Tony Elumelu Foundation, UAE’s Khalifa bin Zayed Foundation sign $6m partnership
..Set to empower 1,000 African entrepreneurs
By Seun Ibiyemi
The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy dedicated to empowering entrepreneurs, has signed a strategic $6 million partnership with the UAE Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation.
The agreement, sealed at the World Governments Summit, will provide business training, mentorship, networking opportunities, and $5,000 in seed capital to 1,000 young African entrepreneurs.
The signing was officiated by TEF Founder, Tony O. Elumelu, and His Excellency Mohamed Haji Al Khoori, Director General of the Khalifa Bin Zayed Al Nahyan Foundation.
The partnership highlights a shared commitment to economic empowerment and entrepreneurship as a means to drive sustainable growth across Africa.
Tony Elumelu emphasised the importance of supporting African entrepreneurs, stating, “Empowering entrepreneurs is not just a moral imperative, but a strategic investment in Africa’s future. By providing capital, mentorship, and resources, we are unlocking the continent’s entrepreneurial potential, eradicating poverty, and fostering inclusive economic growth.”
His Excellency Mohamed Haji Al Khoori echoed this sentiment, reinforcing Erth Zayed’s mission to create impactful partnerships that promote sustainable business growth and uplift communities.
This partnership marks the first collaboration between TEF and a Gulf-based philanthropy, strengthening ties between Africa and the Gulf Cooperation Council (GCC).
The Khalifa Bin Zayed Al Nahyan Foundation will leverage TEF’s proven expertise in entrepreneurship development through its flagship Tony Elumelu Entrepreneurship Programme (TEEP), which has already supported over 21,000 African entrepreneurs and helped create more than 1.5 million jobs.
Since its launch in 2015, TEF has provided up to 2.5 million young Africans with training on its digital hub, TEFConnect, and disbursed over $100 million in funding. TEF has also collaborated with global partners, including the European Union, UNDP, ICRC, and IKEA Foundation, to scale its impact.
TEF is currently accepting applications from African entrepreneurs with innovative business ideas or existing businesses (not older than five years). Interested applicants can apply via TEFConnect before the March 1, 2025, deadline.
For more details, visit the TEF Impact Page and explore the success stories of past TEF beneficiaries transforming communities across Africa.
