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The Tony Elumelu Foundation Set To Announce 2025 Cohort Of TEF Entrepreneurship Programme

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  • Tony Elumelu Entrepreneurs have collectively created 1.5 million jobs and generated $4.2 billion in revenue.
  • Over 2 million Africans lifted out of poverty.

 

The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy empowering entrepreneurs is set to announce the 11th cohort of the TEF Entrepreneurship Programme on Saturday, March 22, 2025.

The 2025 announcement comes at a critical time, as Africa’s entrepreneurship ecosystem faces funding constraints and global economic headwinds. TEF continues to provide much-needed support, empowering African entrepreneurs to transform their ideas into sustainable businesses and engines of economic growth.

Each selected Tony Elumelu Entrepreneur will receive $5,000 non-refundable seed capital, a world-class business training on TEFConnect, one-on-one mentorship, and access to global networks and investment opportunities. The selection process is being conducted by Ernst & Young, to ensure independent assessment.

The impact of the Tony Elumelu Foundation extends beyond funding. It is changing lives and shaping Africa’s future, as witnessed by beneficiaries of the catalytic TEF Entrepreneurship Programme.

Ahead of the upcoming announcement, Tony O. Elumelu, C.F.R., Founder of TEF and Group Chairman of Heirs Holdings, reiterates his unwavering belief in the potential of Africa’s entrepreneurs:

“I believe that Africa’s transformation will not be led by aid, but by empowering the next generation of African entrepreneurs—giving them the tools, the funding, the training, and the networks to build sustainable businesses that create jobs and drive economic growth.

Over the past decade, we have nurtured entrepreneurs from inception to success, scaling our impact across all 54 African countries. We have provided capital and also developed a robust monitoring and evaluation framework that allows us to track the progress of our entrepreneurs and measure their contributions to their communities and economies.

No other organisation is implementing entrepreneurship development at this scale across Africa. We have learned, we have refined, and we continue to improve, ensuring that African entrepreneurs—women and men—are at the forefront of solving our continent’s challenges and creating wealth for themselves and their communities. Entrepreneurship is the key to Africa’s prosperity. I wish the 2025 cohort of Tony Elumelu Entrepreneurs success, as they chase their ambitions, and play their part in Africa’s transformation.”

The Tony Elumelu Foundation is the leading philanthropy empowering a new generation of African entrepreneurs, driving poverty eradication, catalysing job creation across all 54 African countries and ensuring inclusive economic empowerment.

Since the launch of the Tony Elumelu Foundation Entrepreneurship Programme in 2015, TEF has lifted over 2 million Africans out of poverty, provided 2.5 million young Africans with access to training on TEFConnect, and disbursed more than $100millon in direct funding to thousands of African entrepreneurs who have gone on to create over 1.5 million direct and indirect jobs and generate over $4.2 billion in revenue.

For more details on the Tony Elumelu Foundation’s impact visit our Impact Page, African Success Stories Page, and Annual Report Page.

For Media Inquiries: [email protected]

Tony Elumelu Entrepreneur Testimonials from Previous Years:

“I started my agribusiness with nothing but an idea. TEF changed everything. With the funding, training, and mentorship, I have now expanded across three countries and employ 25 people.”

– Fatima Diallo, Senegal, Agritech Entrepreneur

“As a woman in the fintech industry, it was difficult to secure funding. TEF not only provided me with capital but also the confidence and skills to build a business that is now attracting international investors.”

– Mary Okeke, Nigeria, Fintech Founder

“The TEF Entrepreneurship Programme helped me commercialise my clean energy innovation. Today, we provide solar solutions to over 50,000 homes in rural Tanzania.”

– Juma Nyerere, Tanzania, Renewable Energy Entrepreneur

For more details on the Tony Elumelu Foundation’s impact visit our Impact Page, African Success Stories Page, and Annual Report Page.

For Media Inquiries: [email protected]

BIG STORY

I Never Received Security Vote as Lagos Governor For 8 Years —– Fashola

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Babatunde Fashola, former Lagos governor, says he did not receive any form of security vote during his eight-year tenure in office.

Fashola remarked on Friday during a panel discussion on governance, democracy, and security organised by The Platform.

A security vote is a discretionary allocation provided to state governments for security-related expenditures and is typically not subject to detailed public scrutiny.

Responding to a question on whether security votes, often criticised for being spent without legislative oversight, should be reviewed in light of ongoing discussions on state police and rising insecurity in Nigeria, Fashola said he was unaware whether governors received such funds or their source.

Before Fashola responded, Bukola Saraki, former governor of Kwara, who was also on the panel, argued that the more important issue was ensuring credible elections that produce leaders who would manage public funds with accountability.

However, Fashola maintained that no security vote existed during his administration, noting that security initiatives in Lagos were funded through transparent mechanisms supported by residents and the private sector.

“This security vote thing, whenever I hear some of my colleagues talk about it, I don’t know what it means because I never had it in Lagos,” the former Lagos governor said.

“I was the governor, so I speak for what I know. There was no security vote. All our acquisitions were domiciled in the Ministry of Budget and Planning.

“So, when you say governors received security votes, I don’t know if Governor Saraki got that kind of money. I didn’t get it, and I don’t know where they were getting it from.”

Fashola said his administration held monthly security meetings throughout his eight years in office and relied on data-driven strategies to tackle crime.

“Back in the day, we used to have a monthly security meeting. It was held every first Wednesday of the month for eight years, and I never missed that meeting,” he said.

According to him, Lagos established a security trust fund through which individuals and corporate organisations contributed resources to strengthen security operations in the state.

