The program is a 10-year, $100 million commitment to identify, train, mentor and fund young African entrepreneurs. The goal is to create millions of jobs and the revenue required for the sustainable development of the continent, implementing the philosophy of Africapitalism, which positions the private sector as the growth engine for Africa and emphasises the importance of creating social and economic wealth.
The Tony Elumelu Foundation is a non-profit organization founded in 2010 by Tony O. Elumelu, an entrepreneur, investor and philanthrophist who is passionate about Africa's economic development. The Foundation is headquartered in Lagos, Nigeria and is centered around Tony Elumelu’s philosophy of Africapitalism, which positions Africa’s private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the continent.
In 2015, the Foundation consolidated its various programs and initiatives and made investing in Africa’s next generation of entrepreneurs and business leaders a priority. The future of the Tony Elumelu Foundation centers on the provision of structured, robust, and multifaceted support to entrepreneurs around Africa through the Tony Elumelu Foundation Entrepreneurship Program. The vision for the Foundation is to unlock the obstacles that Africa’s entrepreneurs face as they grow their start-ups into small to medium enterprises (SMEs), their SMEs into national growth companies, and their national growth companies into African multinationals.