A Case Study of the Tony Elumelu Foundation Entrepreneurship Programme
An entrepreneur, a businessman, and a philanthropist, Tony O. Elumelu CON founded the Tony Elumelu Foundation (TEF) in 2010 as the philanthropic arm of Heirs Holdings, an African investment firm. The overarching aim was to promote entrepreneurship throughout the African continent with a special focus on young and emerging entrepreneurs. Its mission is to “catalyse economic and social development in Africa”. Tony Elumelu coined the term “Africapitalism” to enable a narrative focused on “African development by Africans”, and the belief “that the private sector’s role is crucial for Africa’s development”. Africapitalism also stresses the importance of regional connectivity and the development of Pan-African networks.