General News
Tony Elumelu Foundation Set to Announce 2025 Cohort of TEF Entrepreneurship Programme

The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy empowering entrepreneurs is set to announce the 11th cohort of the TEF Entrepreneurship Programme on Saturday, March 22, 2025.
The 2025 announcement comes at a critical time, as Africa’s entrepreneurship ecosystem faces funding constraints and global economic headwinds. TEF continues to provide much-needed support, empowering African entrepreneurs to transform their ideas into sustainable businesses and engines of economic growth.
Each selected Tony Elumelu Entrepreneur will receive $5,000 non-refundable seed capital, a world-class business training on TEFConnect, one-on-one mentorship, and access to global networks and investment opportunities. The selection process is being conducted by Ernst & Young, to ensure independent assessment.
The impact of the Tony Elumelu Foundation extends beyond funding. It is changing lives and shaping Africa’s future, as witnessed by beneficiaries of the catalytic TEF Entrepreneurship Programme.
Ahead of the upcoming announcement, Tony O. Elumelu, C.F.R., Founder of TEF and Group Chairman of Heirs Holdings, reiterates his unwavering belief in the potential of Africa’s entrepreneurs:
“I believe that Africa’s transformation will not be led by aid, but by empowering the next generation of African entrepreneurs—giving them the tools, the funding, the training, and the networks to build sustainable businesses that create jobs and drive economic growth.
Over the past decade, we have nurtured entrepreneurs from inception to success, scaling our impact across all 54 African countries. We have provided capital and also developed a robust monitoring and evaluation framework that allows us to track the progress of our entrepreneurs and measure their contributions to their communities and economies.
No other organisation is implementing entrepreneurship development at this scale across Africa. We have learned, we have refined, and we continue to improve, ensuring that African entrepreneurs—women and men—are at the forefront of solving our continent’s challenges and creating wealth for themselves and their communities. Entrepreneurship is the key to Africa’s prosperity. I wish the 2025 cohort of Tony Elumelu Entrepreneurs success, as they chase their ambitions, and play their part in Africa’s transformation.”
The Tony Elumelu Foundation is the leading philanthropy empowering a new generation of African entrepreneurs, driving poverty eradication, catalysing job creation across all 54 African countries and ensuring inclusive economic empowerment.
Since the launch of the Tony Elumelu Foundation Entrepreneurship Programme in 2015, TEF has lifted over 2 million Africans out of poverty, provided 2.5 million young Africans with access to training on TEFConnect, and disbursed more than $100millon in direct funding to thousands of African entrepreneurs who have gone on to create over 1.5 million direct and indirect jobs and generate over $4.2 billion in revenue.
Tony Elumelu Entrepreneur Testimonials from Previous Years:
“I started my agribusiness with nothing but an idea. TEF changed everything. With the funding, training, and mentorship, I have now expanded across three countries and employ 25 people.”
– Fatima Diallo, Senegal, Agritech Entrepreneur
“As a woman in the fintech industry, it was difficult to secure funding. TEF not only provided me with capital but also the confidence and skills to build a business that is now attracting international investors.”
– Mary Okeke, Nigeria, Fintech Founder
“The TEF Entrepreneurship Programme helped me commercialise my clean energy innovation. Today, we provide solar solutions to over 50,000 homes in rural Tanzania.”
– Juma Nyerere, Tanzania, Renewable Energy Entrepreneur
For more details on the Tony Elumelu Foundation’s impact visit our Impact Page, African Success Stories Page, and Annual Report Page.
For Media Inquiries: media@tonyelumelufoundation.org
General News
AfDB, AfCFTA Unite to Unlock $3.4 Trillion Continental Market Through Strategic Infrastructure Development

The African Development Bank Group, the African Continental Free Trade Area (AfCFTA) Secretariat, and Africa50 have signed a Memorandum of Understanding to catalyse infrastructure development across the continent and unlock the full potential of the largest free trade area in the world since the establishment of the World Trade Organization.
Signed at the Africa50 General Shareholders Meeting in Maputo, the tripartite agreement establishes a comprehensive framework for cooperation in identifying, designing, constructing, and maintaining critical infrastructure projects that will enhance intra-African trade, accelerate regional integration, and drive digital transformation across the continent’s market of 1.3 billion people.