“The accounts and assets were audited, and every year we came to a town hall like this. We did not just tell Lagosians what we were doing with the resources; we also reported crime statistics and measured changes from previous years to assess our progress,” he said.

The former minister added that crime evolves constantly and requires a combination of security and policy interventions.

He cited Lagos’ early adoption of the Central Bank of Nigeria’s (CBN) cashless policy as an example of a non-military strategy aimed at reducing armed robbery and kidnapping.

“It wasn’t just a battle won with arms and guns; it was also a battle won with policies,” Fashola said.

“Crime is very dynamic. As you win one battle, a new crime emerges. It doesn’t end. That is the unending work of all the people responsible for securing society.”

 

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BIG STORY

National Awards: Obasa Congratulates Alake, Omatseye, Otitoju, Other Media Professionals

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Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa has congratulated some of Nigeria’s veteran media practitioners conferred with national honours by President Bola Ahmed Tinubu GCFR.

The honourees include Oladele Alake, former editor of the defunct National Concord and current Minister of Solid Minerals; Babajide Kolade-Otitoju, anchor of the no-holds-barred talkshow, Journalists’ Hangout on TVC; Sam Omatseye, intrepid columnist and chairman of the editorial board of The Nation Newspapers; Sir Ademola Osinubi, former managing director of The Punch; and Richard Akinnola, lawyer and public affairs analyst.

Others recognised in President Tinubu’s Democracy Day broadcast are Dr Tunji Bello, also a former editor of the Weekend and National Concord and current Executive Chairman of the Federal Competition and Consumer Protection Commission (FCCPC); and Louis Odion, popular columnist and current Executive Commissioner (Operations), FCCPC.

According to the Presidency, the awardees endured persecution, detention, exile, and various forms of repression during the struggle for democratic governance in Nigeria, with their contributions described as “instrumental to the democracy enjoyed today.”

In a statement signed by Adeshina Oyetayo, his Special Adviser on Research, Media, and Documentation, Speaker Obasa applauded the President for acknowledging the roles of these journalists in sustaining democratic values, often at great personal cost during critical periods in the nation’s history.

“This is a fitting recognition of the roles these renowned journalists played in the June 12 pro-democracy struggle and the fight against military rule. They were the voices of courage and conscience. Their pens and platforms helped shape public discourse and defend the will of the people during the June 12 struggle and beyond.

“The democracy we enjoy today would not have materialised without the sweat, blood, and in the worst circumstances, the lives of our media people. We cannot thank them enough for their sacrifices.”

Speaker Obasa praised the media’s vital role in nation-building, noting that the honourees exemplify professionalism, integrity, and patriotism. He described the national honours as a testament to President Tinubu’s commitment to recognising those who contributed to the restoration and consolidation of democracy in Nigeria.

Speaker Obasa urged the awardees and new generation media practitioners to uphold the highest ethical standards while supporting good governance and national development.

“As we celebrate these icons, let us rededicate ourselves to building a stronger, more united Nigeria where press freedom and responsibility go hand in hand.”

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BIG STORY

Democracy Day: ‘Surrender Now Or Face Full Force Of The State,’ Tinubu Tells Bandits

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President Bola Tinubu has issued one of his strongest warnings yet to bandits, kidnappers, and sponsors of terrorism, declaring that those who continue to threaten Nigeria’s peace and security will face the full force of the law.

In a hard-hitting nationwide Democracy Day broadcast message on Friday aimed at criminal elements across the country, the President said the window for surrender and repentance would not remain open indefinitely.

To bandits, kidnappers, and sponsors of terror: Surrender or face the full force of the Nigerian State,” Tinubu said.

These windows of surrender will not remain open forever. No mercy will be shown to those who trade in the blood of Nigerians.”

His comments come amid recurring debates over the identity of criminal groups and concerns that insecurity could deepen ethnic divisions in the country.

However, even as he vowed decisive action against perpetrators of violence, Tinubu cautioned Nigerians against politicising insecurity or attaching criminality to any ethnic group.

“At a time like this, let us not assign blame or point fingers. Crime has no ethnicity,” the President said.

Rather than succumb to mutual suspicion, President Tinubu urged Nigerians to unite against a common enemy.

“We must stand united and be assured that the enemies of our nation shall soon be history,” he declared.

The President expressed confidence that Nigeria would ultimately overcome its security challenges and emerge stronger.

“We will triumph over terror and continue to build a more prosperous nation,” he said.

Even as he vowed decisive action against criminal elements, the president cautioned Nigerians against ethnic profiling and divisive narratives.

“At a time like this, let us not assign blame or point fingers. Crime has no ethnicity,” he said.

He urged citizens to remain united in confronting a common threat, insisting that terrorism and banditry would eventually be defeated.

“We must stand united and be assured that the enemies of our nation shall soon be history,” the President declared.

“We will triumph over terror and continue to build a more prosperous nation.”

Tinubu also framed the country’s current moment as a defining chapter in Nigeria’s national journey, calling on citizens to rise to the responsibilities of their time.

“Every generation has a defining responsibility. The generation of our founding fathers secured independence, and the generation of June 12 secured democracy. Our generation must secure prosperity,” he said.

In a rallying call for national renewal, the President urged Nigerians to reject pessimism and embrace a shared vision of progress.

“Let us move forward together—rejecting division, cynicism, and despair; embracing unity, hope, and confidence,” Tinubu said.

“Let us build a Nigeria united by a common purpose, strengthened by diversity, where justice is accessible, liberty is secure, and opportunity is abundant.”

 

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