1,000 entrepreneurs win 2018 Elumelu Foundation grants

More than 150,000 Africans from 114 countries worldwide applied to join the 4th cycle of The Tony Elumelu Foundation’s (TEF) 10-year, $100 million TEF Entrepreneurship Programme.

The 2018 cohort includes an additional 250 entrepreneurs to the standard selection of 1,000 - thanks to a $1,000,000 partnership with the International Committee of the Red Cross (ICRC) to support 200 entrepreneurs in conflict and fragile zones of Nigeria (the North East where the Boko Haram scourge is felt and the Niger Delta region which suffers environmental degradation from oil spillage); a $200,000 agreement with the United Nations Development Programme (UNDP) to support 40 panAfrican entrepreneurs; and a $50,000 partnership with Indorama to support 10 Nigerians.

TEF founder, Tony O. Elumelu, CON, said: “The number and quality of applicants, 151,000 in total, was outstanding. It illustrates the strength and depth of entrepreneurial promise and commitment on our continent. Selection is never easy, and we profoundly regret that we cannot help all.”

There was a near 50-50 split between male and female applications, reflecting the entrepreneurial ambition of Africa’s women.

Agriculture was the leading sector among selected entrepreneurs at 30.5%, followed by technology (10.5%) and education and training (9%).

Meanwhile, President Muhammadu Buhari has felicitated with the Chairman of Heirs Holdings, Mr Tony Elumelu, on his 55th birthday - March 22, 2018.

A statement from Femi Adesina Special Adviser to the President (Media & Publicity) said President Buhari believes that the entrepreneur’s greatest investment has been in the development of people and communities, clearly evident in the Tony Elumelu Foundation which started with scholarships and fellowships, and now trains a new generation of business leaders across the continent.