Currently, intra-African trade accounts for just 15–18% of total African trade, compared to 68% in Europe and 59% in Asia. The new partnership between the three institutions aims to dramatically increase this figure by addressing the infrastructure gaps that currently constrain trade flows across African borders.
It will prioritise developing multimodal transport corridors, cross-border infrastructure, logistics hubs, ports, and airports to seamlessly connect African markets and reduce the cost of doing business across borders.
Recognising the transformative power of the digital revolution, the partners will also work together to establish cutting-edge data centres and digital trade platforms, enabling African businesses to compete in the global digital economy.
“The African Development Bank has played a lead role in supporting the development and operation of regional economic corridors throughout the African continent by investing over $55 billion in the last nine years to develop road corridors, ports, railways, and expand power pools to interlink countries and boost trade,” said Solomon Quaynor, the Bank’s Vice President for Private Sector, Infrastructure & Industrialization.
Specifically, the Bank invested over $8 billion across 109 cross-border, economic corridors, and infrastructure projects between 2014 and 2024
He added: “The tripartite agreement between the AfCFTA Secretariat, the African Development Bank, and Africa50 underscores the paramount importance of realizing the full potential of the AfCFTA single market with its combined annual GDP of $3.4 trillion through the establishment of transport infrastructure.”
Alain Ebobissé, CEO of Africa50, emphasized that the agreement will support “the development and financing of trade-enabling infrastructure to boost intra-African trade, one of the continent’s greatest endeavours.”
The partnership will operate on six strategic pillars: ensuring alignment with the AfCFTA Agreement and regional policies; jointly identifying bankable projects; mobilising capital through innovative finance mechanisms; establishing robust tracking systems; encouraging stakeholder dialogue; and integrating environmental, social, and governance standards throughout project lifecycles.
The three-year memorandum of understanding will be operationalised through detailed joint work plans and specific implementation agreements that will define projects, timelines, and financing arrangements. Technical working groups will be established to ensure effective coordination among the partners and alignment with national and regional development priorities.
Speaking on a panel at the Africa50 event, Wamkele Mene, Secretary-General of the African Continental Free Trade Area, said: “In the global context, we are facing an unprecedented challenge in Africa.
“But this challenge is a unique opportunity for Africa; it is a wake-up call for us that we have to invest in our institutions, in infrastructure, and our skills. Infrastructure development is at the heart of trade and is a prerequisite to doubling intra-African trade to 25% by 2030.”
General News
Vitel Wireless, First MVNO Begins SIM Distribution

Vitel Wireless, Nigeria’s first Mobile Virtual Network Operator (MVNO) has entered into partnership with Slot Systems Limited for distribution of its SIM cards and other gadgets around the country.
Chudi Nwabueze, managing director, Vitel Wireless who described the partnership as a defining moment for his company said Vitel Wireles’s purpose is clear: to transform connectivity in Nigeria through innovation, affordability, and seamless access.
Nwabueze, who spoke in Lagos recently at the official engagement with Slot said Vitel Wireless, as the nation’s first Mobile Virtual Network Operator is committed to creating smart, reliable solutions that break down barriers to communication and make it easier and more cost-effective for people to stay connected anytime, anywhere.
“This partnership with SLOT is a meeting of shared values and vision. By combining our innovative mobile services with SLOT’s extensive retail presence, we are making Vitel Wireless SIM cards and the connectivity they offer more accessible than ever before. Customers will now be able to purchase, register, and top-up their SIM cards conveniently within their own communities.”
He described the collaboration as more than just distribution, ”it is about empowering people. It is about bridging the connectivity gap with technology, accessibility, and affordability at the heart of everything we do.”
Nwabueze further explained Vitel Wireless SIM card is a location technology awareness card. It can track whereabouts of a person. This information can help the police, on official demand, in case of unfortunate incident.
He said the disadvantages of tracking a person’s whereabout outweighs the advantages.
He explained that access code is given to another person for tracking.
