Africa’s entrepreneurship drive has received a fresh boost following the unveiling of 3,200 beneficiaries under the Tony Elumelu Foundation (TEF) Entrepreneurship Programme, underscoring a growing shift towards private sector-led development.
The 12th cohort, announced on March 22, includes 14 Kenyan entrepreneurs, highlighting the country’s continued emergence as a regional hub for innovation and enterprise.
Expanding an entrepreneurship model
The programme was launched in 2010 by Nigerian investor Tony O. Elumelu with a commitment to empower African entrepreneurs through funding, mentorship and training.
Initially targeting 10,000 entrepreneurs, the initiative has since expanded significantly, evolving into one of the continent’s largest entrepreneurship support platforms.
It is anchored on the idea that Africa’s long-term economic transformation will be driven by its people, particularly small and medium-sized enterprises.
Measurable impact
Since inception, the foundation says it has disbursed over $100 million in seed capital to more than 24,000 entrepreneurs across Africa.
Supported businesses have collectively generated about $4.2 billion in revenue, created 1.5 million jobs and contributed to lifting over 2.1 million people out of poverty.
The programme also reports that about 80 percent of funded businesses progress beyond the early stages, outperforming many global startup benchmarks.
Kenya’s representation
The selection of 14 Kenyan entrepreneurs reflects activity across sectors including agribusiness, technology, manufacturing and the creative economy.
Analysts link Kenya’s consistent representation in such programmes to its relatively developed startup ecosystem, growing digital economy and access to regional markets.
Each selected entrepreneur will receive $5,000 (approximately Sh650,000) in non-refundable seed capital, alongside business training, mentorship and access to a continent-wide network of entrepreneurs and investors.
Shifting development approach
The TEF model continues to gain traction as African economies increasingly look to entrepreneurship as a driver of inclusive growth and job creation.
By combining capital with structured support, the programme aims to improve business survival rates and scale enterprises beyond their early stages.
As the latest cohort begins implementation, Kenya’s inclusion points to the country’s sustained role in shaping Africa’s evolving entrepreneurial landscape.