Dubai, UAE – The Tony Elumelu Foundation (TEF) has signed a $6 million strategic partnership with the UAE Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation to empower an additional 1,000 young African entrepreneurs. The agreement, signed at the World Governments Summit by TEF Founder Tony O. Elumelu and His Excellency Mohamed Haji Al Khoori, marks a significant step in fostering economic empowerment and entrepreneurship across Africa.

Through this partnership, selected entrepreneurs will receive business training, mentorship, access to networks, and $5,000 in non-refundable seed capital. The Khalifa Bin Zayed Al Nahyan Foundation will leverage TEF’s expertise and execution ability in catalyzing entrepreneurship through the Tony Elumelu Entrepreneurship Programme (TEEP), which has pioneered business management training and capital funding for young African innovators.

“Empowering entrepreneurs is not just a moral imperative but a strategic investment in Africa’s future,” said Tony Elumelu. “This partnership will create a ripple effect of economic transformation across the continent.” His Excellency Mohamed Haji Al Khoori echoed this sentiment, stating that supporting African entrepreneurs aligns with Erth Zayed’s mission to drive humanitarian and economic development.

Since its launch in 2015, TEF has trained over 2.5 million Africans, disbursed over $100 million in funding to 21,000 entrepreneurs, and helped create 1.5 million jobs. This new partnership—the first between TEF and a Gulf-based philanthropy—further strengthens Africa-GCC ties in business, investment, and diplomacy. Applications for the 2025 TEF Entrepreneurship Programme are open until March 1, 2025, inviting young African entrepreneurs to seize this life-changing opportunity.