Renowned Entrepreneur and philanthropist, Tony Elumelu, has reaffirmed his commitment to empowering young African entrepreneurs, emphasizing that their success is essential to the continent’s sustainable transformation.

Speaking at the Legacy Builders Palm Beach Conference in Florida, U.S., Elumelu—who chairs the Tony Elumelu Foundation (TEF), UBA Group Plc, and Heirs Holdings—highlighted the foundation’s impact and called for greater global collaboration to support African youth.

Through TEF, Elumelu’s vision has translated into tangible impact. The foundation has trained 2.5 million Africans via its TEFConnect platform, provided direct funding of over $100 million to more than 21,000 entrepreneurs, and helped create 1.5 million jobs while generating $4.2 billion in revenue.

“Today, we have granted 2.5 million Africans access to training on TEFConnect, our online portal, and lifted over 2 million individuals out of poverty.  

“We have also disbursed more than $100 million in direct funding to over 21,000 beneficiaries, who have created 1.5 million jobs, and generated $4.2 billion in revenue across the continent.

“We also learned; that we can’t do it just by ourselves – our program receives over 300,000+ applications a year. So, we now work with the EU, the UN, the Red Cross – and with family foundations, we launched a program with the Ikea Foundation – they use our execution ability – we amplify the good.” He said. 

However, Elumelu acknowledged that addressing Africa’s challenges requires more than individual efforts. “We can’t do it alone,” he admitted, citing partnerships with organizations like the EU, UN, Red Cross, and the Ikea Foundation to expand TEF’s reach.

“Africa will not rise by chance—it will rise because of deliberate action, because of people who refuse to accept the status quo and choose instead to create the future we deserve, “ he added. 

Beyond financial support, he emphasized the need for mentorship, knowledge-sharing, and network-building to break systemic barriers. 

Elumelu urged global stakeholders to join the movement, reinforcing his belief that empowering African entrepreneurs is not just an economic necessity but a moral imperative. “Together, we can transform the African continent, one entrepreneur at a time.” He said.