FUNDING: Tony Elumelu Entrepreneurship Programme 2019 for Africans

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The Tony Elumelu Entrepreneurship Programme is the largest inititaive to support young entrepreneurs in Africa, with funding and mentorship.

It has the goal of assisting 10,000 entrepreneurs. 2019 is the only the 5th call for application for this, The Tony Elumelu Entrepreneurship Programme. It is open to all citizens and legal residents of African countries as long as their businesses are registered and operate in the continent.

Last year, over 70 Kenyans were picked for the initiative. Only Nigeria and Uganda had more entrepreneurs representing. You can check the list of Kenyans who were selected.

What exactly would you gain if you were selected? There is a first stage with seed capital funding of sh.510,000 ($5,000). The funding is basically a grant. You would need to complete a 12-week enterprise learning program, have your business plan certified and present required documents and information.

A second stage of funding also happens. But this is a returnable investment on entrepreneurs who apply for it and meet the necessary conditions – as will be revealed.

Applications will be judge on:

  1. Feasibility of your business idea
  2. Market opportunity
  3. Basic financial understanding of running a business
  4. Potential for replication, growth of your product or service
  5. Leadership skills demonstrated in entrepreneurship, mobilization of resources, etc.

Deadline to apply for the Tony Elumelu Entrepreneurship Programme is 1st March, 2019. Application is completed online on the TEF CONNECT digital platform for entrepreneurs. If you don’t have an account yet, you can sign up and apply.

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