Transnational Corporation Plc (Transcorp) has reinforced its position as a key driver of African entrepreneurship with a cumulative investment exceeding $2 million to support young business leaders across Nigeria and the Niger Delta.
The announcement was made on Wednesday during the unveiling of the 2026 cohort of the Tony Elumelu Foundation (TEF) Entrepreneurship Programme. Under the initiative, 3,200 entrepreneurs from across Africa will receive $5,000 each in seed capital to grow their businesses.
Through its ongoing partnership with the foundation, Transcorp Group has directly funded 1,250 entrepreneurs. In the 2026 cycle alone, the conglomerate sponsored 625 participants, representing a significant share of the total beneficiaries.
Founder of the foundation, Tony Elumelu, said the initiative reflects a long-term commitment to economic transformation across Africa.
“The future of Africa will be built by Africans who create businesses, generate jobs, and solve the challenges of our continent,” Elumelu said.
“Empowering entrepreneurs remains the most sustainable path to economic transformation of the continent.”
A key focus of Transcorp’s 2026 investment is the Niger Delta region, home to the group’s major power assets, including Transcorp Power Plc in Ughelli and Trans Afam Power Limited in Rivers State.
So far, more than 430 beneficiaries of the programme come from Niger Delta states such as Delta, Rivers, Abia, Akwa Ibom, Bayelsa, Cross River, Edo, Imo and Ondo.
President and Group Chief Executive Officer of Transcorp Group, Owen Omogiafo, said the investment reflects the company’s commitment to empowering its host communities.
“In Delta State, we have empowered 625 entrepreneurs through the TEF Programme in a single year. That is not a coincidence. That is commitment,” Omogiafo said.
“We do this because we believe that when people have an opportunity to thrive and create value for others, significant issues in our continent begin to be addressed.”
With a combined market capitalisation estimated at about N5 trillion and a shareholder base of more than 300,000 investors, Transcorp continues to leverage its scale to drive grassroots economic growth.
Beyond entrepreneurship support, the group provides over 20 per cent of Nigeria’s installed power capacity, highlighting its role in supplying both economic and energy infrastructure across the country.
As the 2026 beneficiaries begin their entrepreneurial journeys with their $5,000 grants, the company said the broader objective is to expand access to opportunity for Africa’s next generation of innovators and business builders.
“In our partnership with the TEF, we have so far empowered 1,250 entrepreneurs with about $2 million and counting,” Omogiafo added.
The collaboration between Transcorp and the Tony Elumelu Foundation is rooted in the concept of Africapitalism, the development philosophy championed by Tony Elumelu. It advocates that Africa’s private sector should lead the continent’s transformation through long-term investments that generate both economic prosperity and social wealth.
By supporting 625 entrepreneurs in the current cycle, Transcorp is advancing a model that goes beyond traditional philanthropy, encouraging a form of enlightened self-interest where thriving startups contribute to building stronger and more sustainable markets across Africa.
