Tony Elumelu Foundation Announces #Teep2016 Cohort

2nd set of 1,000 African entrepreneurs joins $100m Tony Elumelu Entrepreneurship Programme

TEEP 2016 Cohort

3 Gambian entrepreneurs are among the 2nd set of 1,000 entrepreneurs for the 2016 cycle in the Tony Elumelu Entrepreneurship Programme (TEEP) initiated by the Tony Elumelu Foundation (TEF).

Launched in 2015, TEEP is the largest African philanthropic initiative devoted to entrepreneurship. The programme represents a 10-year, $100 million commitment, to identify and empower 10,000 African entrepreneurs, create a million jobs and add $10 billion in revenues to Africa’s economy.

This year, over 45,000 entrepreneurs from 54 African countries applied, nearly doubling the number of applications received in 2015.  Successful candidates represent diverse industries led by agriculture and ICT. The highest numbers of applicants came from Nigeria, Kenya, Ghana, Uganda and Cameroon, when nevertheless all five regions are represented: North, East, Southern, Central and West Africa.

Founder, Tony O. Elumelu, commented: “In TEEP’s first year we spent over $8 million of our $100 million commitment, with $5 million going directly to entrepreneurs as seed capital, and the results have far exceeded our expectations. We have funded entrepreneurs, established networks and helped extraordinary people take control of their destinies. The 2016 Tony Elumelu Entrepreneurs will become a generation of newly empowered African business owners, who are the clearest evidence yet, that indigenous business growth will drive Africa’s economic and social transformation.”

Over the next nine months, the 2016 cohort will receive the intensive online training; networking and mentoring that provide a tool kit for success and sustainability. They will also participate in the three-day Elumelu Entrepreneurship Forum later in the year, the largest annual gathering of African entrepreneurial talent.

Parminder Vir OBE, CEO of The Tony Elumelu Foundation, said: “We saw phenomenal success with the first cycle of TEEP – the success stories of the TEEP 2015 alumni are a testament to the transformative power of the programme we have built. Through TEEP, we are proving to the next generation of entrepreneurs that their ideas can change their communities, their countries and their continent.”

Gambian in the 2016 Cohort

The 3 Gambians among the 2016 cohort are:

  • Babeth Madelene Lind-Jallow – Energy/Power Generation
  • Kujeh Kah – FMCG
  • Mbadibba Jammeh Cham – Agriculture (Agri-business, Farming )

For a full list of the selected Tony Elumelu Entrepreneurs for TEEP 2016, please visit here.

About The Tony Elumelu Foundation

The Tony Elumelu Foundation is an Africa-based, African-funded philanthropic organization. Founded in 2010, TEF is committed to driving African economic growth, by empowering African entrepreneurship. The Foundation aims to create lasting solutions that contribute positively to Africa’s social and economic transformation. Through impact investments, selective grant making, and policy development, it seeks to influence the operating environment so that entrepreneurship in Africa can flourish. www.tonyelumelufoundation.org  @tonyelumeluFDN

About The Tony Elumelu Foundation Entrepreneurship Programme

The Tony Elumelu Foundation Entrepreneurship Programme represents a decade-long commitment to supporting African start-ups and entrepreneurs. We are committing $100 million to help launch an initial 10,000 entrepreneurs throughout Africa over the next 10 years, creating 1,000,000 new jobs contributing to $10 billion in revenue across Africa.

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