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Zambia’s young innovators have been urged to take fuller advantage of continental entrepreneurship opportunities, with the Tony Elumelu Foundation (TEF) calling for stronger participation from the country during its 2026 Media Parley, held virtually with journalists across the continent on Saturday.
The call came as Zambia Monitor sought clarity on Zambia’s entrepreneurial prospects and sectoral gaps.
TEF Chief Executive Officer, Somachi Chris-Asoluka, said Zambia was well-positioned for growth but must increase the number of applicants to benefit from regional support networks.
“We have good representation from Zambia, but we want to see even more young Zambians apply,” she said. “There is opportunity everywhere—agriculture, retail, tech, the green economy, healthcare, education. What matters is a clear idea and proper market research,” Chris-Asoluka added.
She noted that Zambia’s unemployment pressures reflected the wider African reality, where millions of youths entered the labour market each year but formal jobs remained scarce.
“Across Africa, governments and big corporates cannot create jobs at the scale required,” Chris-Asoluka said. “Entrepreneurs are therefore the continent’s greatest hope,” she noted.
According to her, TEF’s programme trains entrepreneurs in business management, AI, market research, financial planning and other growth skills. It also funds climate-focused ventures through its green entrepreneurship curriculum.
According to TEF data, the foundation has disbursed more than $100 million to 24,000 young entrepreneurs from all 54 African countries since 2015. These businesses have reportedly generated $4.2 billion in revenue, created 1.5 million jobs and lifted 2.1 million people out of poverty.
Chris-Asoluka said Zambia’s entrepreneurs—like their peers across Africa—often faced structural challenges, including regulatory bottlenecks and high electricity costs.
Despite these constraints, interest in entrepreneurship is rising in Zambia, especially in agriculture, retail, ICT, artificial intelligence and green economy ventures.
TEF says it will support 3,200 African entrepreneurs in 2026, backed by $16 million in partnership funding. The foundation will announce this year’s beneficiaries on Saturday.
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