Tony Elumelu Foundation - News Agency Of Nigeria

Tosin Kolade
Aug, Fri, 2025

Leadership Excellence Awards: Tony Elumelu voted 2025 Man of the Year

By Ebere Agozie

Mr Tony Elumelu, founder of the Tony Elumelu Foundation has been voted winner of the prestigious Man of the Year for 2025 at the 7th Leadership Excellence Awards (LEEX).

In an online voting monitored by the News Agency of Nigeria (NAN), Elumelu secured an overwhelming victory with 1,093,475 votes, significantly outpacing other distinguished nominees including Allen Onyema (634,855 votes) and A. A. Rano (185,397 votes).

NAN reports that the LEEX award, now in its seventh edition is organised by Igbere TV to recognise outstanding leadership and contributions of individuals to national development.

The selection process involves a rigorous two-stage procedure beginning with open public nominations, followed by a transparent voting process where citizens across the nation participate in selecting winners.

The awards have become a benchmark for excellence, celebrating individuals who have made remarkable impact in their respective fields.

Elumelu’s recognition is believed to be based on his transformative impact on Africa’s economic landscape through both business leadership and philanthropy.

The Tony Elumelu Foundation (TEF), established in 2010, represents his most enduring legacy.

The foundation operationalises his economic philosophy by empowering young African entrepreneurs, having committed 100 million dollars in 2015 to create the TEF Entrepreneurship Programme.

The recognition coincides with the foundation’s announcement of its 2025 entrepreneurship cohort of 3,000 entrepreneurs who will receive training, mentorship, and 5,000 dollars in seed funding each.

The award is expected to enhance the foundation’s ability to form strategic partnerships and scale its impact across Africa.

TEF alumni is said to have created over 1.5 million jobs and generated more than 4.2 billion dollars in revenue across all 54 African countries.

The foundation has 40 per cent of female entrepreneurs as beneficiaries, making significant strides in women’s economic empowerment.

The foundation’s digital platform, TEFConnect, has become Africa’s largest entrepreneurship hub with over 1.5 million registered users and have trained, mentored, and provided seed funding to over 21,000 African entrepreneurs.

Elumelu’s recognition as the 2025 LEEX Man of the Year represents a public endorsement of his two-decade commitment to transforming African economies through strategic investments and entrepreneurial empowerment.

Former past winners include Dr Godwin Maduka, 2019, Dr Godwin Maduka, 2020, Obi Cubana, 2021, Peter Obi, 2022, Abdul Rabiu, 2023 and Udom Emmanuel, 2024

The award, endorsed by the African Union and the African Film Institute is scheduled to hold in Abuja Oct. 31. (NAN)

Edited by Sadiya Hamza

Tony Elumelu Foundation grants m to 3,000 African entrepreneurs

Muhyideen Jimoh
Mar, Sun, 2025

Business

Tony Elumelu Foundation grants $15m to 3,000 African entrepreneurs

By Kadiri Abdulrahman

The Tony Elumelu Foundation (TEF) has announced a $15 million grant to support 3,000 budding entrepreneurs from 52 African countries.

TEF Founder, Mr Tony Elumelu, made this known on Sunday in Abuja during the unveiling of the 2025 cohort of the foundation’s Entrepreneurship Programme.

He stated that each beneficiary would receive a $5,000 seed grant to kick-start their businesses.

Elumelu, who is also the Chairman of Heirs Holdings, Transcorp, and United Bank for Africa (UBA), reaffirmed his commitment to empowering African entrepreneurs and transforming the continent’s economic landscape.

According to Elumelu, the foundation aims to democratise opportunity across the continent, fostering economic growth and providing young Africans with access to funding and mentorship.

“We had a vision that started in 2010; one that envisions a self-sustaining Africa, driven by the energy, vision, and resilience of young entrepreneurs.

“We understand the challenges they face in contributing to Africa’s economic transformation.

“If empowered and encouraged, these young Africans can drive meaningful change,” he said.

He noted that capital alone was not enough, highlighting the importance of business education, mentorship, and training in building successful entrepreneurs.

The entrepreneurship programme, which began in 2015, originally set out to economically empower 10,000 young Africans over 10 years, each receiving $5,000 in seed capital.

“This year marks the 15th anniversary of the foundation, and we have made a considerable impact across all 54 African countries.

“In the 21st century, Africa does not need aid; what it needs is investment in its youth,” Elumelu said.

TEF Chief Executive Officer (CEO), Somachi Chris-Asoluka, noted that since the programme’s launch in 2015, the foundation had.disbursed over $100 million to more than 21,000 young entrepreneurs across Africa.

According to Chris-Asoluka, these businesses have collectivel created 1.5 million enterprises, and generated $4.5 billion in revenue.

“Our entrepreneurs have demonstrated that ideas are the lifeblood of the African continent.

“For the 2025 cohort, we received over 200,000 applications, and from this pool, 3,000 entrepreneurs from 52 African countries will receive $15 million in funding.

“Each entrepreneur will receive a $5,000 non-refundable seed grant; this is neither a loan nor equity,” she stated.

She further assured that the foundation had a monitoring and evaluation platform in place to track progress after disbursement, ensuring that beneficiaries adhered to their approved business plans.(NAN)(www.nannews.ng)

Edited by Kevin Okunzuwa