Tony Elumelu Foundation

The Tony Elumelu Foundation (TEF) is an African non-profit organization founded in 2010 by Tony O. Elumelu and headquartered in Lagos, Nigeria, based on his belief that, with the right support, entrepreneurs can be empowered to contribute meaningfully to Africa’s prosperity and social development. The Foundation is intent on charting a new course for African philanthropy and does not operate merely as a grant-awarding organisation. It is a pioneer member of the Global Impact Investment Rating System (GIIRS).

The Tony Elumelu Foundation (TEF) was founded in 2010 by Nigerian businessman Tony O. Elumelu, CON, and positioned as a 21st-century catalytic philanthropy. As a primary driver of Africapitalism, the Foundation is committed to the economic transformation of Africa by enhancing the competitiveness and growth of the African private sector, through a push for entrepreneurship.

The Foundation aims to promote excellence in business leadership and entrepreneurship across Africa . One of its driving aspirations is the improvement of the competitiveness of African economies.

TEF’s activities revolve around:
(a) Developing the next generation of business leaders for Africa
(b) Building the networks and developing the framework for enhancing the competitiveness of African economies
(c) Identifying impact investing opportunities. (d) Research work aimed at developing an enabling environment for African entrepreneurs

The Foundation has set itself apart from grant-making by operationalizing various integrated programmes to support entrepreneurship in Africa and enhancing the competitiveness of the African private sector. TEF has built a reputation for successfully implementing diverse programmes to achieve this, including:

The Foundation is led by Parminder Vir OBE, a global media investment expert and consultant with more than 25 years of experience in an award-winning career as a film and TV producer. Its advisory board is robust and features several prominent public and private sector figures including Harvard Business School’s Professor Michael E. Porter as its founding patron. Other board members are economist and former Pakistan prime minister, Shaukat Aziz; founder and executive chairman at Dalberg Global Development Advisors, Henrik Skovby; former Executive Vice President, Open Society Institute, Stewart Paperin; former managing director at Goldman Sachs and chief executive officer of Africa.com, Teresa Clarke; chief executive officer of Development Partners International, Runa Alam; Dr Luisa Dias Diogo, who served as prime minister of Mozambique from 2004 to 2010, and chief executive officer of Bidco Group, Vimal Shah.

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