The Tony Elumelu Foundation (TEF) is collaborating with the UAE Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation to empower an additional 1,000 young African entrepreneurs, across all 54 African nations, 9am news reports.
The Tony Elumelu Foundation is the foremost philanthropic organization that supports young African entrepreneurs.
Historic Deal With Gulf Partners
Tony Elumelu Foundation has extended its philanthropic outreach with the signing of a US $6 million strategic partnership agreement with the UAE Office of Development Affairs and Khalifa Bin Zayed Al Nahyan Foundation.
They aim to support an additional 1,000 young African entrepreneurs in business training, mentorship, network access, and non-refundable $5,000 seed capital.
His Excellency Mohamed Haji Al Khoori, the Director General of the Khalifa Bin Zayed Al Nahyan Foundation, and Tony O. Elumelu, the founder of TEF, signed the agreement during the World Governments Summit.
The partnership demonstrates the two organizations’ common goal of promoting entrepreneurship and economic empowerment throughout Africa. The Khalifa Bin Zayed Al Nahyan Foundation will benefit from this collaboration by learning from the Tony Elumelu Foundation’s experience in promoting entrepreneurship through dynamic programs.
Several African entrepreneurs have benefited from TEF’s innovative company management training, capital assistance, and mentorship programs.
Also,The Khalifa Bin Zayed Al Nahyan Foundation is a renowned philanthropic organization that has a long history of supporting humanitarian and development initiatives with an emphasis on enterprise development, healthcare, education, and economic empowerment.
Their statements made available to 9am News Nigeria read:
“This partnership between the Tony Elumelu Foundation and the Khalifa Bin Zayed Al Nahyan Foundation not only reflects our shared vision of empowering Africa’s next generation of business leaders, but will also create a ripple effect of economic transformation across the continent.” – Tony Elumelu.
“The Khalifa Bin Zayed Foundation’s mission is to foster impactful partnerships that drive humanitarian and developmental progress. Supporting young African entrepreneurs aligns with our goal of strengthening economies and building sustainable businesses that uplift communities.” – His Excellency Mohamed Haji Al Khoori.
Stellar Philanthropic Profile of Tony Elumelu Foundation
Since the TEF Entrepreneurship Program began in 2015, the Tony Elumelu Foundation has made training available to up to 2.5 million young Africans through its online platform, TEFConnect.
TEF has given more than 21,000 African women and men more than $100 million in direct finance, and together they have generated more than 1.5 million direct and indirect jobs. The Tony Elumelu Foundation has lifted two million Africans out of poverty with its programs. Apart from its initiatives, TEF collaborates with global partners such as the Ikea Foundation, the EU, the UNDP, and the ICRC.
The collaboration with the Khalifa Bin Zayed Al Nahyan Foundation is the first philanthropic alliance centered in the Gulf and serves as another illustration of the close cultural, diplomatic, and investment linkages between the GCC and Africa.
Call For Applications
Young African entrepreneurs who have creative business ideas or who have been in business for no more than five years are encouraged to apply to the Tony Elumelu Foundation via TEFConnect to obtain finance, networks, mentorship, and training. March 1, 2025, is the deadline for applications.
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