ELIGIBILITY:

Open to Africans from all 54 African countries with scalable business ideas or a business that has been operational for no more than 5 years.

Applicants must be 18 years of age and above or considered above the age of minors in their country.

The programme is not open to research institutions, faith based organisations, value adding trading companies, government contractors and businesses not located in Africa.

All businesses must be business ideas or an early stage company, in the range of 0 to 5 years old.

Your application must focus on ONE business only. We advise choosing your best, most feasible/innovative business idea. Selected entrepreneurs are not permitted to apply for future cohorts of the programme, even with a different business or business idea.

Current employees or their family members from the Tony Elumelu Foundation and affiliate companies in the Heirs Holdings Group and UBA Group are not eligible to apply for the TEF Entrepreneurship Programme, either individually or as part of a team.

All shortlisted participants are required to open business accounts in your registered business name. They DO NOT pay seed capital into individual or corporate accounts.

The final selected beneficiaries who are from the countries where UBA is present will open business accounts in any UBA branch located in the country WHILE the beneficiaries from countries where UBA is not present will open business accounts with reputable commercial banks recommended by TEF.

BENEFIT:

The funds will be wired directly into the entrepreneur’s business bank account – personal accounts are not permissible.  For those in UBA countries, the business account must be opened with UBA.

The initial seed capital funding is fixed at $5,000.

Seed capital is disbursed to entrepreneurs who have received the training and mentorship and meet certain participatory guidelines and objectives. Register on TEFConnect for more information, www.tefconnect.net