The beneficiaries of the 2021 edition of the Tony Elumelu Foundation entrepreneurship program will be announced on November 12, 2021. The announcement will be made during a ceremony to be held in Lagos, Nigeria.

Numbering 4,800, TEF 2021 recipients have been selected across Africa to join the 2021 cohort of the Tony Elumelu Foundation's annual program. Through a press release, the foundation points out that these entrepreneurs will receive TEF seed capital funding of $5,000. Every year on January 1, the document says, the Tony Elumelu Foundation opens its application portal to African entrepreneurs with businesses less than five years old. This year's recipients were chosen from a pool of more than 400,000 applications, selected based on their innovative and impactful business ideas. These 4,800 beneficiaries are both new start-ups and existing young companies at different operational stages in different sectors.