The upcoming announcement by the Tony Elumelu Foundation will mark the unveiling of the 12th cohort of its flagship programme, which continues to support early-stage entrepreneurs across Africa with funding, training, and mentorship.
According to the foundation, this year’s programme attracted more than 265,000 applications from all 54 African countries, underscoring the strong demand for startup financing and the growing interest in entrepreneurship across the continent. Applicants largely focused on key sectors including agriculture, artificial intelligence, healthcare, and the green economy.
Under the 2026 cohort, a total of 3,200 entrepreneurs are expected to benefit through various TEF programmes implemented in partnership with global and regional organisations. These include collaborations with institutions such as the European Commission, OACPS, BMZ, GIZ, DEG, the IKEA Foundation, UNICEF’s Generation Unlimited, the Dutch Government, as well as the United Nations Development Programme and the Rwandan Ministry of Youth and Arts.
Each selected entrepreneur is expected to receive $5,000 (approximately 7 million Rwandan francs) in non-refundable seed capital, along with access to business management training through TEFConnect, personalised mentorship, and entry into a continental network of entrepreneurs, investors, and partners.
The selection process is independently conducted by Ernst & Young, ensuring a rigorous evaluation of applicants ahead of the final cohort reveal.
In Rwanda, the 100 entrepreneurs set to benefit from the 2026 cohort, will join a growing group of beneficiaries under TEF-supported initiatives. According to programme data, 300 young Rwandans have benefited from TEF-backed entrepreneurship support to date, receiving funding, training, and mentorship to launch and scale their businesses.
The Rwandan entrepreneurs have benefitted through the Aguka Ideation Entrepreneurship Programme, a partnership involving TEF, UNDP, the European Union, and the Ministry of Youth and Arts, now in its fourth edition. The programme focuses on supporting Rwandan youth to develop ventures in sectors aligned with national development priorities, including technology, agriculture, health, education, and renewable energy.
Applications for the 2026 Aguka cohort opened on November 1, 2025, and closed on January 11, 2026.
Among past beneficiaries, several Rwandan entrepreneurs have already launched impactful ventures. Naomi Iradukunda, founder of Ira EcoSolutions, developed biodegradable packaging using banana fibres, helping reduce plastic waste while creating jobs for women in Musanze District. Jean Bosco Hirwa, through AgriSmart Rwanda, introduced solar-powered irrigation systems for smallholder farmers, contributing to improved agricultural productivity and food security. Meanwhile, Keza Umutoni expanded her Kigali-based startup Tech4Teens, a digital literacy initiative that has trained more than 500 secondary school students in coding and digital skills.
Across Africa, TEF continues to position entrepreneurship as a key driver of economic transformation. Since its inception, the Foundation has empowered over 2.5 million young Africans through its TEFConnect platform, disbursed more than $100 million in seed capital, and supported over 24,000 entrepreneurs who have collectively created millions of jobs and generated billions in revenue.
Speaking ahead of the announcement, TEF Founder Tony O. Elumelu reiterated the Foundation’s commitment to supporting young entrepreneurs, noting that empowering business creators remains central to Africa’s long-term economic growth.
“The future of Africa will be built by Africans who create businesses, generate jobs and solve the challenges of our continent. At the Tony Elumelu Foundation, we believe that empowering entrepreneurs is the most sustainable path to Africa’s economic transformation,” Elumelu said, adding, “I look forward to announcing and congratulating the 2026 cohort and witnessing the impact they will create across the continent.”
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