The Tony Elumelu Foundation (TEF) has signed a $6 million strategic partnership agreement with the UAE Office of Development Affairs and Khalifa Bin Zayed Al Nahyan Foundation. This partnership aims to provide business training, mentorship, access to networks, and non-refundable $5,000 seed capital to an additional 1,000 young African entrepreneurs.
The agreement was signed at the World Governments Summit in Dubai by TEF Founder, Tony Elumelu, and the Director General of the Khalifa Bin Zayed Al Nahyan Foundation, Mohamed Haji Al Khoori. This partnership reflects the shared commitment of both organizations to fostering economic empowerment and entrepreneurship across Africa.
Through this partnership, the Khalifa Bin Zayed Al Nahyan Foundation will leverage the TEF’s expertise and execution ability in catalyzing entrepreneurship through the Tony Elumelu Entrepreneurship Programme. This program has pioneered business management training, mentorship, and capital funding for African entrepreneurs.
The Khalifa Bin Zayed Al Nahyan Foundation has a long-standing commitment to humanitarian and developmental projects, focusing on education, healthcare, economic empowerment, and enterprise development. According to Elumelu, empowering entrepreneurs is not just a moral imperative but also a strategic investment in Africa’s future.
By providing access to capital, mentorship, and resources, the partners aim to unlock the potential of Africa’s entrepreneurial talent, eradicate poverty, drive self-reliance, and pave the way for inclusive growth and prosperity on the continent.
Since its launch in 2015, the TEF Entrepreneurship Programme has provided training to 2.5 million young Africans and disbursed over $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.
The Tony Elumelu Foundation has brought two million Africans out of poverty through its initiatives. In addition to its self-funded programs, TEF works with international partners, including the EU, UNDP, ICRC, and Ikea Foundation.
The partnership with the Khalifa Bin Zayed Al Nahyan Foundation marks the first collaboration with a Gulf-based philanthropy, highlighting the strong investment, diplomatic, and cultural ties between the GCC and Africa.