“We operate as a core network and we have integrated with all the major networks in Nigeria, including international calls. So, on a simple language, we are a GSM company, that you do call, SMS, data and we offer more value like safety. And the good news is that we are spread out in the 36 States plus Abuja FCT in Nigeria.
General News
Digital Realty Nigeria Launches ServiceFabric Platform Today

Digital Realty Nigeria, a carrier-neutral data centre operator, will be launching its ServiceFabric® platform alongside opening of its new LKK2 Data Centre in Lagos today.
ServiceFabric Platform in Lagos Nigeria, aligned with Digital Realty’s commitment to enabling seamless global interconnectivity for businesses, providing enterprise customers in Nigeria with the ability to connect whenever, wherever, and to whoever they need to.
Engr. Ikechukwu Nnamani, managing director, Digital Realty Nigeria, said that the presence of ServiceFabric in Lagos will support the growing demand for hybrid IT and multi-cloud connectivity, empowering businesses with a secure, software-defined interconnection platform.
Located in the nearby coastal area of Lekki, LKK2 adds nearly 2MW of installed IT capacity across nearly 13,000 square feet of data hall space, supporting the growing demand for scalable, high-performance infrastructure across Nigeria and the broader region. LKK2 will be interconnected with Digital Realty’s existing LKK1 facility, which serves as the landing station for the 2Africa subsea cable, offering customers seamless access to the cable’s 46+ landing points in 33 countries across Africa, Europe, the Middle East, and Asia.
The integration of LKK2 with the 2Africa cable landing station at LKK1 enables businesses in West Africa to leverage low-latency connectivity and reliable access to global cloud and network services. This setup supports improved application performance and enhances access to international digital ecosystems through a carrier-neutral platform.
This new facility integrates with ServiceFabric®, Digital Realty’s global interconnection and orchestration platform, ensuring low-latency, high-throughput connectivity to local, regional, and international destinations. Through ServiceFabric®, LKK2 will interconnect with LOS1, the region’s top internet peering point, and LOS2, Digital Realty’s highly connected data centers located on Victoria Island in Lagos.
Together, this ecosystem delivers robust resilience, redundancy, speed, and scale for enterprise and hyperscale customers seeking to expand into a fast-growing digital market, ensuring continuous, reliable operations.
“LKK2 is a significant milestone in our journey to support digital transformation in Africa,” said Ike Nnamani, Managing Director, Digital Realty in Nigeria. “Our continued investment in Nigeria and the broader African region reinforces our commitment to enabling seamless global interconnectivity and providing a future-ready infrastructure platform for local and global enterprises.”
This strategic expansion reinforces Digital Realty’s commitment to advancing Africa’s digital transformation by delivering the infrastructure and connectivity needed to support innovation and growth across the continent. Recently ranked number one in Africa on Cloudscene’s Data Center Ecosystem Leaderboard, the company continues to cement its position as a leading enabler of the continent’s digital future. With the exponential growth of data and the acceleration of digital initiatives across the region, LKK2 provides the additional capacity which enterprises and content providers need to grow, scale, and connect – wherever and whenever they need to.
LKK2, due to become operational later this year, will support both local enterprises and multinational organizations seeking reliable, secure, and interconnected infrastructure in Africa.
- E-Business2 days ago
NDPC Begins Probe of Banks, Others for Data Breaches
- E-Financial2 days ago
FBNQuest Merchant Bank Facilitates Landmark ₦5Bn Commercial Paper Programme for Accion Microfinance Bank
- Telecom2 days ago
Digital Realty Commits to Africa’s Digital Transformation @ Launch of LKK2 Data Center
- Telecom2 days ago
Intel–U.S. Partnership Reshapes Semiconductor Landscape with Historic Equity Agreement
- E-Financial2 days ago
UBA to Deepen Financial Inclusion, Boost Savings’ Culture with Super Savers’ Promo
- E-Financial2 days ago
Nigeria Leads Africa in Stablecoin Adoption with $22Bn in Transactions
- E-Financial2 days ago
Fidelity Bank Resumes Intl Transactions on Naira Debit Cards
- Telecom2 days ago
NITDA Alerts Nigerians to eSIM Security Flaw Deployed to Hijack Devices Worldwide