The Tony Elumelu Foundation has set a new benchmark for philanthropic impact across the continent with the selection of 3,200 young African entrepreneurs for its 2026 cohort, a move described by the Foundation’s Chief Executive Officer, Somachi Chris-Asoluka, as a decisive step toward future-proofing the African economy.
Speaking during a high-level virtual media parley on Saturday, Chris-Asoluka emphasised that the current selection represents a historic milestone in the Foundation’s twelve-year journey, particularly noting that the gender and geographic distribution of this year’s beneficiaries is among the most inclusive the organisation has ever recorded.
She stated, “The numbers you’re going to see tomorrow, and the breakdown of those numbers, are incredibly exciting because they reflect our commitment to ensuring that no African entrepreneur is left behind, regardless of their gender or location.”
This year’s programme has been specifically tailored to meet the shifting demands of the global market, with a heavy emphasis on integrating artificial intelligence and climate resilience into the core operations of small businesses.
Chris-Asoluka noted that in 2026, all businesses had to begin to integrate AI to remain competitive, which is why the Foundation had armed its newest cohort with “AI thinking” and specialised Green Business Management training.
The CEO highlighted that this strategic shift was essential because “entrepreneurs alone have the capacity, the resources, and the talent to create the millions of jobs our continent so desperately needs,” adding that the Foundation’s mission was to eradicate poverty through the philosophy of Africapitalism.
The 2026 cohort will be managed in four distinct groups, supported by an array of global partners including the Dutch Government, Young Africa Unlimited, and the United Nations Development Programme (UNDP), reflecting a scaled-up approach to continental empowerment.
