Meet the Billionaire Whose $100M Program Will Create 10,000 Black Entrepreneurs In 10 Years

- Advertisement -
- Advertisement -
- Advertisement -

Tony Elumelu, a Nigerian billionaire entrepreneur, investor, and philanthropist, launched a 10-year entrepreneurship program worth $100 million in 2015 with a goal to support 10,000 entrepreneurs across Africa. Now in its 5th year, the program has already helped more than 7,500 entrepreneurs of African descent.

- Advertisement -

The Tony Elumelu Foundation Entrepreneurship Program, an initiative of the leading foundation philanthropic institution in Africa, is committed to providing training, mentoring, and funding to empower entrepreneurs across Africa. In the long run, the program is expected to create at least 1,000,000 new jobs and contribute $10 billion in annual revenues to Africa’s economy.

The program has since received over 300,000 applications. The selected ones participate in a comprehensive program including a customized 12-week business skills training course, mentoring, an entrepreneurship ‘boot camp’ as well as seed capital funding.

Tony Elumelu, a billionaire who dominated the industry of banking, energy, investments, and real estate, backed the $100 million grant. His economic philosophy of Africapitalism and his goal to give opportunities for a new generation of African entrepreneurs inspired the program.

“The opportunity and challenge in Africa is scale — in our people, our resources and our horizons. In my business and philanthropic journeys, I have always sought ways to help inspire a generation across our continent. This programme brings together my own entrepreneurial experience and my fundamental belief that entrepreneurs — women and men across Africa — will lead Africa’s development and transform our futures,” Tony Elumelu, founder of The Tony Elumelu Foundation, said in a statement.

In the previous years, the program, which is considered the largest African philanthropic initiative committed to empowering African entrepreneurs, has helped transform several businesses and communities. It aims to reach more entrepreneurs in the coming years.

For more information about the Tony Elumelu Foundation Entrepreneurship Program, visit

- Advertisement -

Leave a Reply

Follow Us



2021 Oprah Winfrey Leadership Academy for Girls

Application Deadline:21 February 2020. The Oprah Winfrey Leadership Academy for Girls provides students in Grades 8 through 12 with an opportunity to develop their  full...

United Nations (UN) Legal Affairs 2 Months Internship

  The Administrative Law Division (ALD) in the Office of Human Resources (OHR), Department of Management Strategy, Policy and Compliance (DMSPC) internship is for two...

20 Mind-Blowing Facts About Warren Buffett

Those who knew him from the beginning, Buffett's success comes as no surprise: He was picking out stocks at 11 years old and had amassed the equivalent...

British Ecological Society Ecologists in Africa grants

This grant provides support of up to £8,000 for ecologists in Africa to carry out innovative ecological research. Objectives This grant provides support for Ecologists in...

MasterCard Foundation and Innovation Village Future of Work Accelerator Program

Application Deadline: January 31st 2020 The Innovation Village in collaboration with MasterCard Foundation is launching an Accelerator program that will support promising technology startups to...