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2024 TEF: Tony Elumelu Foundation Entrepreneurship Program For African Entrepreneurs (seed capital $5,000)


Since its establishment in 2015, the TEF Entrepreneurship Programme stands out as a unique catalyst for African entrepreneurship. This initiative, funded exclusively by Africa, has successfully empowered 15,847 entrepreneurs on the continent. Participants receive a non-refundable seed capital of $5,000 each, undergo twelve weeks of comprehensive business management training, gain access to seasoned mentors, and become members of Africa’s largest entrepreneurial ecosystem.


TEEP is inclusive, welcoming startups and entrepreneurs from all 54 African countries, specifically those based on the continent. The program has a significant value of $100 million, dedicated to supporting 10,000 startups and entrepreneurs.

The Tony Elumelu Foundation (TEF) is currently inviting applications for the Tony Elumelu Entrepreneurship Program (TEEP), a $100 million initiative aimed at fostering Pan-African business ventures led by young entrepreneurs with innovative ideas that can positively impact Africa.

Successful applicants will become part of the TEF Entrepreneurship Program, which is a decade-long, $100 million commitment by TEF to train, mentor, and provide resources for 10,000 African entrepreneurs across every African nation.



The application window is currently open and will continue to accept entries until March 1.



The Tony Elumelu Entrepreneurship Program (TEEP) offers funding opportunities for entrepreneurs who successfully complete the 12-week Start-up Enterprise Toolkit program. To qualify for the initial stage non-refundable seed capital of $5,000, participants must submit a business plan, necessary documentation, and maintain a business account.



Upon successful completion of the program, all startups are eligible for financing, which is divided into two stages;

The first stage:

This involves seed capital funding of $5,000, provided as a non-refundable investment during the 12-week Start-up Enterprise Toolkit program, subject to the submission and review of a business plan. For further details, please refer to the Terms and Conditions.

The second stage:

The Second stage capital ‘venture’ of $5,000 – for qualifying new companies that have advanced their marketable strategies adequately. This is organized as a convertible advance.

Qualification Requirements for the 2024 TEF Program:

  • Businesses must be located in Africa
  • Businesses should be for-profit
  • Businesses should be between 0 to 3 years old
  • Applicants should be at least 19 years old and a legal resident or citizen of an African country


Selection criteria: 

  • Market Potential: Comprehensive knowledge and understanding of the market, customers, and competitors relevant to their idea or business.
  • Financial Acumen: Understanding the fundamental financial requirements involved in operating a business, including costs and revenues.
  • Versatility: Displaying the potential for replicating and expanding their product or service to generate employment opportunities and wealth.
  • Leadership Potential and Entrepreneurial Skills: Demonstrating leadership potential, with the ability to engage people, customers, and resources.

Apply Here