African Foundation Empowers 3,200 Entrepreneurs in 2026

When 265,000 young Africans apply for a single entrepreneurship program, it tells you something powerful about the continent's hunger to build its own future.

The Tony Elumelu Foundation will announce its 2026 cohort of 3,200 selected entrepreneurs on March 22 at 1 pm GMT. Each winner receives $5,000 in seed capital, business training, mentorship, and access to a network of investors and fellow entrepreneurs.

The selection process, conducted independently by Ernst & Young, reviewed applications from all 54 African countries. Winners come from diverse partnerships including the European Commission, German development agencies, UNICEF, UNDP, and the Rwandan Ministry of Youth and Arts.

These 3,200 new entrepreneurs will join an alumni community that's already changing the landscape of African business. The foundation has supported over 24,000 entrepreneurs who have collectively generated $4.2 billion in revenue and created more than 1.5 million jobs.

The Ripple Effect

The numbers tell a story of transformation that reaches far beyond individual businesses. The foundation's alumni have lifted 2.1 million Africans above the poverty line and positively impacted over 4 million households across the continent.

Women are leading this economic revolution, making up 46% of supported entrepreneurs. The foundation has also trained 2.5 million young Africans through TEFConnect, its digital learning platform, and distributed over $100 million in seed capital since its founding.

"The future of Africa will be built by Africans who create businesses, generate jobs and solve the challenges of our continent," said Tony Elumelu, the foundation's founder. He sees entrepreneurship as the most sustainable path to Africa's economic transformation.

The overwhelming response to this year's program shows that young Africans aren't waiting for someone else to build their future—they're ready to create it themselves.