According to the press statement from the foundation, the programme provides critical tools for business success, including: training, mentoring, funding and networking.
The programme, in its 4th cycle, is TEF’s 10-year, $100 million commitment to identify, train, mentor and fund 10,000 African entrepreneurs by 2024.
TEF Founder, serial entrepreneur and philanthropist Tony O. Elumelu, CON said: “When we launched the TEF Programme and committed $100 million to empowering Africa’s entrepreneurs, I knew we would create impact, but I never imagined it would be impact of this magnitude.
We have unleashed a movement of African entrepreneurs -- a force so strong, so inspiring, that I am confident they will collectively transform Africa. We need Africa’s best and brightest entrepreneurs to come learn, grow their businesses and build our continent.”
1,000 entrepreneurs will be selected based on the viability of their idea, including: market opportunity; financial understanding; scalability; and leadership and entrepreneurial skills demonstrated in the application.
CEO of the Foundation, Parminder Vir OBE said: “We encourage women, French and Portuguese speakers to apply. Our 3,000 alumni are already growing their businesses and improving lives. If you have a transformational business or an idea, we have an opportunity for you.”
Some of Malawi young entrepreneurs who have benefited from the TEF programme include Lombola wa Lombola, Vitumbiko Zgambo and Alexious Ng’ambi.