The Tony Elumelu Foundation (TEF) announced this Friday, December 11, a collaboration with the European Union (EU) to  identify, train, mentor and finance 2,500 African entrepreneurs. This partnership will enable the European institution to provide significant €20 million in support to women-owned businesses in the 54 African countries.

"We are delighted to partner with the European Union, sharing our unique ability to identify, train, mentor and finance young entrepreneurs across Africa. This joint effort will prioritize and provide economic opportunities for African women, who for too long have faced systemic barriers to starting, growing and maintaining their businesses," said  Tony Elumelu, founder of the TEF.

According to the EU, this partnership will help women participating in economic development, reach their full potential and accelerate economic inclusion especially in the context of the COVID-19 pandemic. The EFT Entrepreneurship Program has a $100 million fund  .