Tony Elumelu Foundation: 30 Cameroonians entrepreneurs in 2026 funding cohort.

The list of cohorts was published during a ceremony in Abuja, on Sunday, March 22. The Founder of TEF, acclaimed Nigerian banker and businessman, Tony Elumelu, attended the event alongside guests from other walks of life including partners.

Speaking during the event, Tony Elumelu restated his commitment to continue powering the next generation of African entrepreneurs.

Elumelu said supporting the emergence of African entrepreneurs remains the best way to address poverty across the continent. 

“Poverty anywhere is a threat to the rest of us. When we die, our accounts become useless,” he remarked, declaring that Small and Medium Sized Enterprises, SMEs, remain the best engines of job creation.

He charged beneficiaries to see themselves as ambassadors on whose shoulders Africa’s development lies. “The future is in your hands, no one but us, will help us develop Africa,” the TEF founder stated.

Who are they?

Among the 30 winners which include 12 females are; Ikose Seraphine Diale, Jean Kegale Nguelle, Joseph Kamga, Noseph IV Ndjoh Ndoh, Kanpete Kanpete, Lum Anicho, Liroy Wiraghan, Bery Wingo, Chia Seintie, Clinton Takang, Dnaiel Bekoloh, Dornell Gilistro Tchamadeu Weladji, Emmanuella Nyongo, Etinge Mabian, Fortu Sullivan Fon, Hapsato Ousmanou, Neba Binwi, Mubarak Zynulabidine,  Njimbe Lilian Nayah, Ousmanou Rabihou, Peter Abuengmoh, Princeley Kangmia Gana, Reina Kpossou, Sonita Nshari Yibir, Stephen Dave Mbangue Nkengfack, Vanessa Lum Ambe, Aichatou Saliou, Akenji Belinda Umekum, Anthony Ahanda and Vera Engowiy Check.

‘Why we choose them’

Justifying the choices, Elumelu said the grantees showed resilience even in the face of challenges. “We did not choose you because your path was easy. We chose you because you kept going when it wasn’t,” he said before declaring that: “Each selected entrepreneur will receive $5,000 in seed funding, alongside training, mentorship, and access to a continent-wide network”.

According to TEF officials, the funding is an opportunity for those chosen to build something that will last a lifetime in a context of youth unemployment and economic unpredictability.

The support, they insisted, is vital in boosting local businesses, self-employment and reduce over reliance on traditional job channels. 

Philanthropist’s impact in Cameroon

Since its inception in 2015, officials stated Sunday that the philanthropic works of Elumelu through his Foundation has contributed enormously to wealth and job creation.

Officials said beneficiaries of TEF seed capital in Cameroon have generated over $20 million (approximately 12 billion FCFA) in revenue, created over 58,000 jobs and supporters over 800 entrepreneurs.

The sectors through which such support has been invested, they said, are; retail, agriculture, technology, fintech, education, training, waste management, energy, cleantech among others.

TEF’s footprints in CEMAC

In the Central African Economic and Monetary Community, CEMAC, TEF officials also released statistics of the Foundation’s presence in powering entrepreneurship.

Beyond Cameroon, they stated that, TEF-supported entrepreneurs in Chad have an annual revenue of US dollar 17,874, 317, created 53,465 jobs with 614 beneficiaries.

Gabon it was sated, has had 78 of its nationals as beneficiaries generating an annual revenue of 2,109, 953 US dollars, creating 6,015 jobs. 45 nationals from Congo Brazzaville have benefitted, with an annual revenue of 2.471, 659 US dollars and 8,134 jobs created.

In the Central African Republic, CAR, it was announced that 29 entrepreneurs have benefitted with an annual revenue of 60,844 and 1,904 jobs created. 

Equatorial Guinea was pegged at 28 beneficiary entrepreneurs who today employ 688 persons with a revenue of 421, 991 US dollars.

The Democratic Republic of Congo, reports from TEF, indicated, has 466 entrepreneurs who have benefitted from the scheme since inception. 

They entrepreneurs, TEF officials noted, have an annual revenue of 9.042, 656.00 US dollars with a job portfolio of 37,438.

Application details, schemes impact

In an exchange with reporters Saturday March 21 in prelude to the release of the grantees, TEF Chief Executive Officer, CEO, Somachi Chris-Asoluka, disclosed that over 265,000 applications were received from all 55 nations in Africa.

Somachi indicated that, the success rate of TEF grantees remains at over 77.5 percent.  She said since 2015, TEF has invested 100 million US dollars to power 24000 entrepreneurs across Africa.

The beneficiaries, she went on, have generated over 4.2 billion US dollars in revenue, created 1.5 million direct and indirect jobs and brought millions out of poverty.

Somachi explained that TEF continues to track the entrepreneurs to support in addressing challenges where necessary.

The CEO said TEF’s founder continues to leverage on his network and meetings with African leaders to advocate policy changes and adjustments to ensure grantees thrive.

Quizzed on statistics about the performance of the entrepreneurs, Somachi, said international firms are contracted to carry out findings independent of TEF.

The article was first published in The Guardian Post Edition No:3740 of Tuesday March 24, 2026