Tony Elumelu Foundation Partners with UAE Office of Development Affairs, Khalifa Bin Zayed Al Nahyan Foundation to Empower Additional 1000 Young African Entrepreneurs
The Tony Elumelu Foundation (TEF) has signed a $6 million partnership with the UAE Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation to provide 1,000 young African entrepreneurs with business training, mentorship, access to networks, and $5,000 in seed funding.
The Tony Elumelu Foundation (TEF), the foremost philanthropic organization dedicated to empowering young African business owners across all 54 African nations, has today finalized a $6 million strategic alliance with the UAE Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation (a subsidiary of Erth Zayed). This collaboration aims to equip an additional 1,000 African entrepreneurs with business training, mentorship, access to strategic networks, and a non-repayable $5,000 seed investment.
The agreement, formalized at the World Governments Summit, was signed by TEF Founder, Tony O. Elumelu, and His Excellency Mohamed Haji Al Khoori, the Director General of the Khalifa Bin Zayed Al Nahyan Foundation. This partnership underscores both institutions' mutual commitment to advancing economic empowerment and entrepreneurship across the African continent.
Through this initiative, the Khalifa Bin Zayed Al Nahyan Foundation will tap into the Tony Elumelu Foundation’s expertise and execution capabilities in fostering entrepreneurship via the Tony Elumelu Entrepreneurship Programme. This program has been instrumental in delivering business management training, mentorship, and financial backing to emerging African entrepreneurs. The Khalifa Bin Zayed Al Nahyan Foundation, a reputable philanthropic entity affiliated with Erth Zayed, has a rich history of investing in humanitarian and developmental programs, with a core focus on education, healthcare, economic empowerment, and business development.
“Empowering entrepreneurs is not just a moral obligation but a strategic investment in Africa’s future. By providing the necessary financial support, mentorship, and access to essential resources, we are unlocking Africa’s entrepreneurial potential, combating poverty, fostering self-sufficiency, and setting the stage for inclusive economic growth and prosperity across the continent.”
This collaboration between the Tony Elumelu Foundation and the Khalifa Bin Zayed Al Nahyan Foundation is a testament to our collective vision of nurturing Africa’s next wave of business pioneers while creating a ripple effect of economic transformation,” said Tony Elumelu.
His Excellency Mohamed Haji Al Khoori added:
“Erth Zayed’s core mission is to cultivate impactful collaborations that drive humanitarian and socio-economic progress. Supporting Africa’s young entrepreneurs aligns with our broader goal of strengthening economies and establishing sustainable enterprises that uplift communities.”
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Since launching the TEF Entrepreneurship Programme in 2015, the Tony Elumelu Foundation has provided over 2.5 million young Africans with access to training via its digital hub, TEFConnect, and distributed over $100 million in direct funding to more than 21,000 African men and women. Collectively, these entrepreneurs have generated over 1.5 million direct and indirect jobs, lifting 2 million people out of poverty.
Beyond its self-funded initiatives, TEF collaborates with global partners, including the European Union (EU), United Nations Development Programme (UNDP), International Committee of the Red Cross (ICRC), and the IKEA Foundation. The agreement with the Khalifa Bin Zayed Al Nahyan Foundation is the first of its kind with a Gulf-based philanthropy and further solidifies the robust 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 ventures (not older than five years) via TEFConnect. African entrepreneurs are encouraged to apply for opportunities to receive training, mentorship, networking access, and financial support. The deadline for applications is March 1, 2025.
For more information on the Tony Elumelu Foundation’s impact across Africa and success stories from past beneficiaries, visit the TEF Impact Page and African Success Stories.
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