For those who missed the grand announcement yesterday; Tony Elumelu, a nigerian billionaire has committed $ 100 million to create 1000 African entrepreneurs in ten years.

The interesting part is that the billionaire will hand grants and not necessarily loans to African entrepreneurs or businesses that are less than 3 years old. He will do this through his foundation; Tony Elumelu foundation. Talk of being a philanthropist.

The application portal will be available online  in January 2015 and on

It doesn’t just end there. Successful applicants will participate in a comprehensive programme designed to equip them with the skills needed to build a successful business. The programme includes seed funding, a customized 12-week business skills training course, mentoring, an entrepreneurship ‘boot camp’, participation in the annual Elumelu Entrepreneurship Forum, membership of the Alumni Network and much more.

For more info on this we’ll keep you in the know.