TEF to Announce 3,200 Entrepreneurs for 2026 Cohort as CEO Somachi Chris-Asoluka Engages African Media
By Amin Kef Sesay
The Tony Elumelu Foundation (TEF) is set to unveil its 2026 cohort of young African entrepreneurs on Sunday, March 22, following a high-level virtual media engagement led by its Chief Executive Officer, Somachi Chris-Asoluka.
Speaking during the Zoom session with journalists from across the continent, Chris-Asoluka described the TEF Entrepreneurship Programme as a transformative initiative that continues to unlock opportunities for Africa’s emerging business leaders, equipping them to build sustainable enterprises and contribute to economic growth.
She disclosed that approximately 3,200 entrepreneurs were selected from over 265,000 applications received across Africa—an indication of both the continent’s growing entrepreneurial spirit and the persistent funding gap facing small and medium-sized enterprises.
“Africa is rich in ideas and innovation,” she noted, “but there is still a pressing need for greater investment and support systems to help these businesses thrive.”
Founded in 2015 by renowned business leader Tony O. Elumelu, the TEF Entrepreneurship Programme provides selected participants with $5,000 in non-refundable seed capital, alongside business training, mentorship, and access to a robust pan-African network of entrepreneurs and investors.
Over the years, the Foundation has trained millions, funded tens of thousands of businesses, and supported job creation across diverse sectors, solidifying its position as a leading force in Africa’s entrepreneurial ecosystem.
Chris-Asoluka emphasized that TEF’s impact extends beyond financial support, focusing on long-term capacity building and fostering an enabling environment for innovation. She highlighted the role of strategic partnerships with governments, development institutions, and private sector actors in expanding the programme’s reach and effectiveness.
The interactive session also gave journalists an opportunity to engage directly with the CEO on issues including regional representation, sector priorities, and future expansion plans.
Among those who contributed was Amin Kef Sesay, Managing Editor of The Calabash Newspaper, who raised concerns about Sierra Leone’s participation. He sought details on the number of beneficiaries from the country, their sectors, and whether additional support could be directed toward smaller markets. He also emphasized the role of local media in amplifying success stories from the programme.
In response, Chris-Asoluka reaffirmed TEF’s commitment to inclusivity, stressing that selection is strictly merit-based and transparent. While she did not provide country-specific figures for Sierra Leone, she assured that entrepreneurs from smaller markets are well represented across sectors such as agriculture, technology, healthcare, education, and renewable energy.
She further revealed that the Foundation is exploring ways to deepen its footprint in underserved markets, including strengthening partnerships to increase funding, training, and visibility for entrepreneurs in countries like Sierra Leone.
On media collaboration, the CEO underscored the importance of storytelling in shaping Africa’s development narrative.
“The media is a powerful partner,” she said. “By telling authentic stories of innovation and resilience, you not only inspire others but also attract investment into local ecosystems.”
The session concluded with a dynamic question-and-answer segment, widely praised for its depth and relevance, reflecting growing media interest in entrepreneurship and development across Africa.
With anticipation building ahead of Sunday’s announcement, TEF remains steadfast in its mission to empower African entrepreneurs and drive inclusive growth—reinforcing its belief that the continent’s greatest asset lies in the ingenuity and potential of its people.
