Business
Harvard Business School Launches Tony Elumelu Foundation Case Study
Spotlights Role of African Philanthropy in Transforming the Development Agenda in Africa
BOSTON, United States of America, March 11, 2024/APO Group/ —
At a time of renewed geopolitical interest in Africa, and an increasing questioning of traditional development finance models, Harvard Business School today released a case study examining the role and impact of the Tony Elumelu Foundation (TEF) (https://www.TonyElumeluFoundation.org), and its unique approach to catalysing entrepreneurship in Africa.
The Foundation, Africa’s leading funder of young entrepreneurs, has pioneered an innovative approach to seeding, capacitising and networking young entrepreneurs across Africa. Drawing directly from Tony Elumelu’s entrepreneurial journey, his acknowledgement that luck and chance played an important role in his success, the Foundation democratises luck, spreads opportunity, in a sector agnostic approach, and has developed a bespoke infrastructure that reaches every country in Africa. The Foundation is a direct expression of Elumelu’s philosophy of Africapitalism, that the private sector must play a pivotal role in Africa’s development, and that investment must seek social, as well as economic returns.
We know that entrepreneurship is the solution to youth unemployment and insecurity
The case study, the first of its kind focused on African philanthropy, was launched today, Thursday, February 29, 2024, before a class of graduate students at Harvard Business School and explored the Foundation’s unique approaches and transformative initiatives, showcasing how the strategic philanthropy offered by TEF, is driving positive change and elevating countries and communities.
The case study recognises challenges the Foundation faces, and its responses, as it developed its mission, since founding in 2010. The track record is impressive, with over 20,000 entrepreneurs funded, over a million connected digitally and the development of an impact assessment capacity. TEF has disbursed over USD$100 million, reaching every African country. The Foundation is increasingly developing a partnership-based approach, working with institutions such as the EU, US agencies, the UNDP, the ICRC, the Ikea Foundation, and others to develop bespoke programmes focused on fragile states, female entrepreneurs and sustainability initiatives.
Tony Elumelu, who spoke at Harvard said, “TEF is creating economic hope and opportunity for African entrepreneurs. We know that entrepreneurship is the solution to youth unemployment and insecurity. Through the intervention of the Foundation, we are transforming our young people, giving them hope. Collectively, all of us can resolve the challenges that we have on the continent.
It is wonderful to have had the opportunity to work with HBS, to spotlight our successes, acknowledge the challenges that we have at times faced, and provide the opportunity to spread our experience, for the benefit of others.”
The Harvard Business School session provided an opportunity to engage in a meaningful discussion on the role of philanthropy in shaping sustainable and inclusive economies. As the world grapples with complex challenges around demographics, climate and sustainability, the Tony Elumelu Foundation model offers a fascinating model of how strategic philanthropy can be a driving force for positive change.
Distributed by APO Group on behalf of The Tony Elumelu Foundation.
Events
As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world
The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation
Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.
Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.
The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.
“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.
“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”
The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.
Key challenges driving the debate
Core focus areas for this year’s edition of The Africa Debate include:
This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy
Global Realignment & New Partnerships
How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.
Financing Africa’s Future
The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.
Strategic Value Chains
Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.
Digital Transformation & Technology
Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.
The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.
Registration is now open (http://apo-opa.co/46b19gj).
Distributed by APO Group on behalf of Invest Africa.
Business
Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations
Business
The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility
-
Business5 days agoGreen finance: African Development Bank accords $1 million grant to strengthen actions of Crédit Agricole du Maroc Group in climate transition
-
Business5 days agoAfreximbank announces top 8 finalists for its flagship Accelerator Program
-
Energy5 days agoAfrica Finance Corporation Acts as Financial Adviser on Landmark Power Sector Bond Issuance under Nigeria’s Presidential Power Sector Financial Reforms Programme
-
Business5 days agoAPO Group Strengthens Advisory Leadership with the Promotion of João Marques to Executive Director, Strategic Advisory
-
Energy3 days agoTrinidad & Tobago Prime Minister (PM) to Address Caribbean Energy Week (CEW) 2026 Amid Multi‑Billion‑Dollar Energy Investment Surge
-
Business5 days agoOando Reports Profit-After-Tax Up 10% to ₦241.3 billion as Upstream Production Rises 32% in FY 2025
-
Business3 days agoCGTN: Vision 2030: China’s tech blueprint reshaping global innovation
-
Business3 days agoEquatorial Guinea, Chevron Sign Aseng Agreement, Strengthening GEPetrol Participation