Tony O. Elumelu has congratulated the African Development Bank (AfDB) President Akinwumi Adesina, on his commitment to African entrepreneurship, with the disbursement of $2.5 million to the AfDB-sponsored beneficiaries of the 2019 TEF Entrepreneurship Programme.
The cash was released, with the remainder expected to be disbursed to the entrepreneurs in first quarter of 2020.
The AfDB commitment follows the recent $8.5 million disbursement from the United Nations Development Programme (UNDP) to 2,648 entrepreneurs in the Sahel region and Africa, and further accelerates the empowerment generated by the Tony Elumelu Foundation (TEF).
Last year, the Foundation increased the scale and reach of it impact, with the number of beneficiaries of its flagship Entrepreneurship Programme rising from its annual commitment of 1,000, to 5,150, in collaboration with global and African partners.
The Foundation is currently accepting applications to the 2020 cohort of its flagship Entrepreneurship Programme on TEFConnect.com, Africa’s digital hub for entrepreneurs.