The Tony Elumelu Foundation has selected 3,200 young entrepreneurs from across Africa for its 2026 Entrepreneurship Programme, marking another major step in its drive to support business growth on the continent.
Chief Executive Officer of the foundation, Somachi Chris-Asoluka, described the new cohort as a significant milestone in the organisation’s 12-year journey, noting that this year’s selection reflects one of its most inclusive intakes in terms of gender and geographic spread.
Speaking during a virtual media briefing, she said the programme continues to prioritise equal opportunity for entrepreneurs across the continent, regardless of background or location.
According to her, the 2026 edition has been designed to align with global trends, with a strong focus on artificial intelligence and climate resilience.
She explained that participants are being equipped with AI-driven skills and green business training to help them remain competitive in a rapidly evolving global market.
Chris-Asoluka stressed that entrepreneurship remains key to addressing unemployment and driving economic growth in Africa, adding that the foundation is committed to its Africapitalism philosophy of empowering businesses to create lasting prosperity.
The selected entrepreneurs will receive a $5,000 non-refundable seed grant, alongside mentorship, training, and access to a wide alumni network.
The programme will also be implemented in partnership with international organisations, including the United Nations Development Programme and other global partners.
She revealed that about 75 per cent of businesses supported by the foundation are still operational after five years, significantly outperforming global startup survival rates. This, she said, is due to the foundation’s continued support beyond initial funding.
Chris-Asoluka also highlighted the foundation’s advocacy efforts, noting that it regularly engages policymakers to address structural challenges such as poor electricity supply and inadequate infrastructure, which continue to hinder small businesses.
As preparations continue for the official unveiling of the beneficiaries, the foundation said it remains focused on sectors with high growth potential, including agriculture, healthcare, retail and the green economy.
She encouraged unsuccessful applicants to remain persistent, noting that many of the foundation’s most successful entrepreneurs were admitted after multiple attempts.
The foundation added that the new cohort represents a new generation of African entrepreneurs expected to drive innovation and economic transformation across the continent.
