The Tony Elumelu Foundation (TEF), a leading philanthropy empowering young African entrepreneurs has signed a $6million partnership agreement with the UAE Office of Development Affairs and Khalifa Bin Zayed Al Nahyan Foundation to provide business training.
The partnership will also include mentorship, access to networks, and non-refundable $5,000 seed capital, to an additional 1,000 young African entrepreneurs.
The agreement signed, at the World Governments Summit, by TEF Founder, Tony O. Elumelu, and the Director General of the Khalifa Bin Zayed Al Nahyan Foundation, Mohamed Haji Al Khoori, evidences both organisations’ shared commitment to fostering economic empowerment and entrepreneurship across Africa.
Through this partnership, the Khalifa Bin Zayed Al Nahyan Foundation will leverage the Tony Elumelu Foundation’s expertise and execution ability in catalysing entrepreneurship through the Tony Elumelu Entrepreneurship Programme, which has pioneered business management training, mentorship, and capital funding for African entrepreneurs.
The Khalifa Bin Zayed Al Nahyan Foundation affiliated with Erth Zayed, has a long-standing commitment to humanitarian and developmental projects, focusing on education, healthcare, economic empowerment, and enterprise development.
“Empowering entrepreneurs is not just a moral imperative, but also a strategic investment in Africa’s future. By providing the necessary access to capital, mentorship, and resources, we are unlocking the potential of Africa’s entrepreneurial talent, eradicating poverty, driving self-reliance, and paving the way for inclusive growth and prosperity on the continent,” Elumelu said.
“This partnership between the Tony Elumelu Foundation and the Khalifa Bin Zayed Al Nahyan Foundation not only reflects our shared vision of empowering Africa’s next generation of business leaders, but will also create a ripple effect of economic transformation across the continent.”
Mohamed Haji Al Khoori added, “Erth Zayed’s mission is to foster impactful partnerships that drive humanitarian and developmental progress. Supporting young African entrepreneurs aligns with our goal of strengthening economies and building sustainable businesses that uplift communities.”
Since the launch of the TEF Entrepreneurship Programme in 2015, the Tony Elumelu Foundation has provided access to business training for up to 2.5 million young Africans through its digital hub, TEFConnect, and has disbursed over USD $100 million in direct funding to more than 21,000 African entrepreneurs.
These entrepreneurs have collectively created over 1.5 million direct and indirect jobs, driving economic growth across the continent. Through its initiatives, the Foundation has lifted 2 million Africans out of poverty.
Notably, in Uganda, over 1,200 young entrepreneurs have directly benefited from the TEF Entrepreneurship Programme, fueling business growth, innovation, and job creation across the country.
In addition to its self-funded programmes, TEF collaborates with international partners, including the EU, UNDP, ICRC, and IKEA Foundation, to further expand its impact.
The partnership with the Khalifa Bin Zayed Al Nahyan Foundation marks TEF’s first collaboration with a Gulf-based philanthropy, strengthening the investment, diplomatic, and cultural ties between the GCC and Africa.
The Tony Elumelu Foundation is currently accepting applications from young entrepreneurs across Africa with innovative business ideas or existing businesses not older than five years on TEFConnect.
