The Tony Elumelu Foundation (TEF) has signed a $6 million strategic partnership agreement with the United Arab Emirates (UAE) Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation, an affiliate of Erth Zayed.

This partnership aims to provide business training, mentorship, access to network and non-refundable seed capital of $5,000 to an additional 1,000 young African entrepreneurs.

The agreement was signed at the World Government Summit by TEF Founder, Tony Elumelu, and the Director General of the Khalifa Bin Zayed Al Nahyan Foundation, Mohamed Haji Al Khoori.

Speaking on the partnership, Elumelu highlighted its significance as the first collaboration between TEF and a Gulf-based organisation. He said the partnership underscores both organisations’ shared commitment to fostering economic empowerment and entrepreneurship across Africa.

Elumelu said through this partnership, the Khalifa Bin Zayed Al Nahyan Foundation will leverage TEF’s expertise and execution capabilities in catalysing entrepreneurship through the Tony Elumelu Entrepreneurship Programme. He said this initiative has been instrumental in pioneering business management training, mentorship, and capital funding for African entrepreneurs.

https://guardian.ng/business-services/business/tef-signs-6m-deal-to-empower-1000-young-african-entrepreneurs/