Thirty young entrepreneurs in Cameroon have been selected for the Tony Elumelu Foundation’s (TEF) 2026 cohort, marking the beginning of a new phase of business growth for founders across the country.The announcement was made by Nigerian philanthropist Tony Elumelu on Sunday March 22 while introducing a new batch of 3,200 entrepreneurs chosen from more than 265,000 applicants across Africa. With Cameroon again featuring among the beneficiary nations, the programme is expected to provide participants with not only financial support, but also training, mentorship, and access to a wider network of peers and opportunities.For many Cameroonian entrepreneurs operating in a difficult economic climate, the TEF Entrepreneurship Programme represents more than seed capital, it offers a structured pathway to stability, expansion, and greater financial independence.
Cameroon Remains a Key Impact Market
Cameroon continues to be one of the strongest markets for TEF-backed businesses in Central Africa. According to TEF figures, businesses supported through the programme in Cameroon have generated more than CFA 12 billion in revenue, created over 58,000 jobs, and supported more than 800 entrepreneurs across diverse sectors.These enterprises span areas including agriculture, retail, technology, waste management, energy and cleantech, fintech, education and training industries that influence everyday economic activity across the country.
“We Chose You Because You Kept Going”In a message delivered alongside the cohort announcement, Elumelu highlighted the resilience required to succeed in entrepreneurship. He said “We did not choose you because your path was easy. We chose you because you kept going when it wasn’t.”Selected entrepreneurs will receive CFA 3 million in seed funding, in addition to capacity-building sessions and ongoing mentorship. The programme also connects participants to a continent-wide ecosystem intended to strengthen collaboration and market access beyond national borders.
Entrepreneurship Expands Across Central Africa
TEF’s footprint continues to extend throughout the CEMAC region, supporting entrepreneurs contributing to business growth, job creation, and broader economic resilience. Cameroon is listed among the top beneficiary countries, alongside nations including Chad, Gabon, Congo (Brazzaville), the Central African Republic, Equatorial Guinea, and the Democratic Republic of Congo.Across the region, the TEF-backed entrepreneurial pipeline reflects a growing confidence in business-led development—particularly as communities seek new engines for employment and income generation.
More than Finding: Building a System of Opportunity
Since the foundation’s launch, TEF has supported thousands of entrepreneurs across Africa, emphasizing that opportunity should be accessible and sustainable, not limited to a few.As Cameroon continues to face challenges related to youth unemployment and economic uncertainty, programmes like TEF’s Entrepreneurship Programme are viewed by many as a practical intervention: supporting self-employment, strengthening local businesses, and reducing over-reliance on traditional job markets.For the latest cohort, the message is clear—this is not just investment in individual businesses, but investment in Cameroon’s future workforce and economic direction.
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