The Tony Elumelu Foundation is expected to provide $5,000 to each of 3,369 young African female entrepreneurs.
Young African female entrepreneurs will receive a $16.8 million non-refundable grant from the Foundation Entrepreneurship Program.
Each beneficiary will receive $5,000 in seed capital.
The 3,369 young women selected this year account for more over 68 percent of all candidates.
This program is credited to Mrs. Awele Vivien Elumelu, a Trustee of the Tony Elumelu Foundation who has been lauded as a silent booster of female entrepreneurs in Africa.
For the #TEF2021 Program, the Elumelu Foundation has also granted over $24.75 million to 5,000 African SMEs this year alone.