The Tony Elumelu Foundation has unveiled its 2026 entrepreneurship cohort, selecting 3,200 entrepreneurs from a massive pool of 265,000 applicants across 54 African countries. The announcement took place in Abuja, where founder Tony O. Elumelu revealed the latest beneficiaries of the flagship programme.
Notably, seven entrepreneurs from North Africa secured positions in this year’s highly competitive selection. Tunisia produced three successful candidates, while Morocco and Egypt each contributed two entrepreneurs. These founders operate across technology, education, agribusiness and professional services. More importantly, they reflect a rising wave of innovators tackling critical socio-economic challenges in their regions.
Ernst & Young independently conducted the selection process. As a result, the chosen entrepreneurs rank among the most rigorously vetted early-stage founders on the continent. This credibility continues to strengthen the programme’s reputation as Africa’s leading entrepreneurship initiative.
Meanwhile, the 2026 cohort delivers a strong gender milestone. Women account for 51 percent of selected participants, marking a significant shift in Africa’s startup ecosystem. They earned their positions based on merit, driven by strong business ideas, clear execution strategies and bold visions. Consequently, this achievement highlights the growing influence of female entrepreneurs across Africa.
In total, the foundation supports 3,200 entrepreneurs through multiple partnerships. Heirs Holdings Group companies—Heirs Energies, Transcorp Power, Transcorp Hotels and United Capital—are funding 1,751 entrepreneurs. Additionally, global partners such as the European Commission, OACPS, BMZ and GIZ are backing 1,049 entrepreneurs.
Furthermore, other strategic collaborations expand the programme’s reach. The Sèmè City Development Agency, DEG, the IKEA Foundation, UNICEF’s Generation Unlimited, the Dutch Government, UNDP and the Rwandan Ministry of Youth and Arts collectively support 400 entrepreneurs. These partnerships continue to drive inclusive growth and innovation across the continent.
Each selected entrepreneur will receive $5,000 in non-refundable seed capital. They will also gain access to world-class training via TEFConnect, personalised mentorship and a robust network of investors and business leaders. As a result, participants are better positioned to scale sustainable businesses.
In his annual message titled “A Story of Hope,” Elumelu emphasised the importance of opportunity creation. He explained that luck can be engineered and that systems can be built to democratise access to success. His message reinforces the foundation’s long-term vision of empowering African entrepreneurs to transform the continent.
Over the years, the Tony Elumelu Foundation has delivered measurable impact. It has trained more than 2.5 million young Africans and disbursed over $100 million in seed funding to 24,000 entrepreneurs. Collectively, these businesses have generated $4.2 billion in revenue and created over 1.5 million jobs.
Moreover, the programme has lifted 2.1 million Africans out of poverty while impacting more than 4 million households. With 46 percent of supported entrepreneurs being women, the foundation continues to promote gender inclusion. Impressively, 80 percent of TEF-backed businesses survive and scale, outperforming global averages.
As Africa’s entrepreneurial ecosystem evolves, the 2026 cohort signals a new era of innovation, inclusion and economic transformation. North Africa’s growing representation further underscores the continent-wide reach and impact of the Tony Elumelu Foundation.
