The Tony Elumelu Foundation (TEF) has finalized a strategic partnership agreement worth USD $6 million with the UAE Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation. This collaboration aims to provide business training, mentorship, and access to networks, as well as non-refundable seed capital of $5,000 to an additional 1,000 young African entrepreneurs.

The agreement was signed on February 12, 2025, during the World Government Summit in the United Arab Emirates. TEF is recognized for its philanthropic efforts to empower young entrepreneurs across all 54 African countries. The signing ceremony included TEF Founder Tony O. Elumelu and H.E. Mohamed Haji Al Khoori, the Director General of the Khalifa Bin Zayed Al Nahyan Foundation, highlighting their mutual commitment to economic empowerment and entrepreneurship in Africa.

Through this partnership, the Khalifa Bin Zayed Al Nahyan Foundation will utilize TEF’s expertise in catalyzing entrepreneurship via the Tony Elumelu Entrepreneurship Programme. This program has been instrumental in providing business management training, mentorship, and funding for African entrepreneurs.

The Khalifa Bin Zayed Al Nahyan Foundation is a distinguished philanthropic organization affiliated with Erth Zayed, and it has a strong commitment to humanitarian and developmental projects. Its focus areas include education, healthcare, economic empowerment, and enterprise development.

Tony Elumelu stated that empowering entrepreneurs is not only a moral responsibility but also a strategic investment in Africa’s future. He emphasized that by providing capital, mentorship, and resources, they aim to unlock Africa’s entrepreneurial potential, eradicate poverty, and foster inclusive growth across the continent.

H.E. Mohamed Haji Al Khoori added that Erth Zayed’s mission is to create impactful partnerships that drive humanitarian and developmental progress. He noted that supporting young African entrepreneurs aligns with their goal of strengthening economies and building sustainable businesses that uplift communities.

Since the inception of the TEF Entrepreneurship Programmes in 2015, the foundation has provided up to 2.5 million young Africans with access to training through its digital platform, TEFConnect. Additionally, it has disbursed over USD $100 million in direct funding to more than 21,000 African entrepreneurs, resulting in the creation of over 1.5 million direct and indirect jobs.

Through its initiatives, the Tony Elumelu Foundation has successfully lifted 2 million Africans out of poverty. In addition to its self-funded programmes, TEF collaborates with various international partners, including the EU, UNDP, ICRC, and the Ikea Foundation. The partnership with the Khalifa Bin Zayed Al Nahyan Foundation marks the first collaboration with a Gulf-based philanthropic organization, showcasing the strengthening ties between the GCC and Africa.

TEF is currently accepting applications from young entrepreneurs across Africa who have innovative business ideas or existing businesses not older than five years. Interested applicants can apply via TEFConnect, with the deadline set for March 1, 2025. For further details on the foundation’s impact and the success stories of past beneficiaries, individuals can visit the TEF Impact Page.