The Tony Elumelu Foundation: Another endeavour to uphold the role of the private sector

European experts and private sector representatives have met in Belgium to discuss the best way of transforming Africa’s economy.


The encounter was the  innitiative of one of Africa’s Philanthropist organisation, the Tony Elumelu Foundation, TEF.


Development partners and private sector representatives examined how best entrepreneurship in Africa can accelerate the economy.

Organised under the  theme  “A Convening on Africa’s Economic Transformation: A Case Study of the Tony Elumelu Foundation”, discussions focused on;

-The impact of entrepreneurship on the continent

-The importance of research and advocacy intended to uncover the continent’s potential.

– A zoom on the success stories of 4,470 African entrepreneurs, beneficiaries of the Tony Elumelu Foundation.

– Understanding the new approach to philanthropy by Tony Elumelu through the Tony Elumelu Foundation.

-Scrutinising  300,000 applications from 54 African countries to the Tony Elumeu Foundation.

During the gathering, participants agreed on a draft guide  to check  the immigration problem which the continent is a victim.


The Tony Elumelu Foundation posits that private sector investment can serve as a catalyst to the economic transformation of the continent.

If entrepreneurs are empowered, businesses will thrive and more jobs created  to discourage immigration.

The meeting is a follow up to one organised in June 2018.

The meeting organised in Lagos Nigeria brought together representatives of the Tony Elumelu Foundation and  the French President, Emmanuel Macron.

A similar discussion forum brought representatives of the Tony Elumelu Foundation and the Belgium Minister for Digital Agenda, Philippe De Backer,

-Koen Doens, Deputy Director General, DEVCO

-Carl Michiels, Director, European Centre for Development Policy Management (ECDPM) and other experts.


 TEF Foundation and its development approach


The Tony Elumelu Foundation (TEF) is a non-profit making organization founded by a Nigerian investor and philanthropist, Tony O. Elumelu.


The promoter relies on the strength of the private sector as key to sustainable development of Africa.

The ultimate goal of the founder is to transform 10,000 African entrepreneurs to large scale employers within a period of ten years.

Benly Anchunda

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