The Tony Elumelu
Foundation (TEF) on Tuesday, March 22, 2016 announced the selection of 1,000
entrepreneurs for the 2nd round of the Tony Elumelu Entrepreneurship Programme

Tony Elumelu (CON), Chairman, UBA Plc 

Founded in 2010 by
Tony O. Elumelu CON, Chairman of UBA Plc, the Tony Elumelu Foundation is a
foremost African philanthropic organisation.
Launched in 2015,
TEEP is the largest African philanthropic initiative devoted to
entrepreneurship and represents a 10-year, $100 million commitment, to identify
and empower 10,000 African entrepreneurs, create a million jobs and add $10
billion in revenues to Africa’s economy.
Over 45,000
entrepreneurs from 54 African countries applied, more than doubling the number
of applications received in 2015.
Successful candidates represent diverse industries, led by agriculture,
ICT and fashion. The highest numbers of applicants came from Nigeria, Kenya,
Ghana, Uganda and Cameroon. All five regions – North, East, Southern, Central
and West Africa are represented.
Founder, Tony O.
Elumelu, CON, commented: “In TEEP’s first year we spent over $8 million of our
$100 million commitment – with $5 million going directly to entrepreneurs as
seed capital — and the results have far exceeded our expectations. We have
funded entrepreneurs, established networks and helped extraordinary people take
control of their destinies. The 2016 Tony Elumelu Entrepreneurs will become a
generation of newly empowered African business owners, who are the clearest
evidence yet, that indigenous business growth will drive Africa’s economic and
social transformation.”
Over the next nine
months, the 2016 cohort will receive the intensive online training, networking
and mentoring, that provide a tool kit for success and sustainability. They
will also participate in the three-day Elumelu Entrepreneurship Forum later in
the year, the largest annual gathering of African entrepreneurial talent.
Parminder Vir OBE,
CEO of The Tony Elumelu Foundation, said: “We saw phenomenal success with the
first cycle of TEEP – the success stories of the TEEP 2015 alumni are a
testament to the transformative power of the programme we have built. Through
TEEP, we are proving to the next generation of entrepreneurs that their ideas
can change their communities, their countries and their continent.”
For a full list of
the selected Tony Elumelu Entrepreneurs for TEEP 2016, click here: 


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