Harvard Business School made history by featuring the Tony Elumelu Foundation (TEF) in a groundbreaking case study, marking the first of its kind on any philanthropic organization in Africa.
The study will explore TEF’s unique strategies and transformative initiatives, showcasing how their strategic philanthropy is driving positive change and uplifting nations and communities.
This move by Harvard emphasizes TEF’s crucial role in empowering young African entrepreneurs across all 54 African countries, placing the foundation at the forefront of global discussions on transformative and catalytic philanthropy.
The event will not only delve into TEF’s innovative approaches and their significant impact but will also include an exclusive acknowledgment of TEF Founder Tony Elumelu’s economic philosophy of Africapitalism, which positions the private sector, particularly entrepreneurs, as catalysts for Africa’s social and economic development.
TEF is an African non-profit organization founded in 2010 by Nigerian businessman Tony O. Elumelu dedicated to empowering a new generation of African entrepreneurs, eradicating poverty, catalyzing job creation across all 54 African countries, and promoting inclusive economic empowerment.
Since the launch of the TEF Entrepreneurship Programme in 2015, the Foundation has trained over 1.5 million young Africans on its digital hub, TEFConnect, and disbursed over USD$100 million in direct funding to 20,000 young African women and men. These individuals have collectively created over 400,000 direct and indirect jobs. Tony Elumelu spoke about TEF’s impact on African youth, stating,
“TEF is creating economic hope and opportunity for African Entrepreneurs. We know that entrepreneurship is the antidote to poverty, youth unemployment, and insecurity.”
He emphasized the foundation’s goal of creating successful African business leaders and leaving a positive legacy for the continent. The Harvard Business School session will provide a platform for thought leaders, scholars, and business enthusiasts to engage in a meaningful discussion on the role of philanthropy in shaping sustainable and inclusive economies.
