Beneficiaries of the Tony Elumelu Foundation (TEF) Entrepreneurship Programme have made $52 million in two years.
The beneficiaries have also created 12,000 jobs in the same period under review.
This was revealed by the TEF Chief Executive Officer Parminder Vir on Thursday in Lagos at the 2018 edition of the TEF Entrepreneurship Forum.
Vir said 1460 entrepreneurs across Africa were picked for this edition of the forum as the Foundation has made a direct investment of $20 million to develop young entrepreneurs in the continent.
“In the last 18 months to two years, TEF entrepreneurs across the continent have generated $52 million income and created over 12,000 jobs,” she said.
“2 percent of the businesses developed are fully operational while 29 percent are partially operational.
“The Foundation started off with 24 percent female entrepreneurs but this year 41 percent of the entrepreneurs selected are women.”