Today, Sunday, March 22, 2026, brings a moment of celebration for leadership and African enterprise as the Tony Elumelu Foundation officially announces the 12th cohort of its widely respected Entrepreneurship Programme.

The announcement comes on the same day the foundation’s founder, Tony Elumelu, turns 63, adding even more significance to the occasion.

A Record Year for African Entrepreneurs

This year’s application cycle has set a new benchmark, showing the growing drive for innovation and economic growth across Africa.

More than 265,000 applications were submitted from entrepreneurs across all 54 African countries, making it the largest turnout in the programme’s history. After a detailed review process carried out by Ernst & Young, 3,200 entrepreneurs were selected to join the 2026 cohort.

The applications were largely concentrated in fast growing sectors such as artificial intelligence, agriculture, healthcare, and the green economy, reflecting where much of the continent’s future potential lies.

Boosting Startups Through Africapitalism

Each selected entrepreneur will receive 5,000 dollars in non refundable seed funding, bringing the total investment for this year to 16 million dollars.

Beyond financial support, participants will also benefit from structured business training through the TEFConnect platform, as well as mentorship from experienced professionals. They will also become part of a strong alumni network that has already generated billions in revenue and created over a million jobs across Africa.

Recognition from Bola Ahmed Tinubu

In a statement released by the State House, President Bola Tinubu joined others in celebrating Elumelu’s birthday and his contribution to economic development on the continent.

He described Elumelu as a leading figure in African business and praised his commitment to Africapitalism, a philosophy that encourages the private sector to drive Africa’s social and economic progress.

Strong Global Partnerships

The success of the programme continues to be supported by a wide network of international partners. Key contributors to this year’s cohort include the Heirs Holdings, which is sponsoring a large number of entrepreneurs, alongside the European Commission, OACPS, IKEA Foundation, UNICEF, UNDP, as well as the German and Dutch governments.

Driving Africa’s Future

With another cohort now unveiled, the Tony Elumelu Foundation continues to play a major role in shaping the future of entrepreneurship across Africa.

For thousands of young innovators, this opportunity represents more than funding. It is a chance to build sustainable businesses, create jobs, and contribute to the continent’s long term economic transformation.