Fifty-six Kenyans are among the 1,000 entrepreneurs shortlisted for the annual Tony Elumelu Foundation (TEF) Entrepreneurship Programme.
Over 93,000 entrepreneurs applied for the programme – more than twice the 2016 applications and nearly four times the previous year.
Over the next nine months, the entrepreneurs will be trained and mentored to develop a business plan and will then be eligible to receive up to $10,000 (Sh1 million) in seed capital.
“Standing here to announce the successful applicants is bittersweet; we have 92,000 budding business leaders who weren’t selected for our programme and these young African men and women have demonstrated a lot of energy, innovation and creativity in their applications,” said TEF founder Tony Olumelu.
“We should not relent until we help them all realise their aspirations.”