• TEFConnect used in latest 2026 review to track impact across entrepreneurship programmes in Africa
• Foundation expands multi-partner model combining funding, training, and digital access across 54 countries
• SME financing gap above $330bn highlights structural limits beyond seed capital support

On April 29, 2026, the Tony Elumelu Foundation (TEF), through its digital platform TEFConnect, released insights from its latest impact review, showing how its entrepreneurship model is increasingly being structured around digital infrastructure and partner-driven delivery systems across Africa.

The review points to a gradual shift in TEF’s operating model from standalone seed capital disbursement toward a broader ecosystem approach that integrates funding, training, mentorship, and digital connectivity. This system is designed to support entrepreneurs not only at the point of business creation but throughout early-stage development and scaling.

In 2025, the foundation expanded its reach through multiple programmes targeting different segments of the entrepreneurial landscape. A total of 3,000 entrepreneurs were selected under its 11^th cohort, while targeted initiatives supported green businesses, women-led enterprises, and technology-driven startups. These included a €2 million partnership with Deutsche Investitions- und Entwicklungsgesellschaft (DEG), a $1 million collaboration with Google.org focused on artificial intelligence, and a $6 million programme backed by UAE development partners.

Rather than operating as isolated interventions, these programmes are increasingly linked through TEFConnect, which functions as a coordination layer connecting entrepreneurs to mentors, markets, and institutional partners across 54 African countries.

This shift comes at a time when structural constraints continue to limit SME growth across the continent. Data from the International Finance Corporation places Africa’s SME financing gap at over $330 billion, reflecting the scale of unmet demand for credit and growth capital. At the same time, most small businesses remain informal and geographically constrained, with limited access to formal markets or cross-border trade opportunities.

Across Africa, the impact of digital systems on financial access is already visible in transaction-heavy ecosystems. Platforms like M-Pesa have enabled users in markets such as Kenya and Tanzania to move money, pay suppliers, and access micro-financial services directly through mobile phones, without traditional banking infrastructure. Similarly, Flutterwave has enabled small businesses to receive cross-border payments from customers in multiple markets through a single digital interface, effectively reducing the friction of international trade for informal and small enterprises.

Internet access remains another limiting factor. According to the International Telecommunication Union, Sub-Saharan Africa’s internet penetration remains below half the population, creating uneven access to digital platforms, particularly in rural areas where many SMEs operate.

Even as digital tools expand, adoption of technologies such as artificial intelligence remains in early stages. Research from McKinsey & Company highlights persistent barriers including infrastructure gaps, affordability constraints, and limited technical capacity among small businesses.

Through TEFConnect, entrepreneurs are integrated into a structured digital system that manages application submission, training delivery, mentorship access, and eligibility assessment for funding within a single workflow. In the 2026 cycle, more than 265,000 applications were processed through the platform, positioning it among the continent’s largest digitised entrepreneurship selection systems. According to TEF programme disclosures, selected entrepreneurs progress through standardized online training modules and mentorship engagement before being evaluated through digital assessment processes linked to the $5,000 seed capital allocation.

At scale, the platform consolidates multiple programme functions, learning, evaluation, and funding, into one operational infrastructure. TEF reports indicate that over 2.5 million individuals have accessed training through TEFConnect, while more than 24,000 entrepreneurs have received financing through the broader ecosystem, linking participation, capacity building, and capital allocation within a single digital framework.

By Cynthia Ebot Takang