We believe in doing well and doing good. This is the philosophy that drives and guides our investment activities.

Heirs Holdings is proud to support the work of The Tony Elumelu Foundation (TEF). Founded in 2010, TEF has pioneered a new approach to philanthropy in Africa. The Foundation’s flagship programme—The Tony Elumelu Entrepreneurship Programme—is the $100million commitment to identify, fund, mentor and train 10,000 African entrepreneurs over 10 years; an investment in Africa’s future. In eight years, we have impacted over 18,000 beneficiaries and supported a network of 1.5 million entrepreneurs who have applied to the programme.

The Foundation’s long-term investment in empowering African entrepreneurs is emblematic of Tony Elumelu’s philosophy of Africapitalism, which position’s Africa’s private sector, and most importantly, entrepreneurs, as the catalyst for the social and economic development of the continent

To learn more about the Tony Elumelu Foundation, visit;

We are committed to

empowering African


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The Tony Elumelu

Foundation (TEF)

Impact Report 2022

An assessment compiled in partnership with independent ,third-party researchers. that showcases the real-world effects of TEF’s Entrepreneurship Programme.

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