Tony O. Elumelu, Prominent Nigerian economist, philanthropist and Chairman of Heirs Holdings, has announced the 12th cohort of entrepreneurs chosen for the Tony Elumelu Foundation (TEF) Entrepreneurship Programme.

It was made known on Sunday to accord with his birthday and comes as the foundation expands its reach, choosing 3,200 entrepreneurs from all 54 African countries.

Sharing his thoughts on the initiative via his official X account, Elumelu talked about the engineered luck that supports the programme.

“Today, I turn a year older. And every year on this day, I reflect on something far bigger than me,” he said.

“For a long time, I believed luck was something that just happens to you. Then I realised luck can be engineered. Opportunity can be democratised.”

Elumelu added that his foundation’s approach is focused on providing structured assistance to entrepreneurs in Africa.

The 2026 cohort was selected from more than 265,000 applicants, stressing growing interest in entrepreneurship, especially in sectors such as artificial intelligence, agriculture, and the green economy.

According to the foundation, the entrepreneurs selected demonstrated resilience and persistence in spite of challenging business environments.

Each beneficiary will receive a $5,000 grant, with the total funding amounting to approximately $16 million. In addition to financial support, applicants will have access

to mentorship, business training, and a pan-African network of entrepreneurs and investors.

Elumelu, his wife and co-founder, Awele Elumelu, noted the initiative reflects a long-term commitment to empowering young Africans.