The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy empowering young African entrepreneurs from all 54 African countries, has partnered with DEG, the German development financial institution supporting the private sector in emerging-market countries, to empower an additional 200 entrepreneurs across Africa.
The initiative will fund 200 additional young African entrepreneurs complementing the US$100m Tony Elumelu Foundation Entrepreneurship Programme that has identified, trained, mentored and funded over 9,000 entrepreneurs from all 54 African countries since 2015. The partnership will also help to scale TEFConnect, the Foundation’s proprietary digital platform supporting African entrepreneurs and provide platform access to an additional 500,000 SMEs. The initiative is co-financed by DEG with 1.5 million Euro from the develoPPP Program funded by the German Federal Ministry for Economic Cooperation and Development (BMZ).
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