele Elumelu imagined a self-sustaining African continent – driven by the ideas, resilience, and innovation of its people.

That vision gave birth to the Tony Elumelu Foundation (TEF) – an African-rooted, African-funded philanthropy committed to empowering African entrepreneurs.

As a successful entrepreneur himself, Mr. Elumelu recognized the immense potential that Africa holds and the transformational power of entrepreneurship.

He also understood the structural barriers that have held back many talented young Africans – barriers he was determined to help break.

This ambition came to life in 2015 with the launch of the Tony Elumelu Foundation Entrepreneurship Programme, pledging a landmark US$100 million commitment to identify, train, mentor, and fund 10,000 African entrepreneurs over 10 years.

Today, 15 years since the Foundation's inception and 10 years into the flagship programme, the Foundation proudly announces its 11th cohort – empowering 3,000 young entrepreneurs across 52 African countries with non-refundable seed capital of USD 5,000 each, alongside world-class training, mentorship, and access to the Tony Elumelu Foundation Alumni Network.

This builds on the impact already made in Kenya, where 782 entrepreneurs have previously benefited from this life-changing programme.

The 2025 cohort raises the number of Kenyan beneficiaries to over 1,000 – reinforcing Kenya’s status as a hub of innovation and entrepreneurship in Africa.

United Bank for Africa (UBA), a strategic partner of the Tony Elumelu Foundation, continues to play a pivotal role in delivering this commitment to Africa’s entrepreneurs.

With presence in 20 African countries and global financial centres including the US, UK, France, and UAE, UBA not only provides a gateway to funding, but also acts as a key connector between African businesses and the world.

As a leading financial institution with a Pan-African and global footprint, UBA shares this commitment to empowering African entrepreneurs as a catalyst for inclusive economic growth.

Impact of the Tony Elumelu Foundation (2015–2025):

• 24,000+ African entrepreneurs empowered
•  $100M+ in direct seed funding disbursed
• 5 million jobs created across Africa
• $4.2 billion in revenue generated
• 2 million Africans economically empowered
• 4 million households positively impacted
• 45% of beneficiaries are women entrepreneurs