Tony Elumelu Foundation and UAE’s Khalifa Bin Zayed Al Nahyan Foundation Join Forces to Empower 1,000 African Entrepreneurs
The Tony Elumelu Foundation (TEF), a leading advocate for African entrepreneurship, has announced a landmark $6 million partnership with the UAE Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation, an affiliate of Erth Zayed. This collaboration aims to equip 1,000 African entrepreneurs with essential business training, mentorship, networking opportunities, and a non-repayable $5,000 seed grant.
The agreement, signed during the World Governments Summit by Tony O. Elumelu, Founder of TEF, and His Excellency Mohamed Haji Al Khoori, Director General of the Khalifa Bin Zayed Al Nahyan Foundation, underscores a shared vision of fostering economic growth and self-sufficiency across Africa. By leveraging TEF’s extensive experience in supporting startups through its flagship Tony Elumelu Entrepreneurship Programme, this partnership seeks to create a new wave of sustainable enterprises that will contribute to job creation and economic transformation.
Speaking at the event, Tony Elumelu emphasized the importance of investing in African entrepreneurs:
“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.
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.”
His Excellency Mohamed Haji Al Khoori echoed this sentiment, stating:
“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 its inception in 2015, the Tony Elumelu Foundation has trained over 2.5 million young Africans through its digital hub, TEFConnect, and disbursed more than $100 million in direct funding to over 21,000 entrepreneurs. These efforts have led to the creation of over 1.5 million jobs and lifted millions out of poverty. The foundation has also partnered with global organizations such as the European Union, UNDP, ICRC, and the IKEA Foundation.
This new alliance with the Khalifa Bin Zayed Al Nahyan Foundation marks the first collaboration between TEF and a Gulf-based philanthropy, further strengthening the economic, diplomatic, and cultural ties between Africa and the GCC region. By investing in Africa’s next generation of entrepreneurs, the partnership aims to drive long-term economic progress and build a thriving entrepreneurial ecosystem across the continent.
Source: Nairametrics
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