Entrepreneurs supported by the Tony Elumelu Foundation have generated more than $4 billion in revenue and created millions of jobs across Africa, according to recent impact data released by the organization.
The figures highlight the growing role of small and medium-sized enterprises in driving economic growth and job creation across the continent, with Cameroon emerging as one of the key Central African contributors.
In Cameroon, TEF-supported businesses generated more than $20.2 million in revenue and created nearly 59,000 jobs, reflecting the expanding role of youth-led entrepreneurship in the country’s economy. Yaounde-based entrepreneurs continue to expand across sectors including agriculture, services, and digital innovation.
Nigeria recorded the highest overall impact, with TEF-backed businesses generating about $182.9 million in annual revenue and creating more than 488,000 jobs. The country also has the largest number of beneficiaries, with over 9,000 entrepreneurs supported.
Mali followed with strong results in West Africa, reporting more than $90.3 million in revenue and about 255,000 jobs created.
In East Africa, Uganda and Kenya posted steady gains. Uganda recorded approximately $28.6 million in revenue and more than 97,000 jobs, while Kenya generated about $22.5 million in revenue and more than 51,000 jobs.
Benin also reported strong job creation, with more than 78,000 jobs attributed to supported entrepreneurs. Other countries, including Tanzania, Ghana, Zambia and Rwanda, recorded steady gains in revenue and employment linked to the program.
Overall, West Africa led in total impact, while East Africa showed consistent entrepreneurial growth. Central and Southern Africa also contributed to job creation and business expansion.
The Tony Elumelu Foundation, launched in 2010, provides training, funding and mentorship to young African entrepreneurs through its flagship entrepreneurship program, aimed at promoting inclusive economic development across all 54 African countries.
Analysts say the results reflect the increasing importance of entrepreneurship in addressing unemployment and supporting long-term economic growth across Africa